Calmatters: California’s Lead in Science, Technology is Strong but Vulnerable
by California 100 Research Partner Sean Randolph
California’s economy is diverse, but its greatest asset is technology, with much of the world viewing the state – and the Bay Area in particular – as the global center of innovation. However, there are growing concerns with a range of issues that could erode California’s technology leadership.
Tech accounts for nearly one-fifth of the economic value produced in the state. The $520 billion that it contributes represents more than a quarter of all U.S. tech output – more than the next four states combined. California leads the nation in tech businesses and dominates the IPO pipeline with 56% of the nation’s private companies valued at more than $1 billion. Silicon Valley ranks as the world’s No. 1 startup ecosystem, followed by Los Angeles at No. 6 and San Diego at No. 21.
Read more on CalMatters’ website here.