Share This Article:Startup teams at an EvoNesus incubator in downtown San Diego. Photo by Chris JenneweinBy Duane Cameron

Everyone in business and economic development agree that startups are great for citiesbut how can communities and leaders do more than just tout the benefits of startups, and actually help pave the way for entrepreneurs to bring their business ideas to life?

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One way of getting behind San Diego startups is through celebrating the innovation and creativity being brought to our region. This month Cox Business, Tech Coast Angels and the San Diego Venture Group are doing exactly that by sponsoring and organizing the John G. Watson Quick Pitch Competition.

The Quick Pitch Competition on Oct. 29 gives 10 local startups the opportunity to compete for grants of up to $50,000 to further develop their idea. Its one of several others like it throughout the year here in our region.

However, we can always do more to support our startup ecosystemespecially if we want to hang on to our distinction as one of the best cities in America to launch a business. Moreover, San Diego in particular has a number of very good reasons to do so:

Small businesses, including startups, are the backbone of our regional economy. Small businesses, defined as those with 100 employees or fewer, employ697,000 people, or 59 percentof San Diegos workforce. If we were to attract fewer talented entrepreneurs, opportunities for both our long-time residents and recent transplants would dry up, and our economy would suffer.

Theyve given us our reputation as a life sciences and biotechnology innovation hub. Aside from the San Francisco Bay Area and the Boston-Cambridge region, were one of the top cities for manufacturing, testing and research in the fields of biotechnology, pharmaceuticals and medical devices. Several of the top employers in this area are, of course, large companies like Illumina, but a vast majority of the more than 1,100 life and sciences biotech businesses in San Diego began life as small startups with an idea.

They encourage competition. Competition is a good thing and spurs innovation, and a competitive business ecosystem makes our city stand out as a dynamic source of tech solutions. As Ben Yoskowitz, an angel investor and founding partner at Year One Labs puts it, Any reasonably good idea has 10,000 people working on it right now.

A few local startups have made it big already. Thanks to our large pool of talent both local and transplanted (the perks of being a major center for universities) as well as a good network of accelerators that coach startups on how to prepare for a successful launch, many of our startups have emerged as major players on the national scene. Think GoFundMe, Classy, Brain Corp, and Human Longevity. Imagine how many more ideas like these are currently incubating among San Diegos startup founders.

They employ talent from other tech hubs, especially recent graduates. The job market may have improved greatly since the 2008-2009 recession, and unemployment may be low, but its still challenging to get your foot in the door as a recent college graduate. In cities like San Diego, though, where theres a strong pool of startups, these young professionals can easily find employment that develops them professionally into the future talent that our city will need to continue to grow.

San Diego has steadily climbed higher on lists of top U.S. cities for startups over the past few years, but that didnt happen in a vacuum. Every big company started small, and its important that larger companies encourage startups, and help provide funding through programs such as the Quick Pitch Competitionespecially if theyre in your field. Its good for business and for everyone who lives and works in Americas finest region.

Duane Cameron has more than 30 years of experience in the telecommunications industry. He is vice president for Cox Business, helping to bring innovative products and services to Southern California businesses.

Opinion: Entrepreneurs and Their Startup Businesses Need San Diegos Support was last modified: October 17th, 2019 by Editor

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Opinion: Entrepreneurs and Their Startup Businesses Need San Diegos Support - Times of San Diego