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Where are the Startups Concentrated in Orange County?
Connect Orange County is just around the corner. In case you didn’t know, it is just about the biggest CRE gathering in SoCal. You can still register and get the Early Bird Rate on this link: Connect Orange County.
Researchers at JLL mapped out the concentration of startups in Orange County, and found while tech startups can be seen in all areas of the region, a majority are located either in the Airport Area or Irvine Spectrum submarkets. JLL says tech and startup companies alike are drawn to these two submarkets because of the high concentration of millennials, strong retail and lifestyle amenities, and the depth of available labor.
Airport Area startups have raised $195.2 million, compared to the $152.2 million raised by their Irvine Spectrum counterparts. Collectively, the two account for 91% of startup funding in Orange County.
Orange County startups have also contributed significantly to the technology sector, emerging as a significant driver for the local economy and driving growth for the overall OC tech ecosystem. Since the start of 2014, OC tech startups have raised $380 million, an average of $6.2 million per company, reports JLL. The local startup world is well-diversified, with firms from a wide spectrum of sub-industries including software, fintech, cyber security, and electronics.
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