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Introducing INNOVATE PASADENA

  Introducing INNOVATE PASADENA

 Education, Business, Tech Leaders, Entrepreneurs, Investors and Accelerators
  Merge Strengths to Promote Pasadena as a Leading Center of Innovation for
                             Technology & Design

Business Wire

PASADENA, Calif. -- June 26, 2013

Announcing INNOVATE PASADENA [innovatepasadena.org], a concerted effort to
advance greater Pasadena as a leading center of innovation for technology and
design through true collaboration. INNOVATE PASADENA (IP) aims to promote
local collaboration across business and education in order to attract and
retain companies, entrepreneurs, innovators and investment capital.

What began as an informal idea eight months ago with tech and business leaders
talking about what the private sector could do to bolster the local economy,
is now a formalized working group led by an executive board of directors. The
board is made up of local leaders from Art Center College of Design, Caltech,
City of Pasadena, The Design Accelerator, Idealab, Materia, Pasadena Angels,
Rexter, and other companies and co-chaired by IP founders Andy Wilson and Mike
Giardello. The group will promote local opportunities, share resources and
foster connections between local institutions, businesses and investors. Those
interested should visit innovatepasadena.org to get involved.

“As a serial tech entrepreneur and resident to Pasadena, I couldn’t be more
excited to help breathe new economic life into our city that has a rich tech
and design legacy,” said Andy Wilson, CEO of Rexter and Co-Chair of IP. “I
know Pasadena has the infrastructure to become the leading innovation
community; we created INNOVATE PASADENA  to get organized and activated.”

“As a Caltech spin-off, Materia has made Pasadena its home and has benefited
from its ongoing relationship with Caltech and local support from the city of
Pasadena,” said Mike Giardello, CEO of Materia and Co-Chair of IP. “INNOVATE
PASADENA will provide the additional structure and support needed to
accelerate innovation within and between the world-class institutions in our
own backyard. We want the world to know Pasadena is the place for innovation
across a number of commercially important sectors, from IT to design and from
material science to life science.”

IP, along with lead sponsors City of Pasadena, Guidance Software, Materia and
Pasadena Angels, will host an invite-only event on June 27 to bring the
community together and celebrate innovation in Pasadena.

THE FACTS ABOUT PASADENA

IP and Estolano LeSar Perez Advisors compiled the following findings that
point out strengths of the greater Pasadena area. For an extended list of data
points and infographic about Pasadena and its institutions, visit
innovatepasadena.org/press.

  *Pasadena attracts $1.9 billion in federal R&D funds annually.^1 That’s
    over $14,000 per capita^2, more than any other innovation community^3 in
    the U.S.
  *Pasadena sits in the heart of a region that files the most patents in the
    U.S., outside of Silicon Valley.^4
  *Nearly 1 in 6 jobs in Pasadena are in professional or creative fields,
    beating out Seattle, San Jose, Austin, and Portland;^5

With access to more arts establishments per capita than anywhere else in the
nation^6 and one of the highest concentrations in the world of Nobel
Laureates^7 (thanks to Caltech’s faculty and alumni), Pasadena offers more
than a vibrant ecosystem for businesses, it is also the best place to raise
future Nobel laureates. From arts establishments and attractions such as the
Huntington Library Botanical Gardens, the Norton Simon Museum, The Rose Parade
and Rose Bowl Stadium, Pasadena boasts an environment that nurtures brains and
talent that change the world.

About INNOVATE PASADENA

INNOVATE PASADENAis a new organization committed to advancing greater
Pasadena as a center oftechnology and design innovation bypromoting
collaboration across business and education to attract companies,
entrepreneurs, innovators and capital to the broader community. For more
information, visit innovatepasadena.org.

^1 Average of $1.947 million for FY2001 – FY2013: from U.S. Office of
Management and Budget (2013).

^2 U.S. Office of Management and Budget (2013). “Prime Award Spending Data.”
Washington, D.C. Retrieved from:
<http://www.usaspending.gov/search?form_fields={%22psc_cat%22%3A[%22A%22]}>

^3 The national “innovation communities” that were considered for comparison
purposes include the following cities: Austin, Boulder, Cambridge, Los
Angeles, Portland, San Jose, Seattle, and Washington, D.C.

^4 U.S. Patent and Trademark Office (2013). “Count of 2000-2011 Utility Patent
Grants as Distributed by Calendar Year of Grant.” Retrieved from:
<http://www.uspto.gov/web/offices/ac/ido/oeip/taf/countyall/usa_county_gd.htm>

^5 U.S. Census Bureau (2010). “Work Area Profile Analysis.” Retrieved from:
<http://onthemap.ces.census.gov/>

^6 Urban Institute (2010) Arts and Culture Indicators Project Data: 2006-2008.
Washington, D.C. Retrieved from: <http://metrotrends.org/data.cfm>

^7 California Institute of Technology (n.d.) “Nobel Laureates – California
Institute of Technology.” Pasadena, CA. Retrieved from:
<http://nobel.Caltech.edu/>

Contact:

For INNOVATE PASADENA
Kristen Morquecho, 626-396-9499 X4103
kmorquecho@spokeo.com
 
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