If you want to found a startup company in San Diego, then you need to attend the Rady School of Management at UC San Diego. In the last decade, since the first MBA class graduated in 2006, 115 startup companies have been founded. Out of those companies, 75% have remained in San Diego, contributing to the statistic that San Diego is one of the best cities for startups in the US.
The startup companies reflect the broad range of industries that are growing in San Diego. Many of the startups are in biotech and consumer product industries while others are in technology, medical devices, health, consumer services, clean tech, and software. A few of the 115 Rady startups include Alpine Labs (consumer products), Boom Social (consulting), and Owaves (wellness).
In a news release from the University, Rady School Dean Robert S. Sullivan spoke about the growing number of startup companies. “The Rady School MBA program is fulfilling the vision that many of our local leaders held nearly 15 years ago, as evidenced by the founding of 115 operational companies by our students and alumni,” said Dean Sullivan. “It is remarkable to see the school, its students and graduates become an engine for growth in San Diego and beyond.”
To promote the creation of new startups, in 2013, the Rady School launched the StartR Accelerator, which assists Rady students and alumni in developing, funding, and launching their startup. The program accepts six teams, twice a year, and holds workshops, offers mentoring advice, and provides access to a variety of resources. To date, the program has graduated 27 companies.
And in a recent survey of students and alumni, the Rady School revealed that while many of the startups were small, they were growing. The average money raised by Rady School startups was over $2.3 million, and 83% of those companies had a revenue under $1 million. Further survey results revealed that 77% of the companies employed up to 10 employees, 57% rented or owned office space, and 70% expected to grow in the next three years.