Mayor Jerry Sanders and San Diego City Councilmen Kevin Faulconer and Todd Gloria on Thursday helped usher in a new chapter in the ongoing economic revival of downtown with the opening of EvoNexus Downtown San Diego, a unique technology incubator that is home to startups pursuing mobile apps and Internet software.
Sanders, Faulconer and Gloria on Thursday evening helped cut the ribbon on EvoNexus Downtown before an audience of about 200 officials, businesspeople, tech entrepreneurs and invited guests at 101 W. Broadway, a downtown landmark known as the AT&T building.
"San Diego's entrepreneurial economy was built on the kind of creativity and collaboration you find at EvoNexus," Sanders said. "The city of San Diego has a strong interest in helping innovative businesses take root and prosper however we can, and EvoNexus is helping to make that happen."
At the event, Mayor Sanders and Councilmen Faulconer and Gloria presented EvoNexus with a proclamation declaring Feb. 16 "EvoNexus Downtown Day."
"I am proud to support EvoNexus' collaborative effort to support San Diego's growing tech industry and deliver results for small businesses," Council President Pro Tem Faulconer said. "Downtown is home to many of San Diego's long-standing job-creating industries. With the new EvoNexus incubator, it's now home to the most innovative, cutting-edge technology startups in the region."
EvoNexus Downtown operates from about 15,000 square feet of space at 101 W. Broadway, amid the high-rise offices, condominiums, apartments and businesses of downtown. The incubator is home to 13 high-growth, software startups targeting e-commerce, location-based services, social engagement and cloud computing.
EvoNexus is part of nonprofit high-tech association CommNexus and is the nation's only free, community-backed business incubator.
The downtown site is an expansion for EvoNexus, which has run an incubator in the University Towne Centre area of north San Diego since October 2009. The UTC incubator has worked with 14 companies, including six that have "graduated" after raising venture capital funding and moving into space of their own. Companies at the EvoNexus UTC incubator have raised more than $55 million in venture funding since incubation and now employ more than 250 people.
"EvoNexus brings a new model of job creation and ingenuity to San Diego, and I look forward to helping them succeed downtown," Councilman Gloria said. "After launching successful companies and creating 250 jobs from its UTC incubator, we know EvoNexus works and is helping put San Diegans back to work."
Both EvoNexus incubators are hosted by the Irvine Company, San Diego's largest office space provider and a supporter of technology development in the region.
"We are looking for EvoNexus to do for downtown what it did for UTC — spur innovation," said Doug Holte, president of Irvine Company Office Properties. "Working with EvoNexus is part of our commitment to San Diego and to creating environments for young companies to grow."
EvoNexus Downtown San Diego provides startups with furnished, collaborative office space, broadband Internet and utilities, office and technology services and access to business mentoring, consulting and networking.
Space and services are offered free of charge to startups with no strings attached, making EvoNexus unique among incubators. Graduating companies leave with no obligations to EvoNexus and CommNexus.
"As far as we know, we're the only pro bono incubator in the country," said Kevin Hell, chairman of EvoNexus. "We don't ask for anything from the companies while they are here or when they move on. The goal is to grow sustainable tech companies and expand the industry here in San Diego."
With apartments and condominiums, professional services, restaurants, coffeehouses and nightlife within walking distance, downtown San Diego's fashionable city life appeals to young tech entrepreneurs, according to Hell, former chief executive of DivX Inc., a digital video company that's now part of Santa Clara-based Rovi Corp.
"There are a lot of parallels to San Francisco's South of Market, which has become a magnet for social media and mobile app developers," Hell said. "San Diego's vibrant city center already is home to several software developers and tech entrepreneurs, and we are bringing more."
The expansion of EvoNexus is part of downtown's ongoing renaissance, which has turned a once blighted area into a teeming city center of modern condo towers, world-class office buildings, baseball's Petco Park, hotels, restaurants, stores and more.
"EvoNexus adds to an amazing story of business and the City of San Diego working together to create one of the greatest downtown renewal stories in the country," said Kris Michell, president of the Downtown San Diego Partnership, which works to promote downtown and its businesses.
Being downtown provides easy access to "all the resources we need," said Jonathan Simkin, chief executive and cofounder of SwoopThat LLC, developer of a website that helps college students save money on textbooks and one of EvoNexus Downtown San Diego's inaugural companies.
Simkin and colleagues started SwoopThat after being frustrated with high prices for textbooks at university bookstores. The company took root in Simkin's dorm at Harvey Mudd College in Claremont, Calif., before moving to his parents' house in the Del Mar area of San Diego County and then to temporary office space provided by a family friend in La Jolla.
"Being at EvoNexus really helps with credibility," Simkin said. "It will resonate with investors as we look to raise money."
EvoNexus Downtown San Diego works with two types of companies: small, prefunding startups known as "foundry" companies, and more advanced "forge" businesses that are nearer to raising venture capital.
Companies come to EvoNexus through an online application process as well as by referral from members of the CommNexus network, which includes Qualcomm Inc., Hewlett-Packard Co., Sony Corp., LG Corp. and other leading technology companies, professional services firms and financiers. Companies admitted to the incubator go through a vetting process similar to the due diligence done by prospective investors.
EvoNexus affords companies the chance to develop a business concept without having to go out and immediately raise money, according to Rory Moore, CommNexus chief executive and cofounder of EvoNexus.
"EvoNexus gives its startups that extra edge," said Moore, cofounder and former chief executive of San Diego-based Peregrine Semiconductor Corp. "The ability to focus on building up an idea is the EvoNexus advantage."
About CommNexus
CommNexus is San Diego's non-profit technology industry association that works to accelerate the formation, growth, and success of the technology industry in the region. CommNexus delivers value to the technology industry through content-driven programs that provide access to capital, talent and business development. For more information, visit www.commnexus.org
About EvoNexus
EvoNexus is the business incubator of CommNexus and San Diego's only community-supported, fully pro-bono technology incubator. EvoNexus provides full services — furnished office space, domain experts and mentors, and the opportunity to leverage its wide network of business and VC contacts — to start-up companies striving to achieve sustainability. For more information, visit www.commnexus.org/incubator/.
EvoNexus Downtown San Diego
Companies
- Antengo
Real-time mobile classifieds
www.antengo.com
- BigSho
Social webcam game show
bigsho.com
- Chatmeter
Reputation management solution
chatmeter.com
- Fashioning Change
Shopping experience for eco-friendly apparel
fashioningchange.com
- FrostByte Video
Automated personal action video solution
www.frostbytevideo.com
- Saambaa
Social media app to get friends together and see what they're up to
saambaa.com
- SwoopThat
Online textbook shopping by course
swoopthat.com
- TapChow
Cloud-based restaurant experience manager
tapchow.com
- Taphunter
Craft beer finder app
taphunter.com
- UgliApps
Mobile apps focused on food
ugliapps.com
- Voluware
Saas healthcare information software
(website coming)
- Xpenser
Expense, time and mileage tracking
xpenser.com
- Zambig
Ad platform helping radio ads go viral
zambig.com
Contacts:
Irvine Company
Mike Lyster, 949-720-2636
mlyster@irvinecompany.com
or
CommNexus
Bailey
Cunning, 858-768-5055
bcunning@commnexus.org
