San Diego life science firms raked in $1.1 billion in venture capital investments in 2016, a total haul that ranks the county second in the state for VC funding after the Bay Area.
The report, published by trade group California Life Sciences Association, showed that San Diego receives a quarter of all the VC investments in the state.
Interestingly, the report also showed that Los Angeles County was experiencing quite a lot of growth.
“For years, the Bay Area and San Diego have been the two poles of California’s entrepreneurial life sciences culture,” the report said. “Despite its size and strength in entertainment, agriculture and other sectors, Los Angeles has remained relatively quiet. The city is starting to play catch-up and has made huge progress in the past few years.”
The report found that the life sciences sector in San Diego employs 38,694 people at an average annual salary of $138,951. Los Angeles County employs 57,174 people, but at a much lower average salary of $73,368.
