Breakout Session, Panel, Conference Presentation, Statement, Fireside Chat
Made in California: Presentations from California Grown Startups
Milken InstituteDorothy Rothrock, Ian Coll McEachern, Gordon Fowler, Gabe Grifoni, Susie Harborth, Stella Kramer, Carmen Palafox, Dolly Singh, Ken Sunshine
- Hardware and biotech sectors are expected to see accelerated growth driven by reduced capital barriers, with projections that the hardware entrepreneur myth of being capital-intensive is being debunked to enable new manufacturing startups.
- By 2020, the probiotic industry is forecast to grow significantly, with a specific goal to cure dysbiosis and reduce manufacturing time per formula from four hours to 10–15 minutes while consolidating formulations to approximately 20 types.
- Sangenomics (mentioned by Susie Harborth and Stella Kramer) aims to expand its membership to about 30 within the next two years and plans to disrupt the industry by addressing the claim that 85% of current shelf products are ineffective.
- The workforce and economic model are predicted to shift heavily toward solopreneurship and remote work, with Gordon Fowler forecasting that over half of the US workforce will be remote by 2020 and the economy moving away from traditional "hoodie in the garage" models.
- Sacramento's innovation ecosystem has seen a five-year proliferation from five to 95 maker spaces, incubators, and accelerators, creating a community-based environment where companies are expected to stick and thrive.
- In the aerospace sector, Ken Sunshine anticipates launching 125 to 200 times annually, aiming for commercial flights next year and cash flow break-even the following year, while addressing space junk concerns with dedicated small satellite vehicles.
- Financial targets include Ian McAthern's plan to increase sales by 300% over the prior year and reach 50 customers, following a 3,000% increase the previous year, while Ken Sunshine projects several hundred million dollars in annual business from launch services.
- Market positioning strategies involve Carmen Palafox positioning a fashion footwear brand as the "Nike" of the sector with a plan to white-label and scale technology, alongside an expectation that Los Angeles will be the second-largest venture capital market globally.
- Technological advancements in agriculture and biotech include the use of "food computers" to test seeds against predicted climate data, alongside a broader "age of biology" trend focused on gene therapy, personalized medicine, and targeted therapies.
- Operational risks and gaps include a lack of skilled workers in California requiring international recruitment, a disconnect between investor sectors (internet vs. life science) hindering convergent companies, and the need to move beyond solopreneurship to leverage economies of scale.
- The fashion and consumer goods sector is expected to increasingly prioritize wellness, mobility, and technology, driven by a shift in consumer values over the last decade regarding these attributes.
- Future manufacturing in California is predicted to differ from traditional visions by becoming "software-enabled," integrating hardware with software and connected operators to create new value propositions.