Operations

Seattle Home for Technology Start-Ups, Young Companies

Posted on February 13, 2008 by LCT Staff - Also by this author - About the author

SEATTLE — Many communities dream of becoming the next Silicon Valley. This one is actually doing it.

Stroll through the hip Fremont District and you will sense the Valley vibe. Google recently opened a research lab here, its second in Microsoft’s backyard.

Technology start-ups are sprouting up amid quirky neighborhood landmarks like a bronze statue of Lenin and the Fremont Troll, the giant concrete creature lurking beneath the George Washington Memorial Bridge.

More young companies are moving in downtown, near the art galleries and bookstores around Pioneer Square. Still others are spreading into the surrounding suburbs.

“The Seattle start-up ecosystem is vibrant, and growing rapidly,” said Oren Etzioni, an artificial-intelligence expert at the University of Washington and a serial technology entrepreneur.

The University of Washington, in fact, is one of the big draws. It is fostering the entrepreneurial climate here the way Stanford University does in Silicon Valley. Another advantage is the tech-savvy talent at the Seattle-based Amazon and nearby Microsoft.

Microsoft offshoots, sometimes called Baby Bills, after Bill Gates of Microsoft, are being joined by Amazon progeny called Baby Jeffs, for Amazon’s Jeffrey P. Bezos. Baby Sergeys — those formed by veterans of Google, which is based in Mountain View, Calif., and was co-founded by Sergey Brin — are opening here, too, Etzioni said.

The influx of entrepreneurs and of venture capitalists to bankroll them is slowly reshaping this city and a regional economy long buffeted by the booms and busts of the aerospace and timber industries. A start-up ecosystem needs social networks, support businesses and a business culture that views failure as a badge of honor, not shame. All of that is in place in Seattle.

Money is pouring in. During the last 12 years, venture capital investment here has more than tripled, to about $1 billion annually. Last year Washington tied with Texas as the third-largest destination for venture capital money nationwide, behind California and Massachusetts.

A crucial part of the chemistry is the University of Washington, in particular its computer science and electrical engineering departments. Washington State ranks first nationally in engineers employed for every 10,000 workers and in percent of total payroll in high technology.

SOURCE: New York Times

View comments or post a comment on this story. (0 Comments)

More News

Rhode Island Operation Buys Wedding Trolley Service

Operator John Olinger of ROCKSTAR LIMO / O2 Global plans to grow the fleet of Kenny's Coach and Trolleys.

Sister Duo Absorbs What Industry Offers

eNews Exclusive: Briana and Chelsea Candeub of Park Avenue Limousine have learned the importance of never letting educational opportunities pass them by.

Luxury Travel Trends Disrupting The Industry

Brands can no longer rely on low-hanging fruit. Instead, they need to implement differentiating strategies to succeed going forward.

Chosen Payments Assists Operator Who Was Scammed

A suspect used a mobile app to place ride orders directly into a New Jersey company's software system.

Young Limo Entrepreneur Makes His Mark On The Industry

ENEWS EXCLUSIVE: Moe Ahmed started his California-based company at 18 and proves anything is possible when you have an incredible work ethic.

See More News

Facebook Comments ()

Comments (0)

Post a Comment

Submit

Blog

See More

LCT Store

LCT Magazine - March 2017 $12.95 INT'L LCT SHOW ISSUE COVER STORY: * Innovate or Die: Show To Be a Business "Disrupter" * *



Connect

Experience the three annual industry events for networking for business, showcasing vehicles and products, and getting the tools for success.

Read About Your Region

What’s Happening Near You?
Click on any state to see the latest industry news and events in that region.

More From The World's Largest Fleet Publisher

Automotive Fleet

The Car and truck fleet and leasing management magazine

Business Fleet

managing 10-50 company vehicles

Fleet Financials

Executive vehicle management

Government Fleet

managing public sector vehicles & equipment

TruckingInfo.com

THE COMMERCIAL TRUCK INDUSTRY’S MOST IN-DEPTH INFORMATION SOURCE

Work Truck Magazine

The number 1 resource for vocational truck fleets

Metro Magazine

Serving the bus and passenger rail industries for more than a century

Schoolbus Fleet

Serving school transportation professionals in the U.S. and Canada

Please sign in or register to .    Close