Hanging Ten in San Diego
When someone thinks of San Diego, the first few things that come to mind are the great weather and sun-kissed surfers, but while you may come to San Diego for the perfect climate and rad barrels, you will stay for the great opportunities in the life sciences industry!
Often overlooked by life sciences hubs like Cambridge and San Francisco, San Diego boasts the 3rd to 5th largest life sciences market in the US, depending on what report you read. With over 1,000 (1,000!) biotech, pharma and medical device companies in the region and amazing research institutions surrounding them, it’s a hidden gem in the life sciences world.
Companies of all shapes and sizes call San Diego home, from Fortune 500 to startups. Fundraising, IPOs, and M&A activity are at an all-time high, with numerous local life science companies having gone public or many filing (closing in on 100). In fact, since 2015, over $6B in venture capital has flowed into local companies. Employment in the life sciences industry hovers around 50,000 and is growing like the swells offshore. The area’s biomedical community showed the most significant growth over the past year with a 12.5% growth in biopharmaceutical jobs, 21.9% growth in medical device jobs and 10% growth in R&D employment.
San Diego’s rich startup culture attracts scientists, investors and ideas. It’s true that San Diego is highly regarded as a world leader in the research space, but they also have quite a good track record in the development and commercializing fields as well. There is a big focus on oncology and nervous system diseases here, but there are many other therapeutic areas that are working to deliver on unmet medical needs and that’s rad in our books. It’s an exciting time in San Diego and people are stoked about it!
Another bitchin’ fact is this: San Diego has the best commute among the top 20 cities in the US. Compared to Boston and San Francisco, the average life sciences commuter will spend 50-60% MORE time commuting in those markets than in San Diego. That means more time to enjoy the swells!
If you are an employer looking to expand, consider San Diego for this reason as well: over 7,000 Stem graduates are produced annually by the local higher education institutions! Be sure to take advantage of the local talent, before they are swept out to sea (or relocate to another market)!
So, if you come for the surf, be sure to go out on dawn patrol (surfing at sunrise) and then stay for the rad opportunities at one of the many awesome life sciences companies in the San Diego area!
GForce Life Sciences matches highly targeted professionals to executives’ needs in the life sciences space. If you got into your business to focus on the clinical aspects and not the talent aspects, consider a conversation with GForce Life Sciences so you can focus on what you do best and keep hunting for that perfect wave!