A leading center for innovation and entrepreneurship globally, San Diego ranks sixth in the world for venture capital investment per capita. The region's businesses and research institutes successfully compete for financing, at both the local and national levels, garnering the support of VC investors and business incubators across the globe. A testament to the region's entrepreneurial climate, San Diego venture capital funding totaled $1.4 billion in 2015. The San Diego region is also a magnet for federal grant funding. San Diego's research institutes, universities and independent hospitals received $743 million NIH funding in total for R&D in 2014 - more than any metro in the U.S. In addition to being the top ranked metro overall for independent research institute funding from NIH, San Diego is home to three of the top ten most funded independent research institutes.
The California Competes Tax Credit, an income tax credit negotiated between the Governor’s Office of Business and Economic Development (GO-Biz), supports businesses that want to relocate to or grow in California. In 2015, California Competes provided more than $19.7 million in tax credits to 38 San Diego companies - 13 percent of the total tax credits awarded and the second highest of all regions in the state. Some San Diego recipients include Taylor Guitars, General Dynamics NASSCO, Hunter Industries and more.
There are more than 25 incubators and accelerators in San Diego, lending themselves to the region's small business ecosystem.
San Diego County ranks second nationally in best return on investment in local public companies, according to the CNBC financial network. The 40-metro Power City Index for 2015 recorded San Diego at 15.4 percent, beating out Silicon Valley at 14.6 percent.
San Diego Venture Group’s annual Pitch Fest! competition provides innovative San Diego companies with the opportunity to compete for funding to enhance business development and growth.
“Qualcomm Labs @ EvoNexus” is a business innovation program, operating out of EvoNexus, which provides start-up tech companies with the resources and connections needed to advance their goals.