If there is any question that Oakland is becoming a tech hub, that doubt should be quashed by a new report that ranked Oakland as 9th among U.S. cities attracting tech investment last year. And in the first quarter it appears to have moved up to 5th.
The National Venture Capital Association with assistance from Thomson Reuters and PriceWaterhouse Cooper, ranks the U.S. cities attracting the most venture capital investment and Oakland came in ninth for the year 2013, with 79 deals totaling $673,600 invested in 66 companies.
San Francisco ranked first, with 784 deals totally $7 million invested in 659 companies. It was followed by San Jose, Boston, New York, Washington, D.C., Los Angeles, Seattle and San Diego before Oakland, in that order. Ninth was pretty good, putting Oakland squarely in the top 10 cities for tech, and ahead of Dallas, Chicago, Austin and Atlanta, among others in terms of investment capital attracted.
But according to WealthManagement.com, Oakland moved up to fifth in the first quarter, with 26 deals totaling $262 million, behind San Francisco, San Jose, Boston and New York.
Oakland mayor Jean Quan tweeted “Critical part of our work is ensuring that as we absorb new money & jobs coming to Oakland, we give ALL our communities access to that growth,” after WealthManagement.com tweeted the top 10 cities and their photos.
Across the country, venture capital investment grew to double what it was a year ago, up to $8.8 billion from $4.3 billion in last year’s first quarter.
LiveWorkOakland has been chronicling this explosion of tech entrepreneurism – and entrepreneurism generally – in Oakland. We’ve also been tracking efforts to include community and benefit the community in the new emerging industry. Numerous non-profits are working on this effort, from the Kapor Center for Social Impact, to Yes We Code to Hack the Hood to Impact HUB Oakland.