June 17, 2024

Brad Marolf

Business & Finance Wonders

This week in Santa Cruz County enterprise: Westside medtech agency Captsan Health care raises $31.4m in Collection B

As we emerge from the COVID-19 pandemic and its lingering outcomes on economies almost everywhere, we’ll be getting a nearer glimpse at the movers and shakers, the development of industries, and what is definitely driving the Santa Cruz County financial system. I’ll be spotlighting some of the most important parts for opportunity, updates on regional development and all things underpinning the regional enterprise scene each Wednesday.

Bought strategies? Deliver them my way to [email protected] with “Business news” in the subject line.

Wanting at the point out of the county’s tech scene with Doug Erickson

Santa Cruz Works founder Doug Erickson.

The tech sector has been hit tough the previous number of years, and analysts anticipate that tech layoffs in 2023 will exceed the variety in 2022. Amazon, Google and Zoom are just a handful of of the big names that have produced cutbacks this year. So far, there have been about 234,000 individuals laid off globally this year, in accordance to the tracker Layoffs.fyi. (These quantities are based mostly on the place the corporations are headquartered, not where the influenced workforce live.)

At the area stage, we haven’t noticed as substantially effects from this development, in massive section since of the scarcity of huge tech offices here, as Bonnie Lipscomb, financial enhancement director for the Metropolis of Santa Cruz, stated before this 12 months. Having said that, that doesn’t account for folks who are living right here but operate remotely or commute to positions for tech firms situated in other places.

On the neighborhood tech front, a person of the most considerable developments in the previous few of a long time has been the rise of Joby Aviation. There is also been a slew of current funding bulletins, which includes from Capstan Healthcare and Ambient Photonics in the past couple of weeks. What does all this signify? Are we on the up-and–up? What’s upcoming with our area tech scene?

For context, I spoke with Doug Erickson. Erickson, the founder of Santa Cruz Will work, a longtime veteran of the market (and Local community Voices contributor) who has pretty substantially found it all. These times he’s also placing his initiatives at the rear of Santa Cruz Ventures, an investment fund focused on furthering the growth of technologies companies in Santa Cruz, Monterey and San Benito counties.

The critical takeaways from his standpoint?

  • Potentially unsurprisingly, he believes the potential is in synthetic intelligence: “AI has occur at us so rapidly. Most undertaking money funding currently is going to AI providers as opposed to pure software companies. We’re seeing the very same issue in biotech. This is speedier than anything we’ve at any time viewed in the tech entire world and it’s not heading absent.”
  • Distant work is an prospect to expand our tech community and foster much more entrepreneurship at the area level.
  • Cost-effective housing continues to be the No. 1 component when it comes to firms doing small business in Santa Cruz, even for tech.
  • Hold a shut eye on Joby Aviation.

See my whole interview listed here.

Arrow Surf & Activity moves to new area (quickly)

The shopping center on the corner of Mission Street and King Street as renovations began in April.

The shopping middle on the corner of Mission Street and King Avenue as renovations commenced in April.

(Kevin Painchaud / Lookout Santa Cruz)

As renovations continue on at the procuring plaza on Mission and King streets on the Westside of Santa Cruz, longtime surfboard retailer Arrow Surf & Activity has a temporary new location.

The shop, which employs about eight to 10 folks, has just concluded a move to 2100 Delaware Ave., Suite A, around Swift Avenue, claimed proprietor/manager Tim Pearson, whose uncle started the firm. Pearson claims they anticipate renovations at their first spot could acquire six months to a 12 months, and they prepare to return after it is ready.

Whilst hrs for the new locale are even now being finalized, they are fully useful in the new house, for profits, rentals and repairs, Pearson explained. The retail outlet can be reached at 831-423-8286.

Pearson’s uncle, Bob Pearson, started the enterprise back again in 1976. In addition to the retail site, Arrow also operates a manufacturing unit on the Eastside.

Arrow’s neighbor in the Mission Street browsing plaza, La Cabaña Taqueria, announced on its social media channels that it would be closing for the duration of renovations.The restaurant’s previous day was Sept. 7 no timeline for reopening has been introduced.

Scotts Valley’s Ambient Photonics raises $30 million for photo voltaic cell technological innovation

Ambient Photonics' indoor bifacial solar cell can generate power on both sides of the cell, the company writes.

With its proprietary minimal-light-weight electricity harvesting technology, Ambient Photonics is aiming to switch disposable batteries in devices these types of as remote controls, keyboards, mice and other connected devices. Read additional below on its ideas.

Ch-ch-variations: Openings, closings and other developments

  • Abbott SPI hits ten years mark: The safety guard provider, primarily based in downtown Santa Cruz, celebrated 10 many years in organization this thirty day period.

Obtained hires, promotions or departures to report? Deliver them to [email protected] with the subject matter line “Career changes.”

Save the day

Incorporate your enterprise or networking gatherings to Lookout’s cost-free public calendar, BOLO. Click here to include your function.

  • Wednesday: 5 finalists will compete in Santa Cruz Works’ pitch contest to get $5,000 for their enterprise at 6-8 p.m at the Seymour Marine Discovery Center in Santa Cruz. Information and tickets below.
  • Thursday: The Santa Cruz County Chamber of Commerce’s annual enterprise and health and fitness expo at the Santa Cruz Beach front Boardwalk. Details below.
  • Thursday, Sept. 21: The Closet Shopper & Stay Happier Wellness host a organization mixer for nearby business enterprise house owners from 5-7 p.m. at 1203 41st Ave., Capitola.
  • Thursday, Oct. 5: The Santa Cruz County Chamber of Commerce hosts a Women’s Leadership Convention at the Chaminade Vacation resort & Spa. Information here.

Hunting at the figures

  • $55,000: That’s the asking price for the Santa Cruz Mountain Bulletin, a monthly newspaper focused on the San Lorenzo Valley location. Check out the listing here.
  • 104%: The development of expending in downtown Santa Cruz as of spring 2023 when as opposed to pre-pandemic 2019, in accordance to the Downtown Affiliation of Santa Cruz.

Enterprise news worthy of reading

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