binarypublishCentral California is being touted as the next big tech startup hub, with HawkTower leading the charge. The company plans to launch a venture capital fund that supports AI-driven startups in the region. The move comes as institutional forces in academia, industry, and government are increasingly focused on fostering local startups to meet commercial, environmental, economic, and societal needs. While California as a whole has a high retention rate for graduates, retaining talent in specific counties and regions, like Monterey County, has been a challenge. HawkTower’s analysis reveals that a significant number of tech workers from Monterey County are seeking job opportunities outside the region, resulting in a loss of local wages. However, data suggests that if similar job opportunities were available locally, many tech workers would be inclined to return. Returnees often bring higher education and practical skills honed from wider experiences, which can contribute to the growth of local businesses and startups.
Central California has the potential to become a thriving startup hub, but it will require proactive measures to retain talent, along with strong research partnerships, industrial collaboration, and governmental support. By taking these steps, Central California can compete with other states and attract a highly accomplished and successful workforce.
