The fourth annual Siemer Summit ended yesterday in Santa Monica. The event—sponsored by Siemer & Associates, a bank that works with Internet companies—attracts startups looking to pitch their ideas, as well as VCs, angel investors and talent agencies looking for the next big thing.
Many of the companies that presented are local, as Los Angeles' "Silicon Beach" grows in stature. In Q1, $520 million was invested in LA's more than 1,000 startups, and the number of exits more than doubling in the first half of the year.
And VC Investment isn't just growing in Silicon Beach. On Thursday, Dow Jones Venture Source announced that the second quarter was the highest for US VC investment since 2001, with a 21 percent increase in capital invested.