Daily Business Report: Monday, Oct. 31, 2022
Techstars San Diego Powered by SDSU
to elevate region’s innovation ecosystem
By Kellie Woodhouse
San Diego’s innovation ecosystem is getting a major boost with the collaboration of one of the region’s premier public universities and one of the top startup accelerator networks in the world.
San Diego State University and Techstars are partnering to create Techstars San Diego Powered by SDSU, the only accelerator in San Diego wih a worldwide footprint.
Techstars partners with organizations like SDSU to provide early-stage founders with a hands-on, mentorship-driven environment while also offering partners access to new technologies and ways of approaching industry- specific challenges.
Through Techstars San Diego Powered by SDSU, founders will receive access to capital, one-on-one mentorship and programming. The program will be uniquely positioned at the SDSU Mission Valley Innovation District, and bring expertise and resources to founders from the San Diego region and beyond.
San Diego bests LA, San Francisco in
attracting leisure and business travelers
By the end of this year, hotel revenue generated by vacationers coming to San Diego — nearly $1.9 billion — is projected to surpass 2019 numbers by nearly 20 percent, in spite of a pandemic that for much of 2020 paralyzed the tourism economy. The numbers outrank Los Angeles and San Francisco. That’s according to a new analysis released this week by the American Hotel & Lodging Association and Kalibri Labs, a firm that forecasts hotel revenue performance. By comparison, hotel revenue from leisure travel for the top 50 U.S. hotel markets is up an average 14 percent, the report found.
California cancer care isn’t equitable; a new law might help
By Ana B. Ibarra | CalMatters
Cancer is the second leading cause of death in California, behind only heart disease. This year alone, the state will tally an estimated 189,000 new cancer cases and close to 61,000 deaths.
Yet while patients often need specialists, treatments and the chance to participate in clinical trials, that access is not equitable throughout the state. It typically depends on where they live, and sometimes on their health insurance.
Lower-income cancer patients — and especially those in rural places — tend to fare worse. Studies have shown that patients with Medi-Cal, the health insurance program for low-income residents, are less likely to get the recommended treatment and have lower cancer survival rates compared to people with private insurance.
This disparity is at the crux of a California bill recently signed into law by Gov. Gavin Newsom that supporters say will make it at least a little easier for Medi-Cal patients to access cancer subspecialists, treatments and clinical trials.
Salvation Army announces its biggest project
to date: a $100 million center to serve the homeless
The Salvation Army on Thursday announced its most ambitious local project, one that will provide more shelter and services for homeless people than anywhere else in San Diego County. The 200,000-square-foot, $100 million project comes at a time when the county is seeing a surge of people living outdoors and a recent report revealed that the number of newly homeless people is outpacing the number of people who are housed each year.
The new building at Seventh Avenue and E Street is expected to open in the winter of 2025-26 under the name Rady Center in honor of longtime Salvation Army supporters, philanthropistsErnest and Evelyn Rady.
Water Authority board approves
landmark Project Labor Agreement
San Diego County Water Authority’s Board of Directors on Thursday approved a Project Labor Agreement (PLA) to govern most of the agency’s future construction contracts. A PLA is a collective bargaining agreement that spells out specific terms and conditions that govern labor issues for given projects. Under the PLA, all contractors are eligible to compete on projects. Those who are the successful bidders follow certain requirements, including hiring locally. The PLA also promotes hiring skilled, reliable workers, while helping to ensure projects are completed safely, on-time and within budget.
The PLA has a five-year term and will include 25 Capital Improvement Program construction projects of $1 million or more that are scheduled to start between early 2023 and 2027. Their collective value is almost $500 million. The PLA will take effect 120 days after board approval and signature by the San Diego Building Trades Council.
Lavine, Lofgren, Morris & Engelbert promote 2 to manager
The accounting firm Lavine, Lofgren, Morris & Engelberg, LLP has promoted Daniel Hill to audit manager and Lacy Pollack to tax manager.
Hill has been with LLME since 2019 providing accounting, auditing and other assurance services to a wide array of clients, including real estate, investment funds, broker-dealers, franchisors, retailers, wholesalers, non-profit organizations and employee benefit plans. Prior to joining LLME, he worked in multiple controller-level positions and has experience in the energy, software and consumer rental industries.
Pollack has been with the firm since 2016 and has experience in a variety of tax areas, including high-net-worth individuals, passthrough entities and trusts. She received her Bachelor of Business Administration with a concentration in accounting and Master of Science in taxation from California State University, Fullerton.
Founded in 1985, Lavine, Lofgren, Morris & Engelberg, LLP is San Diego’s largest independent certified public accounting firm.
Lathan & Watkins elevates Steven Lesan
to partner and promotes Achraf Farraj to counsel
Steven Lesan has been elected partner and Achraf Farraj promoted to counsel at the San Diego law office of Lathan & Watkins LLP.
Steven Lesan is a member of the Complex Commercial Litigation Practice and Litigation & Trial Department. He represents policyholders in insurance coverage and bad-faith disputes involving environmental, property, casualty, investment, professional liability, privacy, and cyber matters. He earned his JD from the University of San Diego School of Law in 2013.
Achraf Farraj is a member of the Real Estate Practice and Corporate Department. He advises clients on real estate and finance transactions, including property acquisitions and dispositions, secured lending, joint ventures, commercial leasing, and energy and hospitality industry project development and financing. He received his JD from Columbia University School of Law in 2011.
Researcher wins WHAM Edge Award
Cecilia Lindestam Arlehamn, assistant professor at La Jolla Institute for Immunology, has been granted more than $25,000 through a Women’s Health Access Matters (WHAM) Edge Award to support new research into Parkinson’s and Alzheimer’s disease. Lindestam Arlehamn aims to shed light on how sex-based immune system differences may affect the development and progression of these neurodegenerative diseases in men versus women. “This research could really validate whether sex-based differences are a fundamental variable in these diseases,” says Lindestam Arlehamn. “That finding could lead to better therapies and diagnostics.”
Neighborhood Healthcare launches new
Dental Mobile Health Center for children
Neighborhood Healthcare, a regional federally qualified health center providing a wide range of health services, has received a $50,000 grant from Delta Dental to launch its Virtual Dental Home service for children. The funds enabled enabled the nonprofit organization to purchase a new Dental Mobile Health Center to reach children whose families experience difficulty getting to one of its facilities. The Dental Mobile Health Center is a 40-foot vehicle self-contained with two exam rooms and state-of-the-art, portable dental units. It also includes a wheelchair lift, hydraulic chairs, portable x-ray devices, and running water.
UCSD selected to launch
AI postdoc fellowship
UC San Diego is one of nine top universities selected by Schmidt Futures to host its $148 million Science Postdoctoral Fellowship — a program designed to accelerate AI inovation in life sciences. This news comes the same week the university’s bioengineering department was gifted $25 million from biotech innovator Gene Lay to support faculty recruitment and retention, and enhance workforce development for undergrads.
USD receives $1.5 million to launch program for Black students
University of San Diego’s School of Leadership and Educational Sciences has received a $1.5 million grant from the San Diego Foundation to develop its Black InGenius initiative — a college access and early literacy program for Black students in San Diego. Sixty sixth-grade students will receive academic support for seven years from university students and faculty, as well as personalized financial assistance once accepted into USD.
Sorrento Mesa’s Pleno raises
$40 million Series A funds
Biotech startup Pleno has closed a $40 million Series A round. The local company will use the funds to strengthen it biological target detection and research efforts, and further develop its unique DNA and RNA Hypercoding technology — a platform that aims to reduce costs and broaden access to genotyping and sequencing advancements.
Sempra ranked top utility
for environmental, social, governance goals
San Diego-based Sempra has been ranked as the top utility in the United States for achieving environmental, social and governance goals while delivering consistent profitability.
Investor’s Business Daily, a Los Angeles-based financial newspaper and website, ranked Sempra first among utilities and 13th overall in its annual list of the 100 Best ESG Companies. Jeffrey Martin, chairman and CEO of Sempra, said his company is “incredibly honored” because the utility is investing in clean energy “on a mission to build one of the largest and most resilient energy networks in North America.”
ScienceMedia joins forces with leading
advocate for life sciences in California
ScienceMedia has joined Biocom California at the Provider level of membership, connecting to more than 1,700 member companies and 500,000 employees across California and beyond. Biocom California is the leader in accelerating life science in California by advocating for innovation, removing barriers to doing business, and connecting people, talent, and capital. Headquartered in San Diego, the partnership solidifies ScienceMedia’s commitment to their California community of life science and pharma organizations that share the same goal of supporting innovative science and positive impacts on patients’ lives.
UC San Diego named among world’s top 20 universities
By Amanda Rubalcava
The University of California San Diego has been ranked among the top 20 universities in the world, according to U.S. News and World Report’s 2022-2023 Best Global Universities.
In the newly released list, UC San Diego maintained its rank as No. 6 among the nation’s top public colleges. UC San Diego was also ranked as the No. 15 university in the U.S. and No. 20 in the world—rising one spot both nationally and globally from the previous year.
The university also placed among the top 10 universities in the world in seven subject areas and among the top 20 in 12 subject areas, including being ranked No. 1 in Gastroenterology and Hepatology and No. 3 in Microbiology.
Community College District holds Nov. 17 Career Fair
The San Diego Community College District Career Centers at City, Mesa and Miramar, and the College of Continuing Education are partnering to hold their first-ever in-person Career Fair on Thursday, Nov. 17. It will be held from 10 a.m. to 2 p.m. at San Diego Mesa College, 7250 Mesa College Drive, San Diego (outside Mesa Commons). Register in advance.
