California is the world’s eighth largest economy, and the state produces more intellectual property than all other US states combined. It is known globally as the birthplace of innovative ideas and successful companies, leading the way in commercialization of academic research to change lives, create jobs, and foster equity and social justice. Californian high-tech companies employ approximately 1 million people, with a payroll of about $100 billion. 66% of net new-job creation comes from companies younger than five years.
The iHub program was conceived by the California Governors office of Business and Economic Development (Go-Biz) to leverage convergence wherever possible among stakeholders, knowledge centers, incubators and financiers to propel new businesses towards success and to multiply innovative energy in specialized fields. Since 2010, twelve innovation hubs have been created to form a robust, statewide, innovation-based economic-development support network to stimulate local, regional and statewide job creation.
OCTANe was one of the original six designated iHubs in the State of California and has been an active member of this group since 2010. Through this program we are able to effectively leverage the success of our and other regions’ most innovative programs across the state, provide a vital conduit of information flow from our state capital, and ensure that our constituents have an active and resonant voice in Sacramento.