From virtual reality to drones, raising capital to marketing a startup, the upcoming L.A. Tech Summit in Santa Monica will explore the far-flung corners of the local tech industry.
About 800 people are expected to pour into the Fairmont Miramar Hotel for the Oct. 25 event, which has sold out every year since it began in 2013, said Jason Corsello, senior vice president of strategy and corporate development of Cornerstone OnDemand, the main sponsor of the gathering.
“I think it’s become probably the marquee tech event in L.A.,” said Corsello. “It’s in L.A., for L.A.”
The all-day event will start at 8 a.m. and feature a variety of speakers including Ian Siegel, chief executive of ZipRecruiter; Matthew Stoudt, co-founder and chief executive of AppliedVR; and Lindsay Blakely, L.A. bureau chief of Inc. Magazine. The summit is intended to bring together startups, investors, incubators, and later-stage companies from the local tech industry.
Tickets to the event cost $249 and were still available last week; students can purchase tickets for $30. The event is not a moneymaker for Cornerstone, said Corsello; in fact, the company often loses money on the conference but continues to host it because of its importance to the wider tech community.
As one of the largest independent tech companies in Los Angeles, Corsello said Cornerstone has a duty to help shape and influence the industry at large. The company, which develops human resources software, reported $264 million in revenue in 2014 and has more than 500 employees in California.
This year the summit will focus on the diversity of tech, he said, with an added roundtable feature that will bring attendees together with venture capitalists to learn essentials including how to negotiate term sheets and anticipate growth.
While there is a slew of tech conventions these days, the L.A. Tech Summit distinguishes itself with its local focus and ability to draw the “best early stage startups,” said Kristina Shen, vice president at Bessemer Venture Partners.
Shen is moderating a panel at this year’s event, but she’s been attending the summit since it began four years ago, she said. Though Bessemer is headquartered in Menlo Park, the firm has been an active investor in L.A. companies.
“L.A. is probably one of the regions I track most outside San Francisco,” she said.
In fact, Bessemer – with a current fund of $1.6 billion – was an early investor in Cornerstone, she said, and has funded many internet and software companies in Southern California.
“Given our historical successes in L.A. … we found it to be a great region to invest early stage,” she said.
Shen said she attends the L.A. Tech Summit because it’s a great chance to network, reconnect with burgeoning companies, and scout up-and-coming startups.
Opening remarks for the conference will begin at 9 a.m. with a reception and after-party to follow at the Bungalow.
