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Long Beach Public-Private Partnership Announces City’s First Startup Accelerator

Sunstone Management, City of Long Beach Economic Development
Department and California State University Long Beach’s Institute for
Innovation & Entrepreneurship partner to attract top entrepreneurs

LONG BEACH, Calif.–(BUSINESS WIRE)–Long Beach has announced plans for its first ever startup accelerator,
signaling that the city aims to become a destination of choice for
tech-based innovators. The announcement was delivered by Mayor Robert
Garcia, California State University Long Beach (CSULB) President Jane
Conoley and Sunstone Management Founding Partner John Shen at the annual
Long Beach Regional Economic Forum, emphasizing that the innovative
public-private partnership is set to strengthen the area’s
entrepreneurial ecosystem and attract top talent.

The first of its kind in Long Beach, the university-affiliated
accelerator awaits final city approval but is expected to welcome its
first cohort of entrepreneurs by August 2019. The accelerator will
prepare early stage tech-startups to successfully secure funding as well
as provide valuable resources, including physical space for
participating entrepreneurs to develop capacity, technical assistance
with seed-round funding and a network of investors to identify and
finance opportunities with capacity to scale.

Sunstone, an international diversified capital management and investment
firm based in Long Beach, will act as the primary private funding
partner and house the new accelerator. Sunstone’s John Shen, recently
appointed to the city’s Economic Development Commission, stated, “We are
thrilled to be a part of this new local project that will have
wide-reaching economic benefits for the city and for entrepreneurs
across the country. We want to provide a comprehensive pathway for
startups to secure seed-round funding and access to potential investor
networks.”

John Keisler, the City of Long Beach’s director of economic development,
remarked: “Today’s tech entrepreneurs are transforming our economy
across every industry. The Long Beach Accelerator will put our city on
the map for potential entrepreneurs and drive growth for years to come.”

Wade Martin, director of CSULB’s Institute for Innovation &
Entrepreneurship, added, “Each partner brings a particular set of
resources and competencies needed to launch and sustain this innovative
new collaboration. CSULB is committed to nurturing and mentoring the
entrepreneurs of the future.”

About Sunstone Management

Sunstone Management, with subsidiary Sunstone Venture Capital Fund, is a
diversified private capital management and investment firm offering
comprehensive wealth management solutions to high net worth clients
worldwide, in particular U.S. new-immigrant families. Focusing on
investments in U.S. based small businesses and lower middle markets, its
offerings are carefully structured to meet targeted investor goals
ranging from short term senior debt products to longer term, equity,
growth capital, and venture capital investment strategies.

About CSULB Institute for Innovation & Entrepreneurship

The mission of the CSULB Institute for Innovation & Entrepreneurship
(IIE) is to provide programming and guidance for innovators and
entrepreneurs that leads to success. The IIE is a central hub for
innovators and entrepreneurs in Long Beach, with programming and
services to support long-term economic growth that is inclusive and
sustainable for our diverse community.

About the City of Long Beach

Home to approximately 470,000 people, the multiple award-winning and
innovative City of Long Beach offers all the world-class amenities of a
large metropolitan city while maintaining a strong sense of individual
and diverse neighborhoods nestled together along the California coast.
As a full-service charter city, Long Beach is home to the Queen Mary,
Aquarium of the Pacific, several museums and theaters, a highly-rated
school district, Long Beach Airport, the Port of Long Beach, as well as
many award-winning City departments such as Health, Parks, Recreation
and Marine, Development Services and more.

Contacts

Media Contact:
Dana Doran
[email protected]
202-207-3650

Sunstone Management, City of Long Beach Economic Development
Department and California State University Long Beach’s Institute for
Innovation & Entrepreneurship partner to attract top entrepreneurs

LONG BEACH, Calif.–(BUSINESS WIRE)–Long Beach has announced plans for its first ever startup accelerator,
signaling that the city aims to become a destination of choice for
tech-based innovators. The announcement was delivered by Mayor Robert
Garcia, California State University Long Beach (CSULB) President Jane
Conoley and Sunstone Management Founding Partner John Shen at the annual
Long Beach Regional Economic Forum, emphasizing that the innovative
public-private partnership is set to strengthen the area’s
entrepreneurial ecosystem and attract top talent.

The first of its kind in Long Beach, the university-affiliated
accelerator awaits final city approval but is expected to welcome its
first cohort of entrepreneurs by August 2019. The accelerator will
prepare early stage tech-startups to successfully secure funding as well
as provide valuable resources, including physical space for
participating entrepreneurs to develop capacity, technical assistance
with seed-round funding and a network of investors to identify and
finance opportunities with capacity to scale.

Sunstone, an international diversified capital management and investment
firm based in Long Beach, will act as the primary private funding
partner and house the new accelerator. Sunstone’s John Shen, recently
appointed to the city’s Economic Development Commission, stated, “We are
thrilled to be a part of this new local project that will have
wide-reaching economic benefits for the city and for entrepreneurs
across the country. We want to provide a comprehensive pathway for
startups to secure seed-round funding and access to potential investor
networks.”

John Keisler, the City of Long Beach’s director of economic development,
remarked: “Today’s tech entrepreneurs are transforming our economy
across every industry. The Long Beach Accelerator will put our city on
the map for potential entrepreneurs and drive growth for years to come.”

Wade Martin, director of CSULB’s Institute for Innovation &
Entrepreneurship, added, “Each partner brings a particular set of
resources and competencies needed to launch and sustain this innovative
new collaboration. CSULB is committed to nurturing and mentoring the
entrepreneurs of the future.”

About Sunstone Management

Sunstone Management, with subsidiary Sunstone Venture Capital Fund, is a
diversified private capital management and investment firm offering
comprehensive wealth management solutions to high net worth clients
worldwide, in particular U.S. new-immigrant families. Focusing on
investments in U.S. based small businesses and lower middle markets, its
offerings are carefully structured to meet targeted investor goals
ranging from short term senior debt products to longer term, equity,
growth capital, and venture capital investment strategies.

About CSULB Institute for Innovation & Entrepreneurship

The mission of the CSULB Institute for Innovation & Entrepreneurship
(IIE) is to provide programming and guidance for innovators and
entrepreneurs that leads to success. The IIE is a central hub for
innovators and entrepreneurs in Long Beach, with programming and
services to support long-term economic growth that is inclusive and
sustainable for our diverse community.

About the City of Long Beach

Home to approximately 470,000 people, the multiple award-winning and
innovative City of Long Beach offers all the world-class amenities of a
large metropolitan city while maintaining a strong sense of individual
and diverse neighborhoods nestled together along the California coast.
As a full-service charter city, Long Beach is home to the Queen Mary,
Aquarium of the Pacific, several museums and theaters, a highly-rated
school district, Long Beach Airport, the Port of Long Beach, as well as
many award-winning City departments such as Health, Parks, Recreation
and Marine, Development Services and more.

Contacts

Media Contact:
Dana Doran
[email protected]
202-207-3650

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