Los Angeles is quickly becoming the go-to destination for young people looking to study business abroad.
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In-person programs will restart after corona virus pandemic.
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In this article:
- Los Angeles as a creative hub: get exposed to different ways of thinking and bolster.
- Benefits of living abroad meeting different cultures/internationals.
- Business study/experience in Los Angeles, why Los Angeles?
- Some short global studies can be considered MBA alternatives.
- Living and working with other internationals and locals, like digital nomads.
- The importance of hands-on activities.
- Outside the academic bubble, in the real world but it’s still a safe environment.
Los Angeles as Creative Hub.
Los Angeles is a sprawling metropolis that attracts the best and brightest to come and enjoy a vibrant community with great weather and boundless opportunities. One reason for LA’s incredible energy is the fact that it is one of the most diverse cities on the planet with almost 50% of residents born abroad.
With numerous people from all over the world residing here, it makes sense that there would be a positive feedback effect resulting in more people coming to this city from abroad. People are pouring into the city for all kinds of reasons, whether they’re here for business, to continue their studies, or on an extended holiday.
For those coming to edify themselves through a short study abroad stint, grad school, other learning opportunities or for one of LA’s multiple specialized educational programs find themselves poised to receive an incredible education in an even more incredible city.
Los Angeles’ academic scene is home to some of the top universities around the globe. With so much going on in LA, it makes sense that people all over the world are coming to explore their academic opportunities.
25,000+ international college students are expected to study in Los Angeles, the most of any city in the United States.
200+ universities and colleges offering an assortment of undergraduate and graduate degrees.
1000’s of different specialized programs teaching all kinds of things.
Business Abroad Study Programs
Business study programs are becoming increasingly popular among those coming to LA for educational purposes. For several of them, this can mean anything between pursuing a Master of Business Administration at schools such as USC and UCLA or for some more entrepreneurial-minded individuals, this might mean enrolling in a short MBA alternative program.
Is a so-called MBA alternative program really worth it in Los Angeles?
Let’s dig into the reasons why an in-person entrepreneurship program in Los Angeles has its advantages.
What are the advantages of studying in a global business program in Los Angeles?
The entrepreneurship hub has been exploding in Los Angeles over the past decade with no signs of slowing down any time soon. Today “Silicon Beach” is home to some of the most innovative and startups on the planet.
Some of these individuals are young entrepreneurs looking to gain practical business knowledge without the time and money constraint that studying at MBA demands. MBAs cost a student $60,000 on average and as much as $110,000 at top schools, definitely not easy financial outlook. And there is an abysmal amount of scholarships available for candidates.
Requirements for full-time, multi-semester Grad courses that are offered can be incredibly stringent, requiring time-consuming university standardized testing (GMAT, GRE, etc) with their administrative workload and deadlines, and application processes that can be very distracting for young founders.
It can also be difficult to navigate the confusing application process as one sifts through all the information available online. Schools sometimes encourage hiring consultants because they can provide an excellent understanding but the cost of the benefit can be very expensive.
Students at these institutions will be able to live and work with other international and locals, like digital nomads. They can work on their projects or in intensive business-oriented internships.
The cost of living in LA is noticeably cheaper than in other high target places for businesses such as San Francisco and New York.
Although it has historically been viewed as a fashion, media, and entertainment hub. LA is also a manufacturing powerhouse in addition to being an important city for aerospace, biotech, and cleantech!
Little known fact: LA is the largest manufacturing center in the entire U.S according to the Bureau of Labor Statistics! This means that upcoming companies have a strong source of material to draw from as they build up.
LA County is also a great home for Aerospace companies, with more than 300 aerospace oriented companies calling it their home. Some of the major names being the NASA JPL, Boeing, SpaceX, and Virgin Galactic.
BioTech is yet another titan industry that calls Los Angeles home thanks to the research of world-renowned universities like CalTech and UCLA. Thanks to the work of the BioTech industry here, LA has one of the most innovative and trusted healthcare providers available in the country. Los Angeles’ foremost healthcare providers include the Cedars-Sinai Hospital, UCLA Medical Center, and USC Keck School of Medicine.
CleanTech is thriving due to the efforts of entities like the LACI (Los Angeles Cleantech Incubator) and initiatives by the city. The LACI portfolio of companies includes Perch, Seatrec, and GreenCommuter. These companies are trailblazers in the industry and are sure to bring positive change to the world
In addition to maintaining a powerful presence in those sectors, Los Angeles is quickly becoming a powerful ecosystem for entrepreneurship, specifically tech entrepreneurship.
With several of those such tech companies belonging in part to one or more of those historic sectors. LA is well poised to make big leaps forward with the massive influx of resources that are being invested into it.
Venture capital firms invested an LA specific record of $6.5B in 2018 with that figure expected to be exceeded this year. This will provide much-needed capital to the numerous new and existing startups in the city.
LA startups tend to be more diverse in terms of focus sector than in other cities, even among the tech startups. This may be due to the diversity in the economy that Los Angeles enjoys.
The City of Los Angeles Mayor’s office has implemented a plethora of initiatives that aim to booster aspiring businesses from the town itself or from abroad. Starting in 2014, the city created an “Entrepreneur in Residence” program that looks to draw counsel from notable business-persons.
New companies seem to be sprouting up everywhere. Entrepreneurial spirits are very high in Los Angeles, one in every 200 residents is a business owner.
Investors such as Peter Thiel, of Thiel Capital, are leaving the oversaturated venture market in the Bay to move to LA because of the unique prospects present here. Other investors, for example, Austin Clements, of TenOneTen Ventures, are doubling down on their stakes in Los Angeles.
Despite being one of the world’s preeminent cities, LA refuses to sit on its laurel wreaths and is constantly making moves to innovate and improve upon itself. With one of the world’s largest populations and growing still, this metropolis has projects in the works that it anticipates are crucial to meeting the needs of its denizens.
The Greater LA area is working hard to revamp its infrastructure to serve 18 million people with huge real estate and road projects.
The city is incredibly ambitious in its efforts to switch to clean energy and is working to close all coal plants in 2025. Los Angeles enjoys sunny weather for most of the year so the transition to Solar Energy will be an important factor in this transition.
New metro lines are expected to be finished soon, with the Crenshaw line expected to be operating sometime this year. Another nearly 2 mile line which will cost around $1.8 billion is expected to be available in 2021. The most ambitious project is a $64 billion high-speed train that will connect Los Angeles to San Francisco.
Besides those compelling projects in development, LA has many other exciting developments in the near future. Some of these include a new football and entertainment stadium, the 2020 Olympics, and an expansive man-made river. It’s very exciting to be an Angeleno!
NFL teams, the LA Rams and Chargers are happily anticipating the completion of their new $2.6 billion dollar home stadium in Summer 2020. These two teams played at an exceptional level last season, both advancing deep in the NFL playoffs. Maybe an LA v LA Super Bowl is in the future.
The City of Angels successfully won the bid for the 2028 Olympics and has plans in the work that will prepare the city to welcome the world for the games. The city hosted the games back in 1984 and is considered to be one of the most successful games ever, fiscally speaking thanks to the efforts of local entrepreneurs and financiers.
LA also has plans for a massive river project, not so cleverly, dubbed the “LA River” that will run through the heart of the city and looks to unite the community. It is projected to stretch 11 miles and will sustainably serve as a giant recreation zone.
With so many exciting things coming soon to LA, it’s no wonder people around the world are flocking to the city. And with them, they are bringing an infectious entrepreneurial spirit. There has always been a disproportionate amount of foreign founders in the entrepreneurial space, with more than a quarter of businesses in America launched by people born outside the U.S. Many of those such founders are quickly finding a home in LA for their ideas to thrive. This city offers many opportunities for people to exchange ideas and cultures in a way that’s consistent with the American way of life.
Foreign founders often express satisfaction with how business cycles move quicker in the U.S and deals are much easier to complete, especially in Los Angeles.
Los Angeles is incredibly diverse and features pockets of communities with ethnic origins from all over the world, so many foreign founders can find a little piece of home somewhere in the area.
Founders born outside the U.S have unique perspectives that give them insights on unaddressed opportunities.
M Accelerator, led by a founder born outside the U.S, has similarly gained insights that uniquely position the organization to address the needs of foreign founders. As most of our participants come from abroad we have compiled a list of tips for entrepreneurs looking to make a home of Los Angeles.
Housing when you are in Los Angeles
Housing can be very easy to come by in the city, but due diligence is necessary when scouting locations via websites such as online classifieds sites to avoid scams.
There are many different neighborhoods in Los Angeles and each one of them has a unique identity and culture that is worth noting.
For many entrepreneurs looking to save money on housing, opting to share a room with another person can be very helpful.
M Accelerator, during the on-boarding phase, works closely, especially with those enrolled in our program that need to travel, to ensure they can find the best accommodations within their travel budget.
Transportation
In a city as large as this, transportation is a very important factor to keep in mind. Luckily, there are many options to consider for a wide set of needs.
Public transportation is improving very quickly and the city is always working to revamp the existing infrastructure. There is an intricate system of buses and metro lines that work to service all corners of the city. Getting a TAP Card can be very useful for navigating those options.
Uber and Lyft can help meet your on-demand needs to get you to where you need to be. Both apps feature rideshare options that help reduce the cost.
GIG style electric scooters are everywhere in LA and can be very useful for last-mile or short distance trips.
Recreation: Life is incredibly vibrant in the city of Los Angels, there’s always something happening!
For music lovers, there can be no city better to enjoy live music experiences than Los Angeles. The scene is incredibly diverse and the energy is always great! There are so many channels available to seek out, a variety of cultural flavors, whatever they may be popup organizers such as Brownies & Lemonade or established venues such as the Forum and the Hollywood Bowl.
Those more inclined to relax on the sand along the coast can visit any one of LA’s amazing beaches. Beach lovers are strongly encouraged to see spectacles on the Boardwalk of Venice Beach or take a stroll through the Santa Monica Pier. Another popular option is to throw a bonfire at Dockweiler Beach!
LA’s nightlife is also worthy of note and is a great option for people looking to explore the city. There are many trendy bars and scenes laden throughout the city, all worth checking out at least once.
All in all, Los Angeles is an incredible place that is constantly pushing the envelope on what a city can be and what it can offer. Thanks to the efforts of its wonderful inhabitants, LA is sure to prosper long!
M Accelerator Business Abroad Program
M-ACCELERATOR’s Global Entrepreneur Program offers you a great opportunity to develop your entrepreneurial skillset under the leadership of highly experienced mentors and advisors.
Our mentors include faculty members at top universities in Los Angeles and seasoned consultants and professionals. This institute is a true demonstration of the wonder of globalization with participants coming abroad from countries such as Italy, China, South Africa, Japan, Colombia and Spain forming a unique nexus of opportunity for each other.
Throughout the program’s term, you will gain incredible, transformative experiences, skills and knowledge that will hone your passion for entrepreneurship. At the program core is a regimen designed to instill solid business management skills and to teach innovative design tools.
M Accelerator program is really good for Global Entrepreneurs
Shuta Shibuya – CEO, Fuller, Forbes 30 under 30
Fuller is #1 in Japan and South Korea for data analytics, cross-app, behavioral and trend data analysis.
In addition, you will learn how to effectively communicate your ideas and move them forward. The program is filled with hands-on workshops in each weekly ‘sprint’, covering a variety of topics and majors ranging from business communication (for the English as a Second Language ESL) to digital marketing, resource management, and much more. All while in the company of a cohort of like-minded individuals that will become a valuable part of your personal and professional network.
participants at the Global Entrepreneurship Program at M Accelerator
Participants have been able to leverage their lessons to successfully bootstrap their own companies or find jobs at great companies like Google, Facebook, Novartis, Unilever, and others.
Challenge yourself in one of the premier business ecosystems in the world and find out what kind of growth is in store for you.
References include:
The Boston Consulting Group, in partnership with the Alliance for Southern California Innovation, took a fresh look at Southern California as a magnet for a new generation of tech innovators.
Discover Los Angeles – L.A.’s Top Trailblazing Industries
Inc – The most entrepreneurial group in America wasn’t born in America
Inc – Why Los Angeles could become the next Tech Hub
