*NEWS: OCTANe Plans to Move Accelerator to Great Park in Irvine; Joins Forces with FivePoint
OCTANe, a life sciences and tech accelerator in Aliso Viejo, is one of the prime drivers to make OC an epicenter of innovation, while also aligning OC with the greater SoCal region.
Now, it’s joining forces with FivePoint Holding to achieve this goal, with plans to move its LaunchPad accelerator to the Great Park in Irvine, OCTANe CEO Bill Carpou told OC Startups Now Tuesday. Carpou is currently in San Francisco, where he’s attending the 37th annual J.P. Morgan Healthcare Conference. (See related story about OCTANe at this conference here).
Carpou said OCTANe will also likely move some of its investment banking and venture relations to the Great Park, while keeping its HQ in Aliso Viejo.
Five Point, also with HQ in Aliso Viejo, designs and develops mixed–use, master–planned communities. It’s developing a “Gateway Campus” in the Great Park, the former home of the El Toro Marine Corps Air Station.
By moving the accelerator to the Great Park, a hotbed of development since the recession ended, the two entities hope to make an impact on the entire SoCal region.
As OC is geographically between the startup ecosystems of San Diego (Biotech Beach) and the westside of LA (Silicon Beach), it’s an attempt to position OC in the sweet spot of innovation in SoCal.
In 2017, FivePoint Communities announced it was buying back Broadcom’s new office complex in a deal that could add 1,000 homes to the total being built on land surrounding the Great Park, according to news reports.
FivePoint recently moved its Aliso Viejo operations to this Broadcom site, south of the Great Park at Alton and Barranca parkways. Lennar, another developer of master-planned communities, intends to do the same.
The alliance has been in the works for about six months, Carpou said. OCTANe and FivePoint plan on releasing more details about this joint venture next week.
So, stay tuned!