If you want to go fast, go alone. If you want to go far, go together.
That’s an African proverb often used to exhort people to work as a team. It is also a big part of the Sunstone Way.
Partnerships — specifically public, private, and educational partnerships – are a cornerstone of the Sunstone philosophy. Put another way, we believe in creating community around our endeavors as we push to enrich lives.
Creation of the Long Beach Accelerator in 2019 is a good example of partnering for the good of all. LBA was born when leaders of the Institute for Innovation and Entrepreneurship at Cal State Long Beach came together with those at the City of Long Beach Economic Development Department and Sunstone Management. With each partner playing a vital role, the LBA launched to help early-stage startup founders gain access to resources like mentoring and business expertise.
To date, five cohorts of startups have completed the four-month program. At Demo Day for Cohort 5, managing director Andrea White-Kjoss said there already have been eight acquisition offers received by companies that have gone through the accelerator.
Sunstone and the Long Beach Accelerator will continue this valuable partnership for some time to come – we’ve signed a 5-year memorandum of understanding to keep working together.
The Next Generation
Earlier this year, Long Beach Mayor Rex Richardson used his State of the City speech to include startup businesses as part of his economic plan for the city. Mayor Richardson asked the community to respond to his call to action and we stepped up to answer his call. Part of the mayor’s Grow Long Beach campaign, Launch Beach is designed to support 100 diverse startup companies in the next five years.
To make that happen, Sunstone Management and the Sunstone Community Fund have joined with six other community organizations including the Long Beach Accelerator, the Long Beach Economic Partnership, the Long Beach Center for Economic Inclusion, the City of Long Beach Economic Development Department, CSULB Institute for Innovation & Entrepreneurship, and Imprint Venture Lab. The eight entities bring different strengths and connections to the table.
The sum is greater than the parts. That’s the Sunstone Way.
There will be announcements of several more partnerships in the next few months – exciting friends coming alongside Sunstone to move into the future on new paths of progress.
We’re moving forward together. We plan to go far.
Imagine the future. Come partner with us.
More About Sunstone Management
Sunstone Management is a diversified private capital sponsor firm located in Southern California that invests in diverse early-stage technology entrepreneurs who seek to build great companies. We believe in the aspirational power of the American economy to attract and inspire investors and entrepreneurs from throughout the world. We deliver new and exciting opportunities for economic growth through the creation of innovative public-private partnerships, and our unique experience across government, education, and private sectors. Identified by Financial Times as one of America’s Fastest Growing Companies three years in a row.