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Presented on Sept. 22nd Collegiate Entrepreneurs Organization at UTPA. A presentation for young entrepreneurs to inform and inspire to connect and create their local community. Living and succeeding in the RGV has been a lonesome and dangerous venture. The road ahead continuous to be tumultuous but there are positive economic indicators and positive enrichment from private and public sectors.
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Bet the Farm on the RGV Tech Community
Olmo MaldonadoV.P. CTO GMG Agency, LLC
Who?
Born in MexicoRaised in McAllenI.B. Lamar Academy Alpha ClassUTSA B.S. Electrical EngineerUCLA M.S. Electrical Engineer
Who?
Ex-Googler, Frontend Software Engineer Picasa Web Albums (now Google Photos)
MooTools DeveloperC.T.O. / V.P. of GMG Agency, LLC
www.gmgagency.com
Who?
Tech Tuesdays & Code#RGV FounderRGV Tech Startup Community Activist(Social) EntrepreneurHomebrewer
www.codergv.com
Survey
How many of you are ...MarketingSalesAdministrationUndecidedEntrepreneurs
What is an Entrepreneur?
My answer: a brutally honest,stubborn,inquisitive,oppotunity seeker,workaholic, and
aims to make millions or more in many ventures.
Survey
How many of you are dying to leave the valley?
Survey
Of those that want to leave; do you want to leave because ...
There are no jobsThe culture sucksThere's no money (VCs, Grants)
Any other reasons?
Some unfortunate factsAbout the RGV
Valley earning consists of
60.6% Public, Health, Retail, Construction
SOURCE: Bureau of Economic Analysis
~13.3% Prof. Services~10.1% “Other”
Growth?Brownsville
McAllen
Poorest in the Nation
#3 Starr County#12 Willacy County
#22 Hidalgo#60 Cameron
Education
Only 58.3% of Hidalgo County residents 25 years and over are high school graduates or higher
And only 15.1% of Hidalgo County residents 25 years and older have a bachelor’s degree or higher
Source: U.S. Census Bureau, 2008 American Community Survey.
Bachelor Degrees
Ranked 98th out of 100 based on the proportion of residents with a bachelor’s
degree.
What happened to us?
Focused (dependency) on retailBrain drain
Age Demographics
AgeRGV
2000 (%)RGV
2010 (%)San
Antonio (%)
0-19 38.2 37.3 28.1
20-34 22.2 20.2 24.98
35-54 23.5 23.9 26.27
55-64 6.6 8.7 9.92
65+ 9.5 9.9 10.73
Source: U.S. Census Bureau
Any good news?About the RGV
We’re still growing … in 2010
CityPopulation
Increase (%)Relative
Hidalgo 67.3 +43.0
Mission 51.9 +20.2
Edinburg 49.9 +25.1
Pharr 41.9 +17.6
McAllen 24.3 0.0
Source: U.S. Census Bureau 2010
Expected Population of Hidalgo County in 2020
Source: Texas State Data Center, Population Projections, 0.5 Scenario.
1 million or more
Current GDP of Hidalgo County
Source: U.S. Department of Commerce, Bureau of Economic Analysis.
$13.8 Billion
High School Dropout is Now Only
Hidalgo County Comprehensive Economic Development Strategy 2011-2015
11.8% in 2009
Low Cost of Living
U.S. Census Bureau’s 2011 American Community Survey
Harlingen #1McAllen #3
Let’s Compare Cost of Living
City 1 Bedroom Apt.
McAllen $708.33
San Antonio $862.50
Austin $1,332.81
Palo Alto $2,500.00
San Francisco $2,720.06
Source: Numbeo.com
McA
llen
San F
ranc
isco
Almost 4x lower cost of living
Higher Education Enrollment
Hidalgo County Comprehensive Economic Development Strategy 2011-2015
UTPA +44%STC +146%
UTPA Engineering Graduations
Hidalgo County Comprehensive Economic Development Strategy 2011-2015
Doubled2004 and 2008
Bottomline:A watershed in RGV’s history.
Trends
Focus on education, and reducing brain drain.
More community and cultural diversity.
See: Palm Fest, Jardin del Arte, Indian Festival
Trends
Cities investing in entrepreneurs. See: Ruby Red Ventures, McAllen I&E, more soon™
Private investors and firms looking within the RGV for diversifying their portfolios.
Trends
Older generation focusing on passing down the torch. See: Leadership McAllen
Review your city’s advisory boards. Most have vacancies.
Opportunities
Educational technology and training of teachers
Create your own interest groups/festivals and communities.
Opportunities
Be part of think tanks or participate in Business Plan competitions.
Get involved in (tech) startups and take risks with other people’s money.
Opportunities
Medical software, e-medicine, e-commerce
Find disrupted industries, and help them cope with changes or evolve.
What will you commit?What’s stopping you?
My personal commitment
In 2013, I made a 25 year commitment that renews every 25 years.
To create, cultivate, and empower our local tech community.
Every last TuesdaySCNE 2.102
Starts 6:30 PM until 8:00 PM
Tech Tuesdays, Code#RGV, and ...
www.codergv.com
Every 1st and 3rd ThursdayMcAllen Incubator7:00 PM until bust
What have I learned?
1. There’s a lot of Tech in the RGV
2. You’re not alone
3. The RGV is your oyster.
