Follow the Money

This is a big one—TechCrunch reports that Intel is buying deep learning startup Nervana Systems for $350 million. Intel will use the acquisition to give them a leg up in Artificial Intelligence solutions. The San Diego-based company is two years old with 48 employees and had raised almost $25 million prior to the sale.

LinkedIn for Restaurants

GeekWire tells the story of San Diego-based Industry, a job search platform for restaurants. They are set to launch in Seattle after partnering with the Washington Restaurant Association to get their 6,000 members using the app. The company is hoping to make it easier for qualified applicants to connect with the employers who need them.

So You Think You Can Drink?

Forbes has the latest on the Samuel Adams and Entrepreneur’s 3rd Annual Brewing the American Dream Pitch Room. If you have the next startup that will change the food, beverage, or craft brewing industry, you can submit a pitch video. Regional finalists will be selected from Boston, Denver, Washington, and, of course, San Diego. This Friday is the deadline—so drink up!

New Fund on the Block

San Diego-based FusionX Ventures has launched an investment fund focused on early stage IoT startups. A partnership with D&K Engineering, the fund is looking for companies “with products using hardware, software and cloud (IoT).”

Feel Good Story of the Week

A local teenager is using a 3D printer to help injured animals. Nikita Krishnan is a high school junior who learned how to use the printer and now operates a non-profit that makes comfortable splints for dogs—and she is expanding to other animals and different solutions.

Pivots and Opportunities

• The deadline to apply to be part of Canopy San Diego’s Fall 2016 Cohort is August 30. Canopy is a seed-stage accelerator for technologies serving the legal cannabis market in Southern California.
• Downtown incubator Evonexus is taking applications for its November class. They are due by August 31.

Be There or Be…

• Change Makers: Stephen Mayfield
  August 24, 5 p.m., Downtown Partnership, 401 B Street, Suite 100
  The first event from the Collaboratory for Downtown Innovation features Stephen Mayfield of UCSD, who has developed engineered algae for mass production to be used for food, fuel, therapeutics and other biomaterials.
• Startup Grind hosts Felena Hanson, founder of Hera Hub
  September 8, 6 p.m., ROC at the Vine
• San Diego Venture Summit
  September 8, 7:30 a.m. – 12 p.m., Hilton Bayfront
  Hosted by the San Diego Venture Group, the Summit attracts numerous VCs to San Diego.

Tags: Blogs, Downtown Buzz