New York CITY
CULTIVATING CURIOSITY & DRIVING INNOVATION
The city that never sleeps. NYC's unique blend of energy, international dynamism, influence and street culture makes it one of the most inspiring cities in the world. Fast is the hallmark of the Big Apple.
Capital of the world. If NYC was a country, its economy would be the tenth-largest in the world, beating out the entire economies of countries like Canada & Russia. it's the most photographed city in the world.
The Empire State of MinD. A city of stark contrasts and deep contradictions, NYC doesn't follow social 'norms' and is perhaps the most representative of a diverse and powerful nation.
New York City is showing its strength and resilience as it continues to be the location of choice for businesses in nearly every industry.
The city is headquarters to dozens of Fortune 500 companies and a global center for financial services, life sciences, entertainment, tech, media, fashion, the arts and industry.
And The Big Apple never stops growing, attracting innovators and entrepreneurs choosing to innovate here and to take the city—and region—into the future.
NYC. a global hub of commerce
small to medium businesses
Challenge the status quo & drive mindset change by immersing yourself in one of the world's most thriving & interconnected ecosystems.
Fortune 500 companies
A city population of 8+ million = US's largest consumer base
A more convenient time difference with Europe (5h) compared to California (8h)
3 international airports = 400 destinations worldwide
the 3rd-largest maritime port in the US
several prestigious universities = high concentration of talent / NY Talent pool
and a large number of venture capital funds
VC investment second to the Bay Area to attract venture capital, the lifeblood of the start-up economy / second-largest startup ecosystem with over $3.1 billions in VC investment in 2013 (endeavor insight 2014)
Policy implications? NYC administration made smart policy moves > policies applied to support and foster the growth of the ecosystem > effective policies from NYC governments to support growth and sustainability of NY tech ecosystem
It's also easier to find housing, office spaces & immigration visas than in the Silicon Valley
How City governments can build effective policies to support the growth and sustainability of your burn technology ecosystems.
Support services : include lawyers, government officials, public relations firms, advertising firms, etc.;
Comparative advantages: unique characteristics of the city. / condition to a favorable/superior condition
Technology is the business driver of the future, and New York is the city that is fully embracing this opportunity.
NY force (factors) =proximity + density + variety of people an firms
NYC is unique and can't always be compared to other global cities. The one thing that sets it apart, though, are the connections and the communities that form its ecosystem. They are key drivers of its growth and sustainability success.
NY. Hub of technological innovation.
NYC. Blooming innovation startup scene/ growing start-up scene
NYC Startup Ecosystem
NYC. The Tech Town
NYC tech Boom
PROGRESS THAT NEVER SLEEPS. Military port, manufacturing hub, financial epicenter and now #1 tech city in the world, NYC continues to transform and reinvent itself!
This ability to change, adapt and innovate has bolstered its tech ecosystem's resilience through the pandemic. Spectacular IPOs, record-breaking fundraisings, hiring deals: NYC's Startup Culture is stronger than ever.
What it Takes
NYC's tech sector gets its strength and dynamism from these key assets:
Talent: The city's tech workforce is growing at an unprecedented rate. Accounting for over 320,000 jobs, it is one of the largest metropolitan tech workforces in the US.
Academia: NYC’s 120 universities, graduating 4,500 computer science majors each year, drive the city's reputation for cutting-edge research and redefine what emerging technology can be.
Diversity: Home to 3.2 million immigrants from over 150 countries, NYC has an immense and diverse workforce, bringing broader perspectives and skills to the industry. Today, almost 50 percent of people working in tech in NYC are foreign-born, and over 40 percent are people of color.
Access to Capital: NYC has a robust community of 200+ angel and VC investors to infuse new venture launches with funding. In 2017, this amounted to over $12 billion, and an average of nearly $570,000 in early-stage invested capital per startup.
Anchor Industries: Home to more Fortune 500 companies than any other city in the world, NYC has long been a global leader in traditional “anchor” industries, including financial services, media, and fashion retail and manufacturing. These sectors play an invaluable role in fueling the adoption of new innovations in the emerging tech industry.
NYC talent pool is the main reason why big companies like Amazon or Google chose NY to expand
Talent: people with the right skills and passion.
The NYC Difference > People > Diversity > Talent
" Striving for opportunities, challenges, diversity and innovation, about 1/3 of the Big Apple's residents come from somewhere else.
“Ellis – Immigrantes”
New York, USA: new mural by Brazilian artist Eduardo Kobray.
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New York, USA: But what is the New York State of Mind, and what does it mean to have an Empire State of Mind? What is it about this city that transforms the mind, body, and soul so deeply?
More money and bubbly behaviour
Tech is just one small part of what the NYC startup scene has to offer. In adding to tech startups, there are also many success stories in finance, art, healthcare, media and advertising.
Today, New York is a world leader in media, advertising, communications, marketing and financial services. A collaborative city with a high creative density, the Big Apple also excels in the fields of art, design and architecture.
New York City By The Numbers
center for tech employment (NYC/MSA area)
in nation for general VC investment (NYVCA)
world financial center (Global Financial Centres Index)
New York City aka the SILICON ALLEY tied with London globally and recorded its best scores in the categories of "performance," "funding," "connectedness," and "talent."
NYC ranks #2 as having the best tech ecosystem in the world.
WOMEN OWNED BUSINESS
NEW YORK STANDS OUT THROUGH SOMETHING UNIQUE:
The presence of large, veteran companies is not an obstacle in startup development. On the contrary, they offer an opportunity for small businesses: where there are large companies, there are also layoffs, so startups have access to a large talent pool. The proximity to Wall Street is also a unique advantage.
There are more banks, private equity firms and hedge funds in New York than there are in Silicon Valley, giving entrepreneurs access to various funding options.
New York is a dynamic city that attracts forward-thinking talent and early adopters – these are the perfect conditions for an ambitious start-up.
NYC stands out as one of the most diverse business scenes in the world: 19% of founders are women, compared to the 16% global average, and 25% are immigrant founders, compared to the 19% global average.
56 of the 105 unicorn companies in the United States are based in New York. One of the most notable examples is WeWork, valued at $20 billion and ranking #3 on the list. https://www.failory.com/startups/new-york-unicorns