United States

New York City #2

Integration Phase
MEMBERS:
New York City Economic Development Corporation Tech:NYC

Times of crisis reveal the resilience of our innovators, and in New York’s case our startups have continued to adapt while finding ways to serve the public. Even with COVID’s economic effects, there’s optimism in the NYC startup culture, ensured by our entrepreneurs’ ambition and underwritten by our investors’ confidence.

Julie Samuels
Executive Director, Tech:NYC

Sub-sector Strengths

AI, Big Data & Analytics

New York City boasts the highest number of AI and machine learning positions in a single metro area. Recent 5-year growth in AI and Big Data VC funding is higher in New York City than the Bay Area and Boston. CTRL labs, a startup that specializes in allowing humans to control computers using their brains, was recently acquired by Facebook for between $500 million and $1 billion in 2019.

Cybersecurity

Cybersecurity is a billion-dollar industry in New York City, with 100+ companies and 6,000+ employees as of 2017. Cyber NYC is a public-private initiative that includes startup accelerators, bootcamps, and the Global Cyber Center – a dynamic home for ecosystem building that also connects New York’s largest economic players to state-of-the-art cybersecurity solutions. Dashlane, a password manager, raised $110 million in 2019.

Life Sciences

New York City has nine academic medical centers, 50+ hospitals, and 100+ research foundations. New York institutions receive circa $2 billion in NIH R&D grant funding and have now helped startups raise over $1 billion in venture capital. The City is home to Life Sciences companies like Kallyope, which received a $112 million Series C in 2020 and Schrondinger’s successful IPO earlier in 2020 with a valuation of $819 million.

Why you should invest in New York City

TOTAL EARLY STAGE FUNDING
$8.3 bn
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
$147 bn
GLOBAL AVG.
$10.5 bn
#2 Global Ecosystem
Funding
#3 Global Ecosystem
Talent
8
Exit Growth
INDEX
10
Investor Activity
INDEX
6
Funding Growth
INDEX

Reasons to move your startup to New York City

MEDIAN SEED ROUND
$850 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$6 m
GLOBAL AVG.
$2.7 m
SOFTWARE ENGINEER SALARY
$98 k
GLOBAL AVG.
$42.1 k

World’s Second Largest Tech Ecosystem

With 9,000+ startups, 22 unicorns and 100+ accelerators, incubators, bootcamps, and co-working spaces.

Most Diverse and Cosmopolitan City

8.5 million residents, 73 Fortune 500 companies, 2.3 million people with bachelor’s degrees (including 1+ million degree holders in science & engineering-related fields), plus 410,000 women-owned businesses. Nearly 50% of NYC’s tech workers are foreign-born.

COVID-19 Policy

In response to the crisis, the City invested in and partnered with startups and local manufacturers to develop face shields, gowns, a bridge ventilator, and test kits, saving countless lives. The City launched a temporary small business grant and interest free loan program, and a competition that awards up to $100,000 to tech companies and community groups to solve COVID-19-related challenges in the City’s commercial districts.

Startup Community

Startup Genome
Members

Startup Genome
Partners

Starta Venture Accelerator
Blue Ridge Labs
Brooklyn Chamber of Commerce
Bunker Labs
Cela
Civic Hall
Coindesk/Consensus
Company (previously Grand Central Tech)
Entrepreneurs Roundtable Accelerator
Flatiron Partnership
Gary's Guide
Innovative Collective
Mayor's Office of International Affairs - NYC
MeetUp
New Lab
New York Angels
NY Fashion Tech Lab
NY Tech Alliance
NYC Blend
SAP
TechStars
Urban-X
VentureOut

Featured Articles from
Local Ambassadors

Peter Crysdale
Peter Crysdale is a serial founder, seed investor, and mentor in the startup community. Currently interested in decentralization, turnarounds and diversity.
Peter Crysdale | Startup Grind East Coast Regional, Director Co-Founder Recorp,
Would you like to be an ambassador in New York City?
Contact Us

Get connected

Are you interested in diving deeper into this ecosystem? Drop us a message. Our Ambassadors and Partners can plug you in.