When Will New York Eclipse Silicon Valley? : Under30CEO When Will New York Eclipse Silicon Valley? : Under30CEO
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When Will New York Eclipse Silicon Valley?

| May 9, 2012 | 3 Comments

Roughly 30 years according to a recent Forbes article.

Once upon a time concerns over lack of access to tech talent and startup funding might have kept entrepreneurs at bay, today a New York office is becoming de rigeur for West Coast players and Facebook and tech venture powerhouse Accel Partners have made the leap east.

Today, business incubators are helping develop the startup scene and a robust number of technology-fueled firms are choosing New York City as their starting block and that trend will no doubt continue.

The Big Appleundefined saw 81 of its tech companies receive venture funding in the first quarter and seed funding in the city is at an all time high.

New York advantages:

  • Less tech firms means more exposure for ones that start
  • Increase in tech talent
  • The city itself. No city has the culture or the intense drive

This trend started with the collapse of the financial system according to Brad Hargreaves, founding partner of startup co-working space General Assembly. While New York may not be the perfect paradise for tech startups yet, it is well on its way.

What do you think? Will New York ever eclipse Silicon Valley? How long will it take?

About the Author: Jared O'Toole

Co-founder and editor of Under30Media. You can send an email to Jared(at)Under30CEO.com. Follow him on Google+ or @JaredOToole

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Category: Startup Advice

  • http://twitter.com/pricematthew Matthew Price

    The advantages here look like you thought of them as you wrote the article… but  I think the real driving force is the venture capitalists in NYC that have been setting up really good start-ups in the heart of the city. This will inspire other great start-ups to follow more than the city being a popular city or a general increase in tech talent (which is everywhere, not just NYC)… 

  • http://Under30CEO.com Jared O’Toole

    Thanks Matt…The advantages were the ones stated in the Forbes article. I do agree that startups follow the venture money. But, VC’s won’t come to NY without the right infrastructure in place.

    We talk about it a lot here on U30NY where NYC tech talent is growing faster than anywhere else because millions is pouring into projects to develop tech talent right in New York. The city also used to funnel most of its tech talent into the big banks and media companies which is a trend that has slowed because of the economic collapse.

    So I think things like the financial collapse really opened the doors to industries in NY because people are looking for opportunities beyond just big banks & media companies.

  • http://twitter.com/pricematthew Matthew Price

    Honestly I didn’t glance at the Forbes article, my bad. Didn’t mean to come off rude, more joking… haha. You make some really great points here. I think we are both getting to the same point, of the importance of having a foundation that will fund or spur new business ideas on a regular basis.

    So many promising start-ups in the center of NYC right on Broadway. Last time I visited I couldn’t believe how quality some of the setups were… Plus in NYC you get the extras the city has to offer with all the cultures and history. I think it will just take time for more and more people to realize its tech-friendly… sooner or later right?