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?Subscribe to the Podcast