It is no secret that New York is quickly becoming a new tech startup hub. From 2007 to 2011, nearly 500 startups in NY received investment. Plus, more than a dozen established tech startups like Google, Facebook, Twitter and LinkedIn have moved to the city from tech hubs like Silicon Valley and Boston. According to The Huffington Post, a successful startup today is based less on coding hardware and more on creating apps that deliver content and services over the Web. NY is the epicenter of fashion, finance and media and has therefore become a destination for startups that want to be near those booming industries.
Currently NY is still lacking the engineers needed to expand the numerous small companies within the city. However, several efforts are underway to fill the talent gap. Earlier this year, NYC gave $100 million CornellNYC Tech which is expected to open in 2017 on Roosevelt Island, with classes starting in a leased space this fall. The city has also offered $15 million in support to NYU’s new tech campus in downtown Brooklyn, which will open in 2013.