New York City Color (Photo credit: Randy Le’Moine Photography)
Though the technology scene in NY is 0n the rise, Fortune Magazine points out three factors holding it back. The first is money. Though there are a growing number of angel and early stage investors in NY, later stage investments funds are still hard to find. Another factor holding back the NY tech scene is people. There is still a lack of tech talent in the city, though the numbers are beginning to climb. Finally, NY falls short on massive tech success stories. Though some big purchases have taken place, such as Buddy Media’s acquisition by SalesForce, not a single NY tech IPO has taken place in 2012.
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