Thursday May 23, 2019

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NY Reaches Key Milestones in Quest to Become Tech Capital

NEW YORK, NY - MAY 21:  New York City Mayor Mi...

NEW YORK, NY – MAY 21: New York City Mayor Michael Bloomberg (R) and Google co-founder and CEO Larry Page pose for a photograph after a news conference at the Google offices on May 21, 2012 in New York City.  (Image credit: Getty Images via @daylife)

In its quest to become a tech startup capital to rival the likes of Silicon Valley, NY has been making progress. According to the Associated Press, there have been numerous signs that NY is moving in the right direction -including examples such as:

  • Google and Facebook increasing their presence in NY in recent years
  • The ongoing development of the CornellNYCTech applied science campus on Roosevelt Island
  • Columbia University and NYU getting $15 million apiece in incentives from the city to create new technology programs

According to the AP, Google’s Executive Chairman Eric Schmidt said, after a closed-door discussion Mayor Michael Bloomberg convened with tech-sector leaders this month, that “Over the last few years, what we’ve seen over and over again is a commitment to make New York City a viable alternative to Silicon Valley and a place where true innovation occurs.”

Although NY is making significant strides towards becoming a tech startup capital, there are still many obstacles in its way.  Entrepreneurs say NY faces particular challenges, including poor broadband access in some areas and also a lack of tech talent.

Huffington Post