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Wednesday July 23, 2014

NY Ranks Fifth in #StartupEcosystems

API Demos at hackNY's Spring 2012 Hackathon

hackNY’s Hackathon (Photo credit: hackNY)

According to a report by Startup Genome, NY ranks fifth in the world’s top startup ecosystems, lagging behind Silicon Alley, Tel Aviv, Los Angeles and Seattle. Lasse Herrman, Startup Genome’s founder and CEO, said they ranked startup ecosystems less in terms of the number of companies and more from the standpoint of being able to identify specific advantages and disadvantages.

Herrman told GigaOm that while NY has more startup activity than most other cities, its startup output (or total entrepreneurship activity) slipped once population was factored in. NY also has fewer investors who fund at the earliest stages, and in fact the city’s “funding index” is lower than Silicon Alley, Tel Aviv or Boston. But NY beats other cities on a key metric: the percentage of female startup founders.

GigaOm