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Thursday December 18, 2014

Investment and Innovation Key for #NYTech Sector Growth

Fred Wilson

Fred Wilson (Photo credit: Wikipedia)

Panelists at Crain’s Future of New York City conference said the tech sector’s success depends on investment in talent and innovation. Kevin Ryan, CEO of Gilt Groupe, and Fred Wilson of Union Square Ventures both said NY’s lack of tech-focused universities have stymied growth. Wilson said Mayor Bloomberg has made major strides on the education front, particularly with the Cornell NYC Tech campus. “Right now, I think the mayor and his administration are doing lots of good things,” Wilson said. “They’ve listened to the tech industry, and understand the talent problem and the cost problem.” Charles Phillips, CEO of software company Infor, said that if the city’s building codes were modified, it could insure affordable housing for young professionals who can’t afford Manhattan rents. He called for new regulations that would allow for smaller and cheaper apartments of 300 to 400 square feet.

Crain’s New York Business