original post by Michael Nunez via IBTimes

The technology sector in New York City flourished in 2011. Not only did funding dollars pour into young companies, but business leaders partnered with young companies more than ever. “There was a real sense of respect and cooperation,” Brian Cohen, chairman of the New York Angels, a group of investors, told International Business Times in an interview about the state of Silicon Alley, the nickname for New York’s group of fledgling tech companies.

Where does that collaboration  leave New York City technology heading into 2012?

Companies to watch in 2012:

Fab.com, the design sales site, raised $40 million in Series B funding in December. The money came only six months after the site switched to selling design merchandise. The site had previously been hosting a social network for the gay community. The business model shift has paid off, and with the extra money, expect Fab to continue growing user numbers and brand recognition.

Zipmark, an online and mobile payments platform, also received funding late in the year. In mid-December, the company received $2 million of seed funding. Zipmark is described as a “digital checkbook,” allowing people to send money over the Internet. Though the model has been created before in platforms like Paypal, investors apparently think there’s room for another company to wedge itself into the business sector. Watch Zipmark for more partnerships and new innovations in mobile.

READ MORE