NYC goes for ‘technical’ knockout

NYC goes for ‘technical’ knockout

Original post by DAVID SEIFMAN via New York Post 

New York City is going to experience “phenomenal growth” in the tech sector in coming decades as venture capital flows to the Big Apple faster than to California’s Silicon Valley.

It sounds very much like something Mayor Bloomberg might say, but the words actually came yesterday from a senior Google executive who participated in a technology forum sponsored by Bloomberg Philanthropies.

“I think it’s good for Silicon Valley to have a competitor,” Google Executive Chairman Eric Schmidt quipped, standing next to the mayor.

Moments earlier, Hizzoner had boasted that the New York metropolitan area was the only one to experience a growth in venture capital flowing to tech companies between 2007 and 2011.

 A study by the Center for an Urban Future found the number of venture deals here soared by a third during that period, while falling 10 percent in Silicon Valley.


Leave a comment