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New York City ranked first in a survey of 40 global cities, in the way it utilizes technology to foster an innovative economy.
In its first ever study of economic innovation, City Initiatives for Technology, Innovation and Entrepreneurship (CITIE) named New York City #1 in the world for a public policy ecosystem that is supportive of startups. Placing ahead of London, Helsinki, Barcelona, and Amsterdam, New York City’s long-term investment in tech appears to have paid off.
The 56-page study, sponsored by British charity Nesta, management consultancy firm Accenture, and...Read More
By Christian Johnson, Economic and Research Analysis Research Fellow
NYC is home to the largest immigrant population of any city in the U.S.
While foreign-born immigrants comprised 13.1% of the entire U.S. population and 16.5% of the U.S. labor force in 2013, foreign-born immigrants accounted for 37% of all NYC residents and 46% of the NYC labor force.
Foreign-born workers are not only able to find work in NYC, but have also found opportunities to grow businesses of their own; a disproportionate share of incorporated businesses in NYC, 47.6%, are owned and operated...Read More
By Devin Gould, Budget Analyst, Guest Blogger, and NYCEDC Social Media Advisory Council Member
Improv, urban planning, and quantitative analysis are not usually used in the same sentence.
But for I Quant NY’s Ben Wellington it is the perfect cocktail to help planners make NYC a better place to live.
On June 3rd, Ben Wellington—a visiting assistant professor at the Pratt Institute and the vision behind the NYC open data blog, I Quant NY—came to NYCEDC's offices...Read More
It’s been more than 350 years since New York City was called New Amsterdam— or "Breuckelen," the "Bronck’s," and "Staaten Eylandt" —but even today, there’s a long-standing relationship between our city and the Dutch government.
Earlier this week, Deputy Mayor for Housing and Economic Development Alicia Glen met with Deputy Mayor Kajsa Ollongren, her counterpart from Amsterdam, to discuss opportunities for collaboration between the two cities.
By Alysa Hannon, Senior Project Manager, Social Capital Desk at the Center for Economic Transformation
On Wednesday night, NYCEDC's Social Capital Desk joined over 100 attendees at Investing in Change, an event organized by the Partnership Fund for New York City, DarcMatter, and the Centre for Social Innovation to showcase businesses that are growing our economy while also solving our City’s problems.
NYCEDC co-sponsored the event in a joint effort to highlight NYC’s vibrant and growing social enterprise sector...Read More
In the first two years of the SBIR Impact NYC program, over $5 million in federal funds have been awarded to program participants, representing a 25-fold return on investment.
SBIR Impact is a NYCEDC program designed to help NYC-based bio and health tech companies be more competitive in recruiting early-stage funding, SBIR funding is crucial as it addresses what the industry calls the “Valley of Death”—that crucial gap for any company after institutional research grants run out and before investors step in.Read More
Thousands of homes and businesses were ravaged by floodwaters during Hurricane Sandy.
The team behind OptiRTC saw an opportunity to combine three different technologies—cloud-based sensors, physical floodproofing, and alert systems—to help protect buildings in New York City from future floods.Read More
This post is part of NYCEDC’s Thinking Ahead series, which features editorials from New York City leaders and influencers across key sectors and neighborhoods to foster dialogue around the issues impacting our city.
Women are vital to New York City's economy.
Yet while they make up more than half of our workforce, they are underrepresented in the field of computer science.
Enter Girls Who Code, a national non-profit whose goal is to provide...Read More
Nacxitl Gaxiola is a serial chef and culinary researcher.
Lucky for us, he’s also a serial entrepreneur, bringing his culinary sensations to restaurants around New York City. His latest venture is Xilli, a company that makes and sells handmade salsas, moles, and pickles with Mexican flavors. “Xilli” is the original word for chili in Nahuatl, the pre-Columbian language of Mexico.
Xilli’s products are centuries-old staples of Mexican cuisine, but tweaked using modern cooking techniques from...Read More
Someone had a birthday party on Saturday...
Essex Street Market celebrated its 75th Anniversary, serving the Lower East Side community this past weekend with all the delicious food and fanfare deserving of a legendary culinary destination.
Throughout the month of May, Essex Street Market and its vendors, in conjunction with NYCEDC and the Lower East Side Business Improvement Dstrict (LESBID), celebrated the incredible vendors through a series of art exhibits and storytelling projects, a community brunch series, and other public events.