New York Innovation Ecosystem Policies

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The document discusses New York City's efforts to create a vibrant tech innovation ecosystem by addressing weaknesses in talent, capital, and space through policies to improve education, provide seed funding, and establish collaboration spaces. It notes that while New York's investment levels and number of large exits have grown, many founders lack technical backgrounds and many jobs in the sector remain below the masters level.

Tech Innovation Ecosystems
ICT Unit World Bank
The Case of New York:
How To Create a Vibrant and Sustainable Ecosystem?

What New York Lacked?
Talent
Capital
Space
Community

Policies to Adress Each Weakness
Education
Seed Funding
Collaboration Spaces
Challenges & Promotion

0.7 – 2.5
Investment
VC (US$ B)
10 - 27
Exits >US$500M
22%
Founders
not tech
44%
Jobs below Masters

Contacts:
Victor Mulas
ICT Innovation Specialist
vmulas@worldbank.org
Hallie Applebaum
Open Innovation Specialist
happlebaum@worldbank.org
ICT Unit World Bank

Sources:
•Center for an Urban Future. 2012. “New Tech City.” https://nycfuture.org/pdf/New_Tech_City.pdf
•HR & A. 2014. “The New York City Tech Ecosystem.” http://www.nyctecheconomy.com/
•Florida, R. 2014. “Start Up City: The Urban Shift in Venture Capital and High Technology.” http://martinprosperity.org/media/Startup%20City_14-03- 14.pdf
•Interviews with Dmytro Pokhylko, Director, Vice President, New York City Economic Development Corporation (October 2014), and Rachel Haot, former Chief Digital Officer, New York City (September 2014).

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New York Innovation Ecosystem Policies

1. Tech Innovation Ecosystems ICT Unit World Bank The Case of New York: How To Create a Vibrant and Sustainable Ecosystem?

3. What New York Lacked? Talent Capital Space Community

4. Policies to Adress Each Weakness Education Seed Funding Collaboration Spaces Challenges & Promotion

5. Title of Presentation 5

6. 0.7 – 2.5 Investment VC (US$ B) 10 - 27 Exits >US$500M 22% Founders not tech 44% Jobs below Masters

7. Contacts: Victor Mulas ICT Innovation Specialist vmulas@worldbank.org Hallie Applebaum Open Innovation Specialist happlebaum@worldbank.org ICT Unit World Bank

8. Sources: •Center for an Urban Future. 2012. “New Tech City.” https://nycfuture.org/pdf/New_Tech_City.pdf •HR & A. 2014. “The New York City Tech Ecosystem.” http://www.nyctecheconomy.com/ •Florida, R. 2014. “Start Up City: The Urban Shift in Venture Capital and High Technology.” http://martinprosperity.org/media/Startup%20City_14-03- 14.pdf •Interviews with Dmytro Pokhylko, Director, Vice President, New York City Economic Development Corporation (October 2014), and Rachel Haot, former Chief Digital Officer, New York City (September 2014).

New York Innovation Ecosystem Policies

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