Working Paper

New York City : Transforming a City into a Tech Innovation Leader

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collection.link.213
https://openknowledge.worldbank.org/handle/10986/11866
collection.name.213
Other papers
dc.contributor.author
Mulas, Victor
dc.contributor.author
Gastelu-Iturri, Mikel
dc.date.accessioned
2016-12-15T19:33:38Z
dc.date.available
2016-12-15T19:33:38Z
dc.date.issued
2016-11
dc.description.abstract
New York city has become one of the largest and most vibrant tech startup ecosystems in the world. Today, the city is widely seen as a leading startup hub worldwide. However, this was not something one can have anticipated just ten years ago. The financial crisis shocked the city, providing the circumstances for the transformation of the New York startup scene. By 2015, New York accounted for nearly a 6 billion dollars venture capital investment in startups and had over 14,500 startups. New York ecosystem provides insights on how startups are impacting city economies, generating new sources of jobs and helping transforming the urban landscape. New York represents a new model of startup ecosystems that is emerging in cities worldwide. Different to silicon valley’s suburban ecosystem, New York’s is urban in nature and well integrated into the local economy and industry base. New York is the prime example of the new urban startup ecosystem model. Although New York remains distinguished in many ways as a city, many of the challenges it faced when developing the tech ecosystem are similar to those confronted by many other cities. These include: (a) lack of technical talents, (b) lack of available seed finance, (c) limited affordable space for entrepreneurs, and (d) a small and decentralized community. The policies to support the ecosystem from the city provide valuable lessons to policymakers with similar goals in their economies.
en
dc.identifier.uri
http://hdl.handle.net/10986/25753
dc.language
English
dc.language.iso
en_US
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
business environment
dc.subject
ICT
dc.subject
tech startup
dc.subject
microenterprises
dc.subject
small and medium-sized enterprises
dc.title
New York City
en
dc.title.subtitle
Transforming a City into a Tech Innovation Leader
en
dc.type
Working Paper
en
okr.date.disclosure
2016-11-30
okr.doctype
Publications & Research
okr.doctype
Publications & Research :: Working Paper
okr.docurl
http://documents.worldbank.org/curated/en/859411480495127181/New-York-city-transforming-a-city-into-a-tech-innovation-leader
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b084758ff7_1_0
okr.identifier.internaldocumentum
26983570
okr.identifier.report
110616
okr.imported
true
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/859411480495127181/pdf/110616-WP-P158681-PUBLIC-ABSTRACT-SENT-NYCTransformingaCityintoaTechInnovationLeaderFINAL.pdf
en
okr.region.country
United States
okr.topic
Private Sector Development :: Legal Regulation and Business Environment
okr.topic
Information and Communication Technologies :: ICT Legal and Regulatory Framework
okr.topic
Information and Communication Technologies :: Information Technology
okr.unit
GSURR Global Programs (GSUGL)

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