New York can seem a very far-away example to many cities — after all, it is one on the largest cities of the world, has a high per-capita GDP and is very well-connected internationally, making it easier to attract talent. However, when New York began developing a tech startup ecosystem, it faced similar problems to any other city: there was not enough critical mass or community to form the ecosystem, talent was not adequate and, believe it or not, there was no financing (seed capital) for investment in tech entrepreneurs. The policies the city subsequently applied, which focused on creating bottom-up organic communities to sustain and grow the ecosystem, have succeeded.
Today, New York hosts one of the largest and most vibrant tech startup ecosystems in the world. In this blog post, we summarize the case of New York and the lessons we have been finding, which is part of a paper I am working on. In our research for urban innovation ecosystems, we are doing a deeper analysis of the policies applied in different cities, and we will continue providing findings.