As a follow-up to the 2012 Startup Ecosystem Report, Compass (https://www.compass.co) has once again compiled a list of the top 20 startup ecosystems in the world. In collaboration with Crunchbase (https://www.crunchbase.com), Compass analyzes startup development from an even broader perspective, measuring entrepreneurial expansion amongst 40 international hubs. The results vary with a wide array of development and declination, but NYC stands out as rapid development leapfrogs the city to the number two spot just behind Silicon Valley.
While Silicon Valley held the No. 1 spot since the 2012 Startup Ecosystem Report, New York City has been elevated from No. 5 to No. 2 on the list. Though Silicon Valley is No.1 in categories including performance, funding, talent and startup expansion; New York City exceeds the region in market reach.
Increases amongst NYC’s venture & angel funding along with the development of Cornell Tech on Roosevelt Island are just a few of the elements responsible for New York’s continuous momentum.
For the past decade, New York has been the fastest-growing tech ecosystem. According to an article, The Rise and Future of the New York Startup Ecosystem (http://techcrunch.com/2014/02/28/the-rise-and-future-of-the-new-york-startup-ecosystem/), New York owes its success to many factors including:
*”The Growth in Venture Financing” – $2.6 billion in venture capital invested in 2013
*”The Growth in Large Exits” – the NYC tech ecosystem has nearly tripled in size and its achievement of large exits creates a perfect platform for next generation entrepreneurs.
*”The Catalyst that Unlocked New York’s Growth” – Following 2000-2001 crash, New York’s Internet services increased and access to tech
*”The Urbanization of Startup Ecosystems”
Want to see NYC’s Startup Ecosystem? Check out our map! https://americanentrepreneurship.com/ny/map.html
