Page 14 - BWM March 2013

14 | Business World Magazine | March 2013
News conference with New York City Mayor Michael Bloomberg
In the hype over hubs-of-technology, California’s Silicon Valley is seeing increasing competition
from emerging markets. Data released this month indicates that over the last year, 127 start-ups
were created in New York, just shy of the combined 131 which opened between San Francisco and
Palo Alto in California. Big Apple business dealings in tech bolstered the state’s economy by more
than $8 billion dollars last year, and analysts assert tech transitions to East Coast opportunities will
only increase. Adding credence to that prognostication, when the New York City government
recently enhanced its economic development campaign called “We are Made in NY” to include
this industry sector, some 900 technology-based startups posted job openings on a website
affiliated with the campaign. Office space subsidies, personnel training grants and funding
resources are adding to the allure of the city that never sleeps.
Treks
to
Tech