New York City Is Now the Second Most Techy in the Nation


Yeah, we’re not Silicon Valley, no matter what you want to think. (Personally, we have no interest in being Silicon Valley.) Crain’s reports, however, that New York City has replaced Boston as the Number 2 tech hub in the nation, with $642.2 million in venture capital funding coming into the metro area in the second quarter, and “more than $416 million going to 48 Internet-based companies.” (Gilt Groupe, for its part, got $138 million in funding.) Comparably, in Massachusetts and its environs, only 22 Internet-based companies got $290 million. “New York has blossomed into a great place for young, emerging companies to do business,” said David Silverman, managing partner at PricewaterhouseCoopers. Related: Mayor Bloomberg announced yesterday plans to provide up to $100 million to an institution “that will build or expand a science or engineering campus in the city,” leading to the creation of 400 new companies and 22,000 jobs in its first 35 years. Time to set up that Twitter account, huh? [Crain’s NY]