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NYC Ecosystem. In the bustling landscape of New York City's innovation scene, collaboration is the cornerstone of progress. From the towering skyscrapers of Manhattan to the vibrant neighborhoods of Brooklyn, the process of developing, testing, and scaling innovation thrives on the support of a diverse array of stakeholders.

 

With over 9,000 startups and a venture capital ecosystem exceeding $71 billion in investment, NYC stands as a global leader in innovation and entrepreneurship. This dynamic ecosystem is fueled by the collective efforts of local innovators, government entities like NYC Economic Development Corporation, and international partners, such as the United Nations Development Program. Together, they navigate the intricate stages of scaling innovation, ensuring that groundbreaking ideas translate into tangible impact for the city and beyond.

 

Join us as we explore the vibrant tapestry of NYC's innovation ecosystem, where collaboration breeds success and collective action drives sustainable change.

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According to a report by XYZ News, published on April 1, 2024, New York City is home to over 9,000 startups (XYZ News, "Title of the Article," April 1, 2024, www.xyznews.com).

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New York CITY

CULTIVATING CURIOSITY & DRIVING INNOVATION

ECOSYSTEM

DYNAMIC
DIVERSE
CREATIVE

NYC. a capital of global  business.

economic strength + progress

New York City is showing its strength and resilience as it continues to be the location of choice for businesses in nearly every industry.

The city is headquarters to dozens of Fortune 500 companies and a global center for financial services, life sciences, entertainment, tech, media, fashion, the arts and industry.

And The Big Apple never stops growing, attracting innovators and entrepreneurs choosing to innovate here and to take the city—and region—into the future. 

     Challenge the status quo & drive mindset change by immersing yourself in one of the world's most thriving & interconnected ecosystems.

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200K+
small to medium businesses

54
Fortune 500 companies

unique advantage.

Economical Factors.

Infrastructure & Logistics.

superior conditions.

New York City: The City That Never Sleeps - Capital of the World, The Empire State of Mind

NEW YORK CITY, often affectionately called "THE CITY THAT NEVER SLEEPS" exudes an unmistakable energy that's hard to find anywhere else. It's a place where the cityscape pulses with life around the clock, and possibilities seem boundless. But this bustling metropolis is not merely about its insomniac charm; it's a multifaceted dynamo that goes by many names, including "Capital of the World" and "The Empire State of Mind." Today, we'll delve into the heart of this vibrant city, exploring its rich and diverse ecosystems that have earned it these monikers.

Capital of the World: Where Economic Might Knows No Bounds

 

Imagine if New York City were its own nation, its economic power would rival that of entire countries, surpassing the likes of Canada and Russia. This city is nothing short of an economic powerhouse, boasting the tenth-largest economy globally. With its iconic skyline and bustling streets, it's also the most photographed city in the world.

But what sets New York apart isn't just its economic might. It's a place of contrasts and contradictions, where social norms take a back seat, and diversity reigns supreme. Here, you'll find a microcosm of the world, a reflection of a powerful and diverse nation.

In the heart of the Big Apple, a world of opportunities unfolds. Whether you're an entrepreneur, a tech enthusiast, or a creative mind, New York's diverse ecosystems offer a launchpad for your dreams and aspirations.

Join us as we take a closer look at the ecosystems that make this city thrive— from tech and innovation to entrepreneurship, diversity and inclusion, culture, architecture, education, and more. New York City is not just a place; it's an ecosystem of possibilities.

Iconic Skyline - New York City boasts over 200 buildings that are taller than 500 feet, making it home to one of the most iconic skylines in the world.

Cultural Diversity - NYC is home to residents from over 150 countries who speak 800 languages, making it one of the most culturally diverse cities on Earth.

Financial Epicenter - New York City's financial institutions conduct billions of dollars in daily transactions, solidifying its status as a global financial epicenter.

Built 

for business

01.

real estate & office space

The cost of rent or lease is much higher in NYC than in other cities, but the ROI is also far greater. Atmospheres, amenities, and price points… NYC's ample real estate and office space affords companies the ability to choose a space that fits their #culture and #growth

Flatiron District, Soho, Chelsea, FiDi… #Hudson-Yards or Long Island City - NYC offers a range of site options, as well as proximity to airports, shipping facilities, suppliers, partners, and customers.

02.

A Talented Population

Invaluable to growing business are people with the right skills: NYC's world-class educational, arts, and research institutions serve as a pipeline for future growth, as well as a rich and varied talent pool. 

03.

A Diverse Economy

With NYC Government as its engine, the Big Apple is home to multiple industries and business sizes -  and not tightly centered on Tech like Silicon Valley. That is why New York's economic market tends to be more resilient to regional or national economic downturns.

Plus, economic diversity is appealing to young talent and millennials, who dislike the perception that they could be boxed into a specific job type forever. .

03.

Global connectedness and proximity

#proximity to partners, suppliers and customers allows New York-based companies to easily move people and goods, quickly and cost-effectively, by taking the lead.

On the other hand, doing business globally requires the ability to easily hop on a flight (international airports) or ship goods efficiently (nearby NYC’s shipping sources).

#inclusivity is a key trait that businesses seek out, but also an asset for growth. NYC is a welcoming place for people of all backgrounds. The city supports culture and the arts, inclusion of the LGBTQ community, immigrants and other non-natives. that fits their culture and growth. 

04.

favorable financing

Edit Invaluable to growing business are people with the right skills: NYC's world-class educational, arts, and research institutions serve as a pipeline for future growth, as well as a rich and varied talent pool. paragraph to add any content you would iike to share about your company or service.

06.

consumer volume

With NYC Government as its engine, the Big Apple is home to multiple industries and business sizes -  and not tightly centered on Tech like Silicon Valley. That is why New York's economic market tends to be more resilient to regional or national economic downturns.

Plus, economic diversity is appealing to young talent and millennials, who dislike the perception that they could be boxed into a specific job type forever. .

NYC ranks #2 as having the best tech ecosystem in the world. 

make New York City an even more vibrant and desirable destination for businesses and talent

The ability to stay ahead of the curve will depend largely on coordinated actions between city government, industry, and academia. To remain a “destination of choice” for years to come, the City should continuously evaluate its position and align its talent value proposition to the needs of stakeholders.

We encourage you to think about the six talent drivers, our findings and recommendations, and how they apply to your team, your organization, your association, and the City of New York. Together we can work to strengthen our solid resource base and make New York City an even more vibrant and desirable destination for businesses and talent for years to come.

https://pfnyc.org/wp-content/uploads/2020/02/2013-Aon-PFNYC-Report.pdf

own text and edit me. It's easy.

New York City aka the SILICON ALLEY tied with London globally and recorded its best scores in the categories of "performance," "funding," "connectedness," and "talent."

More burgeoning tech companies are moving there in order to be close to their peers.

New York City's splendour and population are only matched by the incredible startup ecosystem there. Many top startups come from New York and New York startups are frequently supported by an amazing professional network with ample opportunities for investment. These are the main two reasons why the city is a fantastic hotbed for entrepreneurs and those looking to create the next big thing. Every year, hundreds of new startups are created and we're looking into the best of those today.

https://startupstash.com/new-york-startups/

TECH ECOSYSTEM - High tech destination

Riding a wave of startups, New York has emerged as a national leader in areas that leverage the internet and mobile technologies - a development that has provided a major economic boost and positioned the city as the #2 tech ecosystem in the world.

New  Tech City

$371 bn
Tech Ecosystem Valuation

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+9,000
start-ups

$88 bn

Total VC funding

(2017-2021)

1M

The number of college students in NYC, making it America’s biggest college town

NYC. a TECH INNOVATION LEADER.

And a hotbed for entrepreneurs

NEW YORK STANDS OUT THROUGH SOMETHING UNIQUE:

NYC is unique and can't always be compared to other global cities. The one thing that sets it apart, though, are the connections and the communities that form its ecosystem. They are key drivers of its growth and sustainability success.

How City governments can build effective policies to support the growth and sustainability of your burn technology ecosystems.

The city collaborates with local communities to improve skills, jobs, and opportunities for all Londoners while preserving the city’s culture, history, and green areas

PROGRESS THAT NEVER SLEEPS. Military port, manufacturing hub, financial epicenter and now #2 tech city in the world, NYC continues to transform and reinvent itself!


This ability to change, adapt and innovate has bolstered its tech ecosystem's resilience through the pandemic. Spectacular IPOs, record-breaking fundraisings, hiring deals: NYC's Startup Culture is stronger than ever. 


Technology is the business driver of the future, and New York is the city that is fully embracing this opportunity.

What it Takes

NYC's tech sector gets its strength and dynamism from these key assets:

  • Talent: The city's tech workforce is growing at an unprecedented rate. Accounting for over 320,000 jobs, it is one of the largest metropolitan tech workforces in the US.

  • Academia: NYC’s 120 universities, graduating 4,500 computer science majors each year, drive the city's reputation for cutting-edge research and redefine what emerging technology can be. as highly qualified graduates earn more money and generate higher tax revenues.

  • Diversity: Home to 3.2 million immigrants from over 150 countries, NYC has an immense and diverse workforce, bringing broader perspectives and skills to the industry. Today, almost 50 percent of people working in tech in NYC are foreign-born, and over 40 percent are people of color.

  • Access to Capital: NYC has a robust community of 200+ angel and VC investors to infuse new venture launches with funding. In 2017, this amounted to over $12 billion, and an average of nearly $570,000 in early-stage invested capital per startup.

  • Anchor Industries: Home to more Fortune 500 companies than any other city in the world, NYC has long been a global leader in traditional “anchor” industries, including financial services, media, and fashion retail and manufacturing. These sectors play an invaluable role in fueling the adoption of new innovations in the emerging tech industry.

NYC talent pool is the main reason why big companies like Amazon or Google chose NY to expand

Talent: people with the right skills and passion.

NY force (factors) =proximity + density + variety of people an firms

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To LEXNYC NY competitive advantage lies in the diversity of its industry.

>NYC is also the highest in industry-diversity. 
Any type of business you can think of has a headquarters in New York City. From fashion to wielding, pharmaceuticals to food chains, finance to technology. This city has it all. We create from scratch for every industry from body staplers to Marvel's Avengers to Asteroid mining. One way we've been able to understand the wide-ranging needs of our customers is because they often have a headquarter right down the block.

More money and bubbly behaviour

Tech is just one small part of what the NYC startup scene has to offer. In adding to tech startups, there are also many success stories in finance, art, healthcare, media and advertising.

Today, New York is a world leader in media, advertising, communications, marketing and financial services. A collaborative city with a high creative density, the Big Apple also excels in the fields of art, design and architecture.

New York City By The Numbers

 

#1 

center for tech employment (NYC/MSA area) 

#2 

 in nation for general VC investment (NYVCA) 

#1 

world financial center (Global Financial Centres Index) 

I. Global Version
Successful business leaders need to know about the trends and monitor the market. NYC provides you the best place to ‘forecast’ the world trends. Generally NYC is ahead of most global trends. Standing at this birthplace for many economic and cultural developments, you can make the right strategies to outperform your competitors.

These factors help to attract highly paid workers and drive economic growth. 

The NYC Difference > People > Diversity > Talent

 " Striving for opportunities, challenges, diversity and innovation, about 1/3 of the Big Apple's residents come from somewhere else.

  • New York is a dynamic city that attracts forward-thinking talent and early adopters – these are the perfect conditions for an ambitious start-up.

  • NYC stands out as one of the most diverse business scenes in the world: 19% of founders are women, compared to the 16% global average, and 25% are immigrant founders, compared to the 19% global average.

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“Ellis – Immigrantes”
New York, USA: new mural by Brazilian artist Eduardo Kobray.

NYC. HOME OF THE AMERICAN DREAM

> NYC is the most diverse city in the world.
Dreams are made in New York City for any person from any country or culture on the globe. New York's diverse people give us a unique perspective on the world.

“Fears of a mass exodus away from cities in the wake of the Covid-19 pandemic, driven by the move to remote working, appear to have been exaggerated. Data now points to a trend of movement away from city centres, but not away from cities entirely.

“The idea of a 60:40 week – three days in an office and two days working remotely from home – has now started to become a reality. And although people are spending less time in the central areas, cities remain important as they are the backbone for businesses and offer vital opportunities for collaboration, which is essential, particularly in the new knowledge economy.”

TOURISM New York City is a top global destination for visitors.

 

 drawn to its museums, entertainment, restaurants and commerce. The City is also host to conventions and trade shows, and major athletic events such as the New York City Marathon and the U.S. Open.

The tourism industry is a vital component of New York City’s economy and functions as
a dynamic ecosystem of attractions—shows, events, shopping and food—glued together by hospitality and transport, which serve as the core infrastructure.

(...) After reaching a record high of 66.6 million visitors in 2019 and generating $47.4 billion in spending, the number of visitors to New York City dropped by 67 percent and their spending declined by 73 percent in 2020. 

OSC estimates the industry lost nearly a third of its employment in 2020. Visitors and their spending are not projected to reach pre-pandemic levels before 2025. 

In its effort to reignite the tourism industry, the
City cannot simply rely on vaccinations and reopening—which are necessary steps—for the industry to return, but must also develop a proactive strategy that cultivates and attracts international and business travelers to restore the industry to robust health and return to a path of continuous and shared growth.

https://www.osc.state.ny.us/files/reports/osdc/pdf/report-2-2022.pdf

people

economic

assets

networking 

assets

infrastructure

enabling

environment

Diversity- A fact about humanity.

And a potential lever to achieve organizational success.

Empowerment- We are a community. 

We use this driving force to advance our people's rights.

Resilience- An attitude and a skill.

Ability to constantly innovate & grow stronger in turbulent times. 

#Diversity

The world in a city.

800 languages are spoken in NYC

.

#mindset

Empire State of mind

NYC makes you feel brand new

#Resilience

NYC is the most resilient city in the world

New York, USA: But what is the New York State of Mind, and what does it mean to have an Empire State of Mind? What is it about this city that transforms the mind, body, and soul so deeply? 

to build effective talent strategies (methodologies) to solve gap(s), (you/organisation)  can retain its top competitive position into the future.

We believe the key imperatives for consideration are: 

 

Holistic Vision and Focused Initiatives > the needs of every sector are unique. A vision that helps address all needs is critical. However, implementation must be focused on driving specific outcomes for a sector or stakeholder group.

 

Collaborative Thinking and Role-based Execution > consensus in design and clarity in terms of roles and responsibilities.

 

Monitor Progress and Evaluate Outcomes > manage all initiatives, monitor progress, and evaluate outcomes against predefined parameters.

 

Iterative Improvements and Constant Upgrades > business dynamics and the macro environment change constantly. Understanding future needs and recalibrating initiatives to address these will help build a sustainable model.

410,000+
WOMEN OWNED BUSINESS

$1.66 trillion
GMP
GROSS METROPOOLITAN PRODUCT

Image by Monika Kozub

The Big Apple is a city of extremes and superlatives, constantly reinventing itself! Diverse, vibrant, electric, magnetic, magical, spectacular, inventive, powerful... NeW York is the city that never sleeps and where dreams are made! 

LEX|NYC is honored to be a part of this dynamic community that collaboratively and resourcefully tackles challenges and recognizes the value of collective solutions. Together, we shape a more resilient and inclusive future.

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