SILICON ALLEY’S MAYOR
FOR the first time in four years, New York City’s hiring demand for tech positions has topped Silicon Valley’s — another feather in Mayor Bloomberg’s cap.
Thanks in no small part to his leadership, New York’s tech boom is attracting worldclass talent, creating more goodpaying jobs and broadening the tax base. Now the city’s tech entrepreneurs — and the investors backing them — are watching the mayoral race to see how candidates plan to continue this success.
Speaker Christine Quinn has been building a tech agenda — but, as Andrew Rasiej, chairman of NY Tech Meetup, noted of her recent address on the subject, “A lot of the speech was about how the tech industry can help the city, not how the city can help technology.”
Nor did Quinn or Public Advocate Bill de Blasio show up for the NYC Tech Forum in Queens, and the candidates who did show weren’t especially convincing.
Taking tech for granted is a mistake, especially with tech entrepreneur Jack Hidary throwing his hat in the mayoral ring. Candidates need to get some fresh ideas flowing and clearly explain how they plan to build upon — and not undo — Bloomberg’s work to strengthen a local ecosystem where tech can thrive.
Love him or hate him, Bloomberg made remarkable progress via a mix of venturecapital incentives, techfriendly policies and highereducation initiatives. From 2007 to 2011, reports the Center for an Urban Future, the city counted more than 1,000 Webbased tech startups, more than 80 of which raised at least $10 million worth of investments — passing Boston to become the No. 2 tech hub in America. Tech jobs also rose nearly 30 percent.
And this was during one of the worst US recessions ever, when much of the country was shedding jobs and losing money.
I moved my company’s headquarters from London to New York City two years ago because the mayor was making it easier for companies like mine to set up an office, raise capital and tap into New York’s unparalleled natural advantages. You’d be hardpressed to find a better mix of talent and opportunity among investors, partners and customers than here, the world’s business and financial capital, perfectly positioned between Europe and the West Coast.
But London and Silicon Valley have their own advantages; I was compelled not only by Bloomberg’s policies, but also by his leadership and passion. He was eloquent in making the case for New York’s tech potential, and scrappy enough to sound genuinely eager as he fought for the business.
I’m not alone. In the past few years, we’ve seen many exciting companies spring up here, from Tumblr (a microblogging service) to ZocDoc (changing how doctor’s appointments are made) and Warby Parker (revolutionizing the glasses market). And of course, Facebook and Google have opened offices in the city.
But there’s plenty left to do. For starters, with the revolution in the use of Web and mobilebased technologies, businesses need quick and consistent access to highspeed Internet. Bloomberg and Quinn recently announced several promising initiatives to expand infrastructure for and access to broadband networks. Our next mayor needs to keep these programs on track and ensure they translate into robust and reliable wireless Web access.
We also need more citywide incubators. These give startups access to workspace, support and the broader tech community, and can help offset the prohibitive cost of real estate. More taxfree zones for tech startups would help, too, as would anything that frees businesses up to focus on hiring and growing.
Let’s not forget that excessive regulation and high taxes are the enemies of any startup. It would be great to hear the candidates not just talk about the new laws they want, but also the unnecessary rules they’ll remove.
New York City has come a long way in a short time on tech. But there’s no guarantee that we’ll keep it up. Other cities are vying for New York’s entrepreneurs — and tomorrow’s tech successes — and are ready to welcome them with open arms should we falter. The course our next mayor sets could make all the difference.