NYC the best city in the world for innovation & entrepreneurship

Alessandro Piol —  December 7, 2015 — Leave a comment

Congrats to New York City, the city where tech is sexy! And it fuels economic growth with nearly 300,000 jobs in the tech industry!

According to a new study from Accenture, Nesta and Future Cities Catapult – “City Initiatives for Technology, Innovation and Entrepreneurship” (CITIE) – <<Making innovation and entrepreneurship a priority to attract and aid the development of young, technology start-up companies has earned New York City the top spot in a global comparison of 40 cities>>.

The secret? <<New York City made innovation and entrepreneurship a priority earlier than did comparable cities, and it has taken an extremely active stance towards its startup and tech communities. The city provides support for local startups across a wide range of activities, from funding and branding to community building and skills development.>>

Among other things, the report notes that New York demonstrates top tier performance through its online, interactive map of startup activity across the five boroughs: Digital.NYC. Moreover, the report names New York City as a leading example of how strategic branding can position a city and accelerate entrepreneurial development. Between 2003 and 2013, the New York City tech scene raised $3.1 billion in funding, with capital availability growing twice as fast as that in Silicon Valley.  New York City also invests in tech talent by actively sponsoring technology apprenticeships for young people. The city’s school district has added coding classes to the curriculum and trains teachers to deliver these classes.

Alessandro Piol

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Alessandro Piol is a New York-based venture capitalist and angel investor with over 30 years of experience in the technology industry. Alessandro is a Partner and co-founder of Vedanta Capital. Previously he was a General Partner of Invesco Private Capital where he headed the technology practice. Prior to joining Invesco, Alessandro spent 10 years with AT&T where he co-founded AT&T Ventures, the venture capital arm of AT&T where he focused on early-stage new media investments, as well as Pixel Machines, an AT&T-backed startup in the graphics super-computing business. Alessandro is President of the New York chapter of TiE, a global organization fostering entrepreneurship; he serves on the Entrepreneurial Advisory Board and the Board of Visitors of the Fu Foundation School of Engineering at Columbia University; and he is a mentor, advisor or board member of various private companies. He received an BS and MS in Computer Science from Columbia University and an MBA from the Harvard Business School. Twitter: @ilmago