New York City has amassed more than 10 per cent of the global urban tech venture capital investment share
The New York City Economic Development Corporation (NYCEDC) and CIV:LAB, a global non-profit dedicated to connecting urban innovation ecosystems around the world, have launched The Grid, a network for New York City’s urban tech community
The Grid consists of over 70 organisations from various industries that will share ideas, build new partnerships and offer key resources to each other. It aims to connect industries, organisations and professionals to foster growth opportunities for businesses, increase public awareness of the benefits of urban tech, promote urban tech innovations and solutions and host events and tailored programmes for the industry.
Explosion in urban tech
The launch is part of NYCEDC’s Urbantech NYC programme and its commitment to promote and grow quality tech and innovation jobs for all New Yorkers while cultivating dynamic, resilient communities across all five boroughs.
New York City is a global leader in the urban tech start-up space, with the most robust ecosystem offerings globally and amassing more than 10 per cent of the global urban tech venture capital investment share. As a result of the rapid growth, numerous start-ups, workspaces, educational trainings, and mentorship programs have emerged to support the industry. It is ranked top in Savills Tech Cities global research programme.
“The Grid represents a promising new way for NYCEDC to work across sectors to strengthen collaboration and innovation, first in New York City and hopefully soon in many more cities across the country and around the world,” said James Patchett, NYCEDC president and CEO.
“It signals that New York City is leading with a new approach to technology and start-up culture, with a real focus on diversity, inclusion, equity, and community.”
The Grid 2019 inaugural steering committee includes a broad range of organisations including Accenture, Bronx Cooperative Development Initiative, Downtown Brooklyn Partnership, Samsung NEXT, Rentlogic, Smarter Grid Solutions, Civic Consulting USA and the World Economic Forum.
In addition to Urbantech NYC initiatives, the NYCEDC is funding an expansion, consisting of a new Urbantech NYC website and an academic consortium known as The Grid Academy, which aims to connect corporate sponsors and local academic institutions to foster applied research and development across multiple disciplines including engineering, science, business, and policy.
“The Grid represents a promising new way for NYCEDC to work across sectors to strengthen collaboration and innovation”
Additionally, CIV:LAB will be working with Grid Members and sponsors who will support specific Urbantech NYC events and programmes.
“Since its early days, innovation has been part of the DNA that is New York City,” said Jeff Merritt, head of IoT and smart cities at World Economic Forum, a Grid steering committee member.
“Nowhere else in the world can you find an ecosystem that combines as many industries and nationalities. New York’s thriving urban technology community is a natural byproduct of what happens when you allow diversity, entrepreneurship and ambition to collide in one of the greatest cities in the world.