United States

New York City

#2

Global Startup Ecosystem

Members: New York City Economic Development Corporation / Tech:NYC

#2

Global Ecosystem in Funding

#2

Global Ecosystem in Performance

#2

Global Ecosystem in Talent & Experience

New York remains a key hub for startups scaling emerging technologies, especially AI, life sciences, and climatetech. With a strong talent pool and growing investment, the city’s tech ecosystem is poised to drive economic growth, making us more optimistic than ever about New York’s future.

Julie Samuels

President & CEO of Tech:NYC

Highlights

New York City's dynamic startup environment, surge in investment, and supportive policies underscore its position as a leading global innovation hub. In 2024, NYC accounted for 14% of U.S. Seed and Series A fundraising in AI, bolstered by research institutions like NYU and Columbia. VanEck Ventures launched a $30 million fund in 2024 to invest in 35 Crypto, AI, and Fintech startups. Cyera, an AI-powered data security platform, led Q4 2024 with a $300 million Series D round. Wiz became the world’s largest cyber unicorn, and Alphabet announced its largest acquisition ever by agreeing to purchase them for $32 billion. This year, New York City Economic Development Corporation (NYCEDC) and Tech:NYC launched a campaign to encompass the tech sector’s growth into its integral place in New York City.

Diversity is a cornerstone of NYC’s startup scene, driving solutions reflective of its global community. NYCEDC’s 2024 report, Venture Access NYC: Building an Inclusive Tech and Venture Ecosystem, underscored diversity as a key strength. The Women.NYC: Pivot to Growth program supports career pivots into tech, Green Economy, and Life Sciences. STEM employment has added 130,000 jobs over the past decade. Initiatives like the SEEN Summit and SEEN 50, by Tech:NYC and Visible Hands, spotlight underrepresented founders and connect them with investors.

NYCEDC signed an MOU with the Tokyo Metropolitan Government to mutually support startup expansion plans. NYCEDC also launched the Game Design Future Lab with NYU Tandon as a new digital game design incubator. The AI Summit New York hosted the Game Developers Conference for the first time in 2024. The 2025 edition will be held in December.

Ecosystem by the Numbers

ECOSYSTEM VALUE

(H2 2022 - 2024)

$621 BN

GLOBAL AVG. $20.4 bn

NUMBER OF UNICORNS

(ACTIVE UNICORNS)

150

GLOBAL AVG. 4

SOFT. ENGINEER SALARY

(2024)

$153 K

GLOBAL AVG. $52 K

TIME TO EXIT

(2020 - 2024)

9.9 YEARS

GLOBAL AVG. 11.2 years

TOTAL EARLY–STAGE FUNDING

(H2 2022 - 2024)

$15 BN

GLOBAL AVG. $514.8 m

MEDIAN SEED ROUND

(H2 2022 - 2024)

$2 M

GLOBAL AVG. $889 k

EARLY-STAGE FUNDING
GROWTH

(2021 - 22 VS. 2023 - 24)

5

Scale of 1 (lowest) to 10 (highest)

EXIT AMOUNT

(2020 - 2024)

$141 BN

GLOBAL AVG. $8 bn

ECOSYSTEM VALUE GROWTH

(H2 2020 - H2 2022 VS H2 2022 - H2 2024)

-2%

GLOBAL AVG. -14%

MEDIAN SERIES A ROUND

(H2 2022 – 2024)

$10.8 M

GLOBAL AVG. $6.8 m

TOTAL VC FUNDING

(2020 - 2024)

$166 BN

GLOBAL AVG. $5.2 bn

EXIT COUNT (#)

(2020 - 2024)

1548

261

2020

414

2021

304

2022

293

2023

276

2024

GLOBAL AVG. 86

Sub-Sector Strengths

AI, Big Data & Analytics

NYCEDC’s “New York City’s AI Advantage” outlines 18 commitments to establish NYC as a global hub for Applied AI. Highlights include a $3M investment in the “NYC AI Nexus” to connect startups with businesses, an AI advisory council by NYCEDC and Tech:NYC, and the Startup Internship Program placing CUNY students in AI startups. Empire AI, Compute for NY’s research community, supports 85 research projects with 250 researchers. NY Tech Week features AI-focused events, and OpenAI has opened a 90,000SF office in NYC.

Life Sciences

The multi-billion Science Park and Research Campus Kips Bay project is a first-of-its-kind Life Sciences innovation, career, and education hub expected to generate $42 billion in economic impact, create 15,000+ jobs, and establish a pipeline from NYC’s public schools and universities to Life Sciences careers. The Innovation East development will be a new state-of-the-art Life Sciences hub. Harlem Biospace @ Mink, a $9 million Life Sciences hub, opened in 2024 to support up to 15 early- and mid-stage Biotech firms.

Climatetech

New York State launched an $80M fund to support climate resiliency projects. The Green Economy Action Plan positions NYCEDC as a sustainability leader, aiming to triple job growth over the next two decades. NYCEDC will open a Climate Innovation Hub and supports Climatetech companies through its Brooklyn Army Terminal piloting program. Climate Technology Showcase, hosted by Trust for Governors Island, NYCEDC, and Brooklyn Navy Yard, highlights commitments to climate innovation through pilot programs, workforce development, and regulatory support. Climate Week NYC is held annually alongside the UN General Assembly.

Reasons to Move Your Startup to New York City

High-Quality Talent

NYC offers startups a vast, diverse talent pool. It has the largest base of STEM-educated adults in the U.S. with 100+ higher education institutions serving 503,000+ students, and producing 500+ startups in recent years. NYC Council approved a $5B plan for new housing units in 2024, aiming to attract talent. Among Americans aged 25+ with a Bachelor’s degree or higher who moved to a new county, 6.1% chose NYC, almost double the next highest destination.

Access to Capital

In June 2024, startups raised over $2.3 billion, marking one of the strongest funding months in the city's history and highlighting robust investor confidence and ample funding opportunities for emerging ventures.

Dedicated Support

NYC’s vast VC network, coworking spaces, and public-private partnerships provide critical resources, making it a premier hub for entrepreneurs. NYCEDC’s Founder Fellowship supports underrepresented NYC founders, helping them scale. NYCEDC will launch the International Landing Pad, a network of programs across the city supporting international expansion. Tech:NYC Founder House connects 25 early-stage tech entrepreneurs with investors, industry experts, and peers each quarter through curated networking and collaboration opportunities.

Selected Startup Organizations

Startup Genome Members

MEMBER

New York City Economic Development Corporation

New York City Economic Development Corporation is a mission-driven, nonprofit organization that works for a vibrant, inclusive, and globally competitive economy for all New Yorkers. We take a comprehensive approach, through four main strategies: strengthen confidence in NYC as a great place to do business; grow innovative sectors with a focus on equity; build neighborhoods as places to live, learn, work, and play; and deliver sustainable infrastructure for communities and the city's future economy.

MEMBER

Tech:NYC

Tech:NYC is an engaged network of tech leaders working to foster a dynamic, diverse, and creative New York. We bring together New Yorkers to support a successful technology ecosystem, attract and retain top-tier talent, and celebrate New York and the companies that call it home.

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