Tech and the City: The Making of New York's Startup Community

by Maria Teresa Cometto, Alessandro Piol, Fred Wilson (Foreword)

Over 1,000 New York-based technology startups are currently hiring. This may come as a surprise to many who thought of New York as the capital of traditional industries such as financial services, media, advertising and fashion, but not necessarily as a high-tech hub. Yet, it is over the past several years the level of startup activity in the city of New York has increased at an exponential rate, reaching and surpassing Boston in number of tech companies formed and money invested.It is good news for the Bloomberg administration that has made the creation of a high-tech industry a strategic priority after the financial collapse of 2008. It is also good news for the many investors in the city (both “angels” and venture capitalists) who have seen the number of opportunities created increase at a fast rate. And it is good news for the entrepreneurs who can finally benefit from a working ecosystem and from an influx of capital not seen since the internet bubble of the late ‘90s.“Tech and the City” is the first book telling the story of how and why this is from the birth of Silicon Alley in the ‘90s to today’s level of activity and important milestones, such as the building of the Cornell NYC Tech campus. Based on over 50 interviews with entrepreneurs, angel investors, venture capitalists, university professors, members of the Bloomberg administration and other stakeholders, this book’s objective is to inform and inspire the current generation of entrepreneurs.Fred Wilson, the best known venture capitalists in New York and one of the most important in the US, wrote in his “I hope this book will be an inspiration to New Yorkers to embrace the technology revolution that has taken hold in our city. I also hope it will be an inspiration to other cities, countries, and cultures who may have missed out on the initial wave of the technology revolution.”“Tech and the City” takes us on a historical and geographical tour of New York, while addressing the hot themes for entrepreneurs and investors. It is also a guide to help navigate the NYC how to network and become part of the community; what to read to understand and keep informed; where to raise capital; what help is available for any professional, entrepreneur, student, researcher seeking to settle in the city.And this is just the basis for an ongoing conversation, which we hope will continue on our blog, authors, Alessandro Piol and Maria Teresa Cometto, know the story and the industry well. Alessandro has been a New Yorker for 35 years and a venture capitalist for 20, during which he has seen firsthand the evolution of the New York entrepreneurial ecosystem. He has a deep knowledge of the tech industry and a passionate involvement in the NYC community, where he invests in, and mentors, a number of young entrepreneurs. Maria Teresa Cometto is a journalist and award-winning author based in New York since 2000, covering business and high-tech for the largest Italian daily, Corriere della Sera, and for other important publications.

Genres: Business

262 pages, Kindle Edition

First published November 17, 2013

About the author

Maria Teresa Cometto has been living in New York since 2000. In addition to working for almost 30 years as a journalist for the leading Italian daily "Corriere della Sera", she has written several books including "Emma and the Angel of Central Park. The Story of a New York Icon and the Woman who Created It" (2022, Neri Pozza; 2023 Bordighera Press) and "La Marchesa Colombi. Life, Novels & Passions of the First Woman Journalist of Corriere della Sera" (2020, Solferino). She is co-author of "Tech and the City. Startups in New York" (2013, Guerini; 2013, Mirandola Press) and "Kids & Money" (2001 and 2008, Sperling & Kupfer).

When first published in Italy (1985), her book "Due Montanari" about the Squinobals was awarded by Mario Rigoni Stern with the "Silver Thistle" at the Itas Prize for Mountain Literature. Her book about Marchesa Colombi was a finalist of the 2021 Robinson Literary Tournament in Italy.

She graduated cum Laude from Milan's Università Statale with a degree in Philosophy.

On June 2, 2017 she was awarded the title "Cavaliere (Knight) dell'Ordine al Merito della Repubblica Italiana". Born in Novara, Italy, Maria Teresa became an American citizen in 2018.

Reviews

[Rick · Rating 3 out of 5]

A decent overview of the New York tech ecosystem, though definitely could have benefited from an expanded interview roster. Many great companies, important people omitted. A slightly over-emphasized eye on the immigrant network, but that's totally okay. Just a bit unexpected to see some random companies over some of the more well known. But, then, it relies heavily on interviews, and interviews only work with people who say yes, so... smart move, people who said yes! The Fred Wilson, Kevin Ryan, Evan Korth and Scott Heiferman interviews are particularly interesting, even if you've read many previous ones from them.

[Nico · Rating 3 out of 5]

This book covers the startup scene in New York City and aims to show how the startup ecosystem in New York City. While I think it does a good job at describing what happened, the book has its lengths by always referring to the same people and startups over and over again. It seems that they only talked to a handful of people and I would like to get a broader perspective. still, the book shows interesting insights about the startup ecosystem in New York City.

[Daniel Cukier · Rating 4 out of 5]

It is a good reading. Many stories about big names in the New Your Startup ecosystem. For those who would like to understand the history behind startups creation, it is worth to read.