Economy
New York City: The Nation's Second Leading Tech Hub
In the last few years, New York has risen to prominence in the world of tech start-ups.
New York City has emerged as the nation’s second leading high-tech hub, according to a new report by The Center for an Urban Future. "In 2006, I wouldn't have put New York anywhere on the map," Silicon Valley high-tech and venture capital expert, Vivek Wadhwa, told the authors of the report. "If there is any second to Silicon Valley, it’s now New York not Boston."
Since 2007, 486 of New York City's’s high tech start-ups have received venture capital investment, mainly in the fields of the Internet and mobile technology. Of these, 15 have raised more than $50 million in venture funds, 27 have attracted at least $25 million and 81 have raised $10 million or more, according to the report.