Statement From Deputy Mayor Alicia Glen And NYCEDC President Maria Torres-Springer on...

Statement From Deputy Mayor Alicia Glen And NYCEDC President Maria Torres-Springer on 2015 Venture Capital Investments in New York City Companies

New York, NY – January 18, 2015 – (RealEstateRama) — Reports on PricewaterhouseCoopers LLP and the National Venture Capital Association’s analysis of Venture Capital funding indicate that $5.95 billion of venture-capital funding was invested in New York City companies in 2015, up 62 percent from the $3.67 billion invested in 2014. In total, there were 395 venture-capital deals in 2015, up from 367 the previous year.

“I‎t’s no surprise that nearly $6 billion in venture capital funding flowed into New York City in 2015, and with programs like Venture Fellows, our Early Stage Life Sciences Funding Initiative and our annual BigApps competition, the City is investing in our innovation economy and ensuring that New York City remains the place to launch and grow a startup.”  ‎

“New York City continues to be the economic capital of the world, home to diverse and innovative entrepreneurs, large markets and incredible assets that emerging companies need to grow,” said NYCEDC President Maria Torres-Springer. “With VC funding increasing 62% over last year, it is clear that startups are voting with their feet and venture capitalists see New York City as a center for businesses growth, research, and innovation. These investments will spur a new generation of companies that will produce new ideas, new products, and quality 21-century jobs with career pathways for New Yorkers.‎”

The PricewaterhouseCoopers and National Venture Capital Association report can be found on their website, here.

New York City Economic Development Corporation is the City’s primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC’s mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City’s competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of New York City’s many opportunities. Find us on Facebook or follow us on Twitter, or visit our blogto learn more about NYCEDC projects and initiatives.

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