Tech:NYC Digest: August 24

Tech:NYC Digest: August 24

August 24, 2022 • Estimated Reading Time: 9 minutes

Wednesday, August 24, 2022  

In today’s digest, key takeaways from the second New York primary, the next generation of COVID-19 shots, and how the New York cyber sector built a pandemic-proof growth strategy.

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By the numbers:  

  • New positive cases statewide: 4,632      

    • New positive cases, NYC: 2,171

  • NYC Positivity Rate (Daily): 6.8% 

    • NYC Positivity Rate (7-Day Average): 5.4%  

In today’s latest: 

  • It was a quick evening that went as expected for most races in yesterday’s primary election. (Gothamist) Here are a few key takeaways as voter look ahead to the November general election.

    • Nine Democratic senators who represent New York City faced primary challenges, and all nine appeared on their way to victory.

    • Rep. Jerrold Nadler won in the hotly contested seat for New York’s 12th Congressional District, ensuring NYC will retain the state’s longest-tenured congressperson (assuming he defeats Republican nominee Michael Zumbluskas in the heavily Democratic district).

    • Absentee ballots are holding up some election results. Mail ballots are likely to continue arriving for days, so some winners may not be immediately called in particularly tight races and those with higher-than-expected turnout. (New York Times)

  • Pres. Biden announced a long-awaited student loan forgiveness plan: borrowers who earn less than $125,000 per year, or families earning less than $250,000, are eligible for $10,000 in debt cancellation. Pell Grant recipients are eligible for another $10,000 of cancellation. (CNN)

    • The moratorium on federal student loan payments has also been extended “for the final time” through the end of 2022.

  • The Biden administration plans to offer the next generation of coronavirus booster shots to those 12 and older soon after Labor Day, a campaign that officials hope will better protect against a winter surge. (New York Times)

    • Both Pfizer and Moderna have submitted their applications to the FDA for emergency use authorization of their updated COVID-19 vaccine. (CNN)

  • And lastly, MoviePass is back.

In other reading:

  • What Platform Barriers on the New York City Subway Could Look Like (Bloomberg)

  • Inside the Making of New York City’s Bizarre Nuclear War P.S.A. (New York Times)

  • New York’s Oldest Form of Dining is Now the Hottest Form of Dining (Eater New York)

Companies of all types have been retooling their operations needs in the era of hybrid work, but one that’s remained a priority — exactly because of more widespread remote work — is cybersecurity. As a result, the sector has seen major growth during a time very few others could say the same.

  • According to new research, the global cybersecurity industry is expected to balloon to more than $400 billion in market size by 2027. (Fortune)

NYC has been home to much of that growth: our Innovation Indicators research identified at least 220 cybersecurity startups in the city, a 36% increase (up from 162) in 2016.

  • Talent remains in high demand to support that growth: our May 2022 research with Accenture found more than 70% of executives expected to increase hiring this year compared to 2021, and the top area of expertise they’re looking to hire for is cybersecurity. 

  • Earlier this year, Gov. Kathy Hochul and Mayor Eric Adams jointly launched the Brooklyn-based Joint Security Operations Center (JSOC) to use the expertise of much of that talent to counter cybercrime and respond to future threats.

Research shows that even though the number of cyber attacks increased, concern around internet security fell between 2019 and 2020.

  • This week, Amazon announced a partnership with National Cybersecurity Alliance to launch Protect & Connect, an effort to help consumers understand simple steps to stay protected online. The resource is available in nine languages.

In other reading:

  • Who Is Quiet Quitting For? (New York Times)

  • DigitalOcean chief people officer Matt Norman: You survey your employees too much (Protocol)

  • 4 lessons I learned the hard way as a first-time founder (Fast Company)

  • Carbon Direct, a NYC-based carbon management firm, raised $60 million in equity funding. Decarbonization Partners (a partnership between Temasek and BlackRock) and Quantum Energy Partners co-led the round. (TechCrunch)

  • CurbWaste, a NYC-based waste management SaaS software, raised $6 million in seed funding. B Capital Ascent Fund led the round and was joined by Mucker Capital. (Businesswire)

  • Hazeltree, a NYC-based treasury and liquidity management technology firm, raised $14 million in funding. FINTOP Capital led the round and was joined by Hamilton Lane. (Businesswire)

  • Pace, a NYC-based revenue platform, raised $5 million in seed funding. Work-Bench led the round and was joined by AlleyCorp and other angels. (Newswire)

  • Qloo, a NYC-based AI platform for culture and taste preferences, raised $15 million in Series B funding. Eldridge and AXA Venture Partners co-led the round. (TechCrunch)

  • Reposite, a NYC-based supplier management platform, raised $7.5 million in funding. Liberty City Ventures and Greycroft co-led the round and were joined by investors including MATH Ventures, BDMI, and other angels. (Phocuswire)

Cela Innovation, in partnership with the Morgan Stanley Multicultural Innovation Lab, is seeking founders for its next Office Hours installment. Cela brings together early-stage entrepreneurs with leading accelerator program leaders and investors to make one-on-one matches with mentors. Learn more and apply for the Aug. 30 virtual event here.Catalyst, an incubator for early-stage social impact tech organizations operated by Blue Ridge Labs, is accepting applications for its next cohort. The six-month program offers up to $60K in funding, community-centered research and other in-kind support services, free office space, and more. Learn more and apply by Sept. 6 here.Newlab, in partnership with Globant, is accepting applications for its Ethical AI Studio. Early-stage companies looking to test new products and solutions that promote wellbeing and restore public trust in emerging tech are invited to apply. Benefits include access to a $100K grant funding pool, access to an angel investors network, as well Newlab space, industry experts, and prototyping resources. Learn more and apply by Sept. 21 here.Hack.Diversity, an initiative founded in Boston with a commitment to advancing Black and Latine/x professionals in tech, is expanding to New York and accepting applications for its inaugural NYC fellowship program. The nine-month program is seeking early-career software engineers interested in accelerating their careers in tech and building a diverse network. To get involved, reach out here. Learn more and apply by Oct. 1 here.

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