Tech:NYC Digest: December 14

Tech:NYC Digest: December 14

December 14, 2022 • Estimated Reading Time: 9 minutes

Wednesday, December 14, 2022

In today’s digest, the New New York roadmap that casts a vision beyond pandemic recovery, why indoor mask mandates are being triggered again, and the RTO outlook going into 2023 is a lot sunnier than you may think.

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  • Gov. Kathy Hochul and Mayor Eric Adams jointly released a new set of 40 shared proposals to promote the revitalization of NYC business districts and neighborhoods. The plan’s recommendations were guided by a panel of 59 experts (including our own founder Julie Samuels!). (Bloomberg)

    • Among the proposals: accelerate office-to-housing conversions, increase green technology investments, upgrade more transit infrastructure, and expand affordable childcare programs.

    • Get the full New New York Action Plan here.

  • With the “tri-demic” impacting growing numbers of New Yorkers, Dept. of Education officials are recommending that students and staff wear masks inside school buildings. (Chalkbeat New York)

    • Meanwhile, SUNY Purchase has reinstated its indoor mask mandate, citing high COVID-19 transmission levels that have prompted a flurry of renewed advisories in recent weeks. (NBC New York)

  • The MTA wants its 2,300 station agents to step our from their booths and roam the stations in an effort to guide people through the subway stations. Station agents will also teach riders how to use the fully digital tap-and-go payment system that will soon replace the MetroCard. (New York Times)

  • Roughly 1,200 first graders from a Brooklyn school district will see $1,000 added to their new college savings account as part of a $1 million investment from Bloomberg Philanthropies and a local foundation. (New York Daily News)

In other reading:

  • Do You Have Covid, Flu or RSV? Use this chart to trace your symptoms (New York Times)

  • You Might Actually Want to Eat at These Clubstaurants (New York Magazine)

  • Could the BQE Return to Six Lanes of Traffic? (New York Times)

Office occupancy rates in NYC have largely stagnated ever since the last notable jolt following Labor Day.

  • Last week, 47.8% of Manhattan office workers were in the office on any given weekday, according to Kastle Systems. That’s down slightly from the week prior, but the weekly percentage still has never crossed the 50% threshold.

But a notable exception has emerged: One World Trade Center has become a buzzy tech, advertising, and media office hub — and it’s actually quite busy, writes the New York Times.

  • The building is almost fully leased, at 94% occupancy, filled by workers from companies like Carta, Hyperscience, Olo, Reddit, and other NYC startups.

  • The tower’s vacancy rate is half that of the citywide average, reflecting a sustained demand for space in newer properties that boast plenty of amenities.

For earlier-stage startups with smaller footprints, co-working has made a popular comeback, especially for those with transitional or temporary office preferences while they continue exploring more permanent post-pandemic solutions.

  • At the end of summer 2022, WeWork reported that use of its spaces in the city had rebounded to pre-pandemic levels. (Bloomberg)

  • Jay Suites, another flexible office and conference room rental provider, leased another 60,000 square feet in midtown South, the largest commercial leasing deal in the entire borough last month. (Crain’s New York Business) 

Our takeaway: Entering the new year presents a natural inflection point for more companies to fortify RTO policies they’ve been experimenting with. Expect to see more decisions — like three-day mandatory minimums — enforced after the holidays.

In other reading: 

  • Dataiku, a NYC-based AI analytics platform, raised $200 million in Series F funding. Wellington Management led the round. (TechCrunch)

  • Heyday, a NYC-based skincare company, raised $12 million in Series B extension funding. Level 5 Capital Partners led the round. (AlleyWatch)

  • Nilus, a NYC-based financial operations platform, raised $8.6 million in seed funding. Bessemer Venture Partners led the round and was joined by Better Tomorrow Ventures, Symbol, and other angels. (FinSMEs)

  • Oyster, a NYC-based personal insurtech company, announced its launch from stealth with $3.6M in seed funding. New Stack Ventures and Cambrian Ventures led the round. (FinSMEs)

  • Small Door, a NYC-based membership-based chain of veterinary clinics, raised $40m in Series B funding. Participating investors include C&S Family Capital, FS, as well as insiders Toba Capital, Lerer Hippeau Ventures, Primary Venture Partners and TriplePoint Capital. (Axios)

The New York City Economic Development Corporation is accepting applications for its 2023 Founder Fellowship. A signature program of the Venture Access NYC initiative, the program works with five NYC operators — Chloe Capital, Company Ventures, Newlab, the Tech Incubator at Queens College, and Visible Hands — to support 100 diverse-led startup teams. Learn more and apply by Dec. 16 here.BX-XL, an early-stage startup accelerator program run by the Social Justice Fund and Visible Hands to support BIPOC founders, is accepting applications for its inaugural cohort. Selected founders will receive investments of up to $500,000, mentorship, company-building support, and more. Learn more and apply by Jan. 20 here.The Social Science Research Council is accepting applications for its Just Tech Fellowship. The program is open to cross-disciplinary researchers and practitioners to imagine and create more just, equitable, and representative technological futures. Selected fellows receive two-year awards of $100,000 annually, as well as seed funding for work on other collaborative projects. Learn more and apply by Jan. 30 here.

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