Tech:NYC Digest: February 15

Tech:NYC Digest: February 15

February 15, 2023 • Estimated Reading Time: 7 minutes

Wednesday, February 15, 2023

In today’s digest, NYC makes a pitch for its share of the state budget, 100 tech teams are unveiled as the city’s new “Founder Fellows,” and the issues executives should watch to avoid worker attrition in 2023.

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  • It’s “Tin Cup Day” in New York, an annual pilgrimage of mayors across the state to Albany to make the case for State-allocated funding on issues in their cities. Here’s an overview of the requests on Mayor Eric Adams' agenda.

  • NYC announced a new cohort of 100 entrepreneurs named to its Founder Fellowship, a $1.5 million investment in tech founders from historically underrepresented backgrounds. (Crain’s New York Business) See the full list of startup founders here.

  • For the bikers and pedestrians uptown: say goodbye to those infamous 171 steps on the George Washington Bridge overpass, say hello to the much wider, safer Northwalk Pathway. 

In other reading:

  • How every borough president plans to tackle the city’s housing crisis (Crain’s New York Business)

  • Where Should the COVID-Conscious Dine? It’s All About Risk. (New York Times)

  • How a color-coding system changed NYC’s subway map forever (Gothamist)

Here’s a workplace trend we’re putting into our rotation of areas to watch: Even as the pandemic may be waning, worker burnout is higher than ever. (Axios)

The latest: Of more than 10,000 full-time desk-based workers, 42% reported burnout at the end of last year, the highest reading since Future Forum began polling the issue in May 2021.

  • Women (46%) are more likely than men (37%), and workers under 30 (48%) are more likely than older workers (40%), to say they’re burned out.

We sound like a broken record, but: Workplace satisfaction still hinges on flexibility.

  • Employees dissatisfied with their level of work flexibility are 43% more likely to say they feel burned out than satisfied colleagues, according to the study.

  • While nearly all (93%) surveyed workers want flexibility in their schedules, most (56%) say they have little ability to adjust their hours.

What we’re watching: If executives and employees can get on the same page for a sustainable hybrid work model. Flexible work options obviously play a role in preventing burnout, which obviously prevents a spike in worker attrition and turnover. 

In other reading:

  • CEOs Think More Office Mandates Will Improve Company Culture. Here's What the Newest Data Says. (Forbes)

  • In An Uncertain Job Market, How Can Companies Retain Workers? (New York Times)

  • What this tech company learned from canceling meeting for a month (Fast Company)

MEMBER EVENT: Tech:NYC is hosting a special, members-only virtual briefing and conversation with Zach Iscol, Commissioner of the NYC Emergency Management Department, on Feb. 21. Commissioner Iscol has been leading the city’s response to the ongoing migrant crisis, and the tech community is getting involved to rally resources that welcome asylum seekers as permanent New Yorkers.Employees of all levels welcome: If you work at a Tech:NYC member company and would like to join, send us a note here and we’ll pass along the Zoom details.

  • Comun, a NYC-based banking solutions provider for Latino families, raised $4.5 million in seed funding. Costanoa Ventures led the round and was joined by South Park Commons and FJ Labs.

  • ModernFi, a NYC-based marketplace for banks to exchange deposits, raised $4.5 million in seed funding. Andreessen Horowitz led the round.

  • Smartrr, a NYC-based customer experience management startup for subscription e-commerce, raised $10 million in Series A funding. Canvas Ventures led the round and was joined by Expa and Nyca.

  • Twentyeight Health, a Brooklyn-based reproductive and sexual health startup for women, raised $8.3 million in pre-Series A funding. Participating investors include RH Capital, Seae Ventures, Impact Engine, Acumen America, Stardust Equity, as well as insiders SteelSky Ventures, Third Prime, and Town Hall Ventures.

  • February 16: In-person: PrimeTime VC Live, with VSC Ventures general partner Jay Kapoor, m]x[v Capital founding principal Jay Estefani Castillo, irrvrntVC general partner Andrew Gluck, and others. Hosted by Barclays Rise New York. Register here.

  • February 21: Virtual: #notapitch: Unofficial Feedback on your Idea/Prototype from Brooklyn Bridge Ventures founding partner Charlie O’Donnell. Register here.

  • February 21: Virtual: Future Enterprise Software Founders AMA, with Work-Bench co-founder and general partner Jonathan Lehr. Register here.

  • February 23: In-person: Cornell Tech @ Bloomberg speaker series, with Esusu co-founder and co-CEO Wemimo Abbey. Hosted by Tech:NYC, Bloomberg, and Cornell Tech. Register here.

  • February 28: In-person and virtual: #newtovc: Goal-Setting for Next Rounds, with General Catalyst managing director Niko Bonatsos, Left Lane Capital vice president Laura Sillman, and 3L partner Jodi Kessler. Hosted by Brooklyn Bridge Ventures. Register here.

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