Tech:NYC Digest: June 15

Tech:NYC Digest: June 15

June 15, 2023 • Estimated Reading Time: 7 minutes

Thursday, June 15, 2023

In today’s digest, sizing up the city’s tech ecosystem, e-scooter sharing expands, Summer for the City, and the return of a dreaded pest.

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  • With wildfires still raging in Canada, smog could return to the city in the next couple of days—though not as bad as last week. (New York Post)

    • Just how bad was last week's air quality? If an average adult spent an 8-hour work shift outdoors in Bushwick on June 7—the day the skies turned orange—they were exposed to the equivalent of smoking 30 cigarettes. (Gothamist)

  • A NYC Department of Transportation e-scooter sharing program that started in the Bronx nearly two years ago will expand into eastern Queens next year. More than 115,400 scooter rental accounts have been created since the launch of the program in the Bronx in the summer of 2021 with more than two million rides recorded. (Daily News)

    • The city is also lifting its ban on e-bikes and scooters in parks and greenways as part of a yearlong pilot starting June 20. (amNewYork) 

  • A new bill from Sen. Kirsten Gillibrand hopes to address ageism in the workplace by barring clauses that require workers to settle age discrimination accusations through arbitration. (NY1)

In other reading:

  • New grads pursuing a TikTok lifestyle are defying the city’s surging rent prices (Bloomberg) 

  • Lincoln Center's “Summer for the City” festival is back through August 12 with hundreds of free events (Time Out)   

  • It is once again spotted lanternfly squashing season (The New York Times)

New York City hosts the second strongest tech hub in the world, according to a new ranking, which found the city’s local industry generated $647 billion in economic value from July 2020 to the end of last year. The ranking from Startup Genome, released Thursday, analyzed just under 300 global tech ecosystems, including by using data provided by Tech:NYC and the city Economic Development Corp.Here a few takeaways:

  • This is the third year that New York tied with London for the second most valuable tech ecosystem, trailing only Silicon Valley. 

  • Top Silicon Valley VC firms are flocking here, as highlighted in the report. In the past 18 months, top firms such as Index Ventures and Sequoia Capital announced New York offices.

  • New York is a hub for artificial intelligence, life sciences and climate tech startups. 

Even in a tough year for tech-industry financing, the report found that the city added 37 new startup unicorns — private companies valued at $1 billion or more — and saw a 42% rise in exits above $1 billion since Startup Genome published last year's edition, which crunched numbers up to December 2021.Our take: We’re biased, but… If Startup Genome added criteria around food, culture, and style, we’re confident we’d be #1. Maybe next year.Startup Genome's full report is available here.In other reading:

  • Workers Resisting the Office Grind Are Suddenly Lonely at Home (Bloomberg)

  • How sensors could help catch wildfires before they spread (Washington Post) 

  • Latest labor board ruling broadens who’s considered an employee — for now (Marketplace)

  • Medivis, a NYC-based augmented reality surgery platform, raised $20 million in Series A funding. The round was led by Thrive Capital, which was joined by Initialized Capital, Mayo Clinic, 35V, Bob Iger and other angels.

  • UNCAGED Innovations, a New York-based sustainable leather alternatives company, raised $2 million in pre-seed funding. InMotion Ventures, VegInvest, Stray Dog Capital, Alwyn Capital, Hack Capital, and GlassWalls Syndicate invested in the round.

  • HELIXintel, a Buffalo, N.Y.-based building management, predictive analytics, and equipment management solutions platform, raised $11 million in Series A funding. National Grid Partners led the round and was joined by Munich Re Ventures, Stellifi, Motivate Ventures, among others.

  • June 20: In-person: LGBT+ VC Summit: From Stonewall to Silicon Valley, featuring keynote speaker David Karp, founder and former CEO of Tumblr. Register here.

  • June 20: In-person: Future-Proofing Your Digital Product and Brand with AI, Innovatemap principals Jon Moore and Meghan Pfeifer. Register here.

  • June 20: In-person: Supporting Founder Diversity, with Juno Medical CEO Akili Hinson and Canela Media CEO Isabel Rafferty. Hosted by Company Ventures. Register here.

  • June 21: In-person: FirstGen's Immigrant Founder Appreciation Happy Hour to celebrate Immigrant Heritage Month. Register here.

  • June 26: Virtual: #notapitch: Unofficial Feedback on Your Idea/Prototype from a VC, with Brooklyn Bridge Ventures partner Charlie O’Donnell. Register here.

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