Tech:NYC Digest: June 7

Tech:NYC Digest: June 7

June 07, 2021 • Estimated Reading Time: 12 minutes

Monday, June 7, 2021Happy Monday! We hope you didn’t melt over the weekend. In today’s digest, events season is roaring back, why the last year’s tech boom could only have happened in NYC, and the #comebacknyc stories we love.Was this digest forwarded to you? Subscribe here.

New York has continued making progress on COVID-19 numbers — all regions across the state are below a one percent positivity rate for the first time since August 2020 — and we’re just days away from reaching the 70 percent vaccination rate widely considered to be the point at which spread of the virus has stopped.

As of today, 68.6 percent of adults in the state have received at least one dose of the vaccine, and Gov. Cuomo announced today that when the 70 percent threshold is confirmed, virtually all remaining restrictions will be officially lifted. (New York Times)

  • Specific COVID-era capacity, social distancing, disinfection, and contact tracing measures will be no more, but some mask requirements will remain in place so the state stays consistent with CDC guidance: large venues, schools, public transit, and healthcare facilities will all continue mask mandates for the time being.

Otherwise, we’re back! It’s a major milestone, and the city is wasting no time in taking advantage of it — after 15 months of cancellations and postponements, people are ready to celebrate:

  • A “mega-concert” in Central Park is in the works to celebrate the city's reopening. The show is tentatively scheduled for August 21 as a part of Mayor de Blasio’s “Homecoming Week,” and music industry icon Clive Davis is recruiting acts to perform in front of as many as 60,000 attendees. (New York Times)

  • This weekend, more than 100 florists are taking over Gansevoort Plaza in the Meatpacking District for the inaugural L.E.A.F. Festival of Flowers, a festival inspired by the European flower markets and floral shows with blooming installations across the neighborhood. (New York Times)

  • The recently-opened Little Island, a floating park in the Hudson River, is ready to welcome almost 700 spectators for a season of live music and other programming in its two amphitheaters. (TimeOut NY)

It’s the little things, too: large events to mark the city’s reopening are exciting, but the more mundane things we’ve missed from our regular routines are also coming back.

  • The MTA’s Music Under New York program that gives 350 musicians space in subway stations to perform is back, as are the everyday food trucks, ice cream vendors, gondola paddlers, and other self-made entrepreneurs celebrating the return of the “summer hustle.” (New York Times)

Needless to say, we’re excited for all of it. In many ways, it does feel like we’ve jumped a final hurdle on the pandemic, and for the remainder of 2021, we’re looking forward to making up for lost time. 

In other news: 

  • In-school mask mandates will no longer be required for public school students and staff during outdoor activities, but the requirements will stay in place for now until the CDC advises otherwise, a move that’s not expected for another few weeks. (New York Daily News)

  • Scientists are largely in agreement we’ll need booster shots for COVID-19, but when — and for which ones — is still an open question. (New York Times)

  • For decades, the future of Governors Island has eluded elected officials and developers, but as more New Yorkers take advantage of the seasonal retreat, a more year-round plan is coming into focus. (Gothamist)

The early months of the pandemic created uncertainty for New York’s tech sector, not to mention many other affected industries. Investors were taking a more cautious approach, and many startups were beginning to worry about running out of cash. 

Fast forward to today, New York tech is experiencing what can only be described as a boom. Venture deals are at record levels, the city’s largest tech employers are doubling down on office space, and companies are on a hiring frenzy. (Crain’s New York)

  • The remote era: Tech tools were relied on more than ever during the pandemic, from video conferencing for work and school, to grocery and pharmacy delivery, to telehealth appointments. New York startups sprung up to meet new consumer needs, and investors were there hand-in-hand. Between April 2020 and March 2021, $26 billion was raised across 1,500 deals, a nearly 40 percent increase from the same time the year before. 

  • The draw of the Big Apple: New York proved its position as the second-largest US technology market after Silicon Valley. It’s home to a wide-range of talents and expertise, driven in part by its historic strengths in finance, marketing, and healthcare. Charlie O’Donnell, founder of the early-stage investment firm Brooklyn Bridge Ventures boiled it down: “These are founders and workers who want to be in New York.” Recent research from Tech:NYC and Accenture bears that out, finding that about 80 percent of the employers surveyed said they expect to find the talent they need here in the city.

  • Big Tech: A turbocharged startup scene comes as the big four technology companies — Google, Apple, Amazon, and Facebook — are signing new leases and undergoing major campus developments in the city. In the last year, tech overtook finance as Manhattan’s office leasing driver. (Commercial Observer) Our research also found that New York companies outside the tech sector are seeking tech skills, specifically in cybersecurity, artificial intelligence, and cloud expertise.

Our takeaway: The parallel growth of both the city’s largest tech employers and newer startups alike is proof of good things to come. Our own Julie Samuels said: “They hire a lot of young employees, who get really great training. Some stay forever, but some leave and go work at a smaller startup or start their own company. That is how you get a really dynamic ecosystem.”

In other news:

  • Slack has a new rule for hybrid meetings: if one employee has to dial in remotely, everyone does. (Washington Post)

  • NYC is emerging from the pandemic as a hub for biotech and life sciences companies, and Bill Gates-backed c16 Biosciences Inc. will establish its HQ in NYC. (Crain’s NY)

  • Crunchbase talked to Hatzimemos / Libby Ventures Managing Partner (and Tech:NYC Leadership Council member!) Oliver Libby about how his firm makes investing in diverse founders core to its mission. (Crunchbase News)

A new survey of Crain’s NY readers found that more than half expect workers to be back in the office for most of the workweek post-pandemic, and almost 80 percent expect to return to their offices within the next year. Meanwhile, major tech companies like Salesforce expect more than half of employees will remain WFH even after the pandemic. When your office reopens, how do you expect to structure your work week? (This is a recurring question, responses help Tech:NYC track trends over time.)

  • *|SURVEY: I’ll spend most weekdays in the office|*

  • *|SURVEY: I’ll spend most weekdays WFH|*

  • *|SURVEY: I’ll split my time between the office and home equally|*

  • *|SURVEY: I’ll be in the office full-time|*

  • *|SURVEY: I’ll be WFH full-time|*

  • *|SURVEY: I'm not sure|*

  • Capchase, a New York-based provider of non-dilutive capital, raised $125 million in Series A equity and debt funding. QED Investors led, and was joined by insiders Bling Capital, ScifiVC, and Caffeinated Capital. (Crunchbase News)

  • Hungryroot, a New York-based, AI-powered grocery delivery startup, raised $40 million in Series C funding led by L Catterton. (Bloomberg)

  • Latch, a New York-based developer of keyless entry security systems, listed on the Nasdaq under the symbol $LTCH following its business combination with SPAC TS Innovation Acquisitions. (Yahoo Finance)

  • TailorMed Medical, a New York City-based provider of tech to estimate healthcare costs, raised $20 million. Providence Ventures led the round. (BusinessWire)

  • Venn, a New York and Tel Aviv-based platform and experience company focused on neighborhoods, raised $60 million in Series B funding. Group 11 led, with participation from Pitango, Hamilton Lane, and Bridges Israel. (FinSMEs)

  • June 8: Virtual: Startup CXO: Scaling Up Your Company’s Critical Functions and Teams, with Bolster co-founder and CEO Matt Blumberg. Hosted by Betaworks Studios. Register here.

  • June 9: The New Seed Strategy: Nomenclature, Check Sizes, and Does it Even Matter, with Lerer Hippeau partner Andrea Hippeau, Eniac Ventures general partner Nihal Mehta, Cowboy Ventures principal Jillian Williams, and Brooklyn Bridge Ventures partner Charlie O’Donnell. Register here.

  • June 9: Virtual: Machines + Media 2021: Facing the Future, with Tech:NYC founder and executive director Julie Samuels, Primary Venture Partners co-founder Ben Sun, NYCEDC Senior Vice President of Tech Karen Bhatia, and more. Hosted by NYC Media Lab and Bloomberg. Register here.

  • June 10: Virtual: Rebuilding and Revitalizing NYC’s Businesses and Workforce, with NYC Deputy CTO Alexis Wichowski, Cornell Tech’s Urban Technology Hub founding director Michael Samuelian, Bronx Community Foundation co-founder Derrick Lewis, and Company Ventures’ Urban Tech Hub executive director Robinson Hernandez. Register here.

  • June 10: Virtual: NYC’s Comeback: Attracting Back Remote Workers, with Union Square Hospitality Group CEO Danny Meyer, Partnership for New York City CEO Kathryn Wylde, Regional Plan Association CEO Tom Wright, and Manhattan Chamber of Commerce CEO Jessica Walker. Register here.

Humans of New York, the photoblog of street portraits and interviews you know and love, is doing a great series on NYC’s comeback.

 of the absolutely wonderful, if poignant, entries.

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