Tech:NYC Digest: March 10

Tech:NYC Digest: March 10

March 10, 2022 • Estimated Reading Time: 8 minutes

Thursday, March 10, 2022 

In today’s digest, Mayor Adams unveils his economic recovery blueprint, pharmacies prepare for new test-to-treat program, and why mental health support should be a part of your return-to-office strategy.

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By the numbers:  

  • New positive cases statewide: 1,850

    • New positive cases, NYC: 883

  • NYC Positivity Rate: 1.0 percent (no change)

  • NYC Hospitalizations: 413 (-53)

  • Statewide Vaccine Progress: 

    • New Yorkers with at least one dose: 89.2 percent

    • New Yorkers who are fully vaccinated: 75.8 percent

In today’s latest:

  • Mayor Eric Adams has outlined a blueprint to accelerate the city’s recovery and build a more resilient economy. (amNY) You can get the full plan here. The plan rests on five key pillars:

    • Restarting the city’s economic engines and getting New Yorkers back to the office

    • Supporting small businesses, entrepreneurship, and a more inclusive economy

    • Driving inclusive sector growth and building a future-focused economy

    • Connecting New Yorkers to quality jobs and in-demand skills

    • Planning and building for inclusive growth now and in the future

  • Congressional Democrats on Wednesday stripped a $15.6 billion emergency pandemic aid package from a broader spending bill amid disputes over how to cover the cost. The move complicates Pres. Biden’s plan to address “urgent needs” in his pandemic response and prepare for future coronavirus variants. (New York Times)

  • The rollout of the US government’s COVID-19 test-to-treat program is underway, with in-pharmacy clinics ordering shipments of antiviral medications and some locations expecting to offer the service within days. (CNN)

  • While the city ended its requirement that restaurants ask indoor diners for proof of vaccination, owners can decide whether to continue those requests. And some restaurants are not ready to let go of the safety measure, with one even drawing protesters. (New York Times)

In other reading:

  • Cities and States Are Easing COVID Rules. Should the Arts Follow? (New York Times)

  • We Will Forget Much of the Pandemic. That’s A Good Thing. (New York Times)

Working might be challenging when you're not in the appropriate frame of mind. 

  • Tech executives are fielding concerns from their employees in a lot of directions right now: return-to-office transitions, the crisis in Ukraine, and the fear of future surges of coronavirus. And employers themselves are experiencing the stress of recruiting and retaining talent in a tight labor market.

Workers have been on heightened alert since the beginning of the pandemic, putting mental health front and center as an issue employers are expected to help address.

  • “The amount of uncertainty and just psychological pain in our lives was overwhelming for a lot of people,” David Rock, co-founder and CEO of the NeuroLeadership Institute, told told Protocol. 

NeuroLeadership Institute advises a number of tech companies and their executives to improve their people practices from a neuroscience perspective, and Rock says companies need to rethink their role in supporting the mental health of their employees, which means listening to their concerns more seriously and showing a greater level of care, consideration, and thoughtfulness.

  • Rock suggests increasing all-hands meetings where everyone's on camera, as well as one-on-one check-ins, to make people feel more connected and fight feelings of isolation.

But first, employers must create an organizational culture that destigmatizes mental health issues and encourages seeking support. (Fast Company)

  • This requires leaders to demonstrate the same level of concern and support for their team's mental and physical health. When employees speak up, they shouldn't simply be given words of support and then left to resolve their issues independently. (Forbes)

Our takeaway: Employees are expecting more support around mental health, and if they ant to retain top talent, employers must respond. Changing the culture of any organization takes commitment, strategy, and prolonged effort, but leaders must approach conversations about mental health with compassion and empathy.

In other reading:

  • A Two-Year, 50-Million-Person Experiment in Changing How We Work (New York Times)

  • Why Is Workplace Technology So Much Harder to Use Than Personal Technology? (Wall Street Journal)

  • A24, a NYC-based independent entertainment and distribution studio, raised $225 million in equity funding. Stripes led the round and was joined by Neuberger Berman. (Deadline)

  • Alfred, a NYC-based software provider for residential real estate, raised $125 million in new funding. Rialto Capital led the funding round, with participation from NEA, 166 2nd Financial Services, Holland Management and others. (The Real Deal)

  • DataRails, a NYC-based financial planning and analysis platform for Excel users, raised $50 million in Series B funding. Qumra Capital led the round and was joined by La Maison Partners and ClalTech, as well as existing investors Zeev Ventures, Vertex Ventures Israel, Innovation Endeavors, Joey Low, Vintage Investment Partners, Oryzn Capital, and Icon Ventures. (TechCrunch)

  • Noula Health, a NYC-based reproductive support startup, raised $1.4 million in pre-seed funding. Muse Capital and Precursor Ventures co-led the round. (Axios)

  • Upstream, a NYC-based no-code DAO platform, raised $12.5 million in Series A funding from Tiger Global, Ibex Partners, Vayner Fund, Fenbushi Capital, Panoramic Ventures, Alpaca VC, Human Ventures, Blumberg Capital and The Medici Group. (Forbes)

  • March 10: In-person: NYC Recovery Challenge Closing Ceremony, with the founders of the Challenge’s inaugural cohort, plus city and industry leaders. Hosted by Tech:NYC, Google for Startups, and Cornell Tech. Register here.

  • March 17: Virtual: Caregiving: the new DEI lens for your family benefits strategy, with DocuSign senior director of global benefits Ellen Meza and Maven VP of People Karsten Vagner. Hosted by Maven. Register here.

  • March 21: Virtual: #newtovc: Developing Your Fund Thesis, with Union Square Ventures partner Brad Burnham and Brooklyn Bridge Ventures founder Charlie O’Donnell. Hosted by Brooklyn Bridge Ventures. Register here.

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