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- Tech:NYC Digest: October 16
Tech:NYC Digest: October 16
Tech:NYC Digest: October 16
Monday, October 16, 2023
Happy New York Tech Week! We’ll be highlighting a lot of Tech Week happenings all week, and now, we’re off to celebrate the end of the first day with a16z and hundreds of other tech friends! 🗽
In today’s digest, NYC’s new AI roadmap, IBM’s investment in local AI research, and what NYC tech leaders are saying about the first day of #NYTechWeek.
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Today, Mayor Eric Adams and NYC CTO Matt Fraser released a comprehensive plan for how it plans to responsibly use AI in NYC government. (Bloomberg)
Among the planned uses are to streamline the MyCity portal to connect New Yorkers with a wide array of city services, including business permits and child care resources, for example. It will also pilot the use of the first citywide AI chatbot.
The plan outlines 37 key actions for responsible use of AI. Learn more about the full plan here.
In additional AI news: Gov. Kathy Hochul announced a joint $20 million investment and collaboration with IBM (a Tech:NYC member!) and the University of Albany to support a new AI Research Group at SUNY that will capitalize on existing AI investments in the state to expand AI-related research, policy, and workforce development goals.
A years-long project to turn a massive landfill on Staten Island into a public park hit its first milestone: opening the first 21-acre section to the public. (NBC New York)
In other reading:
It’s the first day of the biggest “Tech Week” to date. After organizing similar efforts in San Francisco and Los Angeles, a16z brought the idea to New York, and 400+ events later, the strength of the ecosystem couldn’t be more obvious.
Nihal Mehta, founding partner of Eniac Ventures, took 15 investor feedback meetings at the Founder House that Tech:NYC launched for the week. Not long after, he reported back to us:
“Heading to my third NY Tech Week event of the day and it's unlike anything I've seen living in NYC for 18 years – the enthusiasm of not just the NYC tech ecosystem, but everyone around the world super curious to check it out firsthand this week – that’s what’s truly incredible. Pace yourself everyone! (Note to self.)”
For background: Tech:NYC kicked off a special edition of the Founder House to welcome 50 early-stage founders to join us at our special #NYTechWeek hub to make sure they run into a roster of investors, industry experts, and most importantly, each other.
Alongside the founders, other guests spotted at Founder House today: NYC Council Member Erik Bottcher, NYCEDC vice president Daria Siegel, Innovatemap’s NYC office lead Meghan Pfeifer Corsello, and many others.
The big picture: As a16z general partner David Haber told Bloomberg this morning, startup founders are finding more and more reason to put boots on the ground in New York:
“Opportunities live between fields of expertise, and that’s a metaphor for New York City," he said. "Technology has a tendency of cutting across industries; the companies that represent New York best are those that live at the intersection of technology and the large incumbent industries that exist here in New York – media, advertising, fashion, financial services.”
a16z itself has grown in New York: With 80+ employees now based in NYC, it’s among the largest venture teams in the city.
One topic on everyone’s mind: Fundraising, fundraising, fundraising. But the bottom line, according to Haber: “While the markets are challenging, there’s plenty of capital for entrepreneurs starting new companies here.”
By the way: If you’re using #NYTechWeek to land job interviews, the Tech:NYC Jobs Board has more than 4,800 open roles ready for the taking!
Aclid, a NYC-based platform that automates security and compliance for biotechnology companies, raised $3.3 million in seed funding. Participating investors include 2048 Ventures and IA Ventures.
Capital Rx, a NYC-based pharmacy benefit manager and pharmacy benefit administrator, raised $50 million in new funding. Participating investors include the Atlantic Health System, Banner Health, Hawai'i Pacific Health, Inova Health System, Lehigh Valley Health Network, Memorial Hermann Health System, Nebraska Medicine, Novant Health, Ochsner Health, WellSpan Health, and Transformation Capital.
ergo, a NYC-based browser plugin that allows consumers to make offers on goods, raised $1.5 million in pre-seed funding. Participating investors include Anthemis and Wischoff Ventures.
Hook, a NYC-based music remix and remake platform, raised $3m in seed funding. Waverley Capital led the round and was joined by Three Six Zero and Japan's Avex.
Scope3, a NYC-based emissions monitor and provider of emissions reduction solutions for advertising companies, raised $20 million in Series B funding. GV led the round and was joined by Room40 Ventures and Venrock.
October 17: #NYTechWeek Networking Social, hosted at the Tech:NYC Founder House with WeWork. Register here.
October 17: #NYTechWeek: Pre-Seed Founders & Funders Mixer, with Primary and Techstars. Register here.
October 18: In-person: NY Enterprise Tech Meetup, with Grafana Labs COO Doug Hanna, Vercel VP of Product Jared Palmer, and Apollo senior director of develop experience Peggy Rayzis. Hosted by Work-Bench. Register here.
October 19: State of Compensation: Major Shifts in 2023, with Carta head of insights Peter Walker, Assembly co-CEO Lisa Wallace, and others. Hosted by Carta. Register here.
October 21: #NYTech Week: NYC’s Road to Electrification, with Revel CEO Frank Reig, Con Edison director of e-mobility Britt Reichborn-Kjennerud, NYC Taxi & Limousine Commission first deputy commissioner Ryan Wantajja, and Joint Office of Energy & Transportation senior advisor Kevin Miller. Hosted by Revel and Tech:NYC. Register here
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