Tech:NYC Digest: October 5

Tech:NYC Digest: October 5

October 05, 2023 • Estimated Reading Time: 6 minutes

Thursday, October 5, 2023

Happy Thursday – we’re fresh out of the first meeting of our expanded Board! In today’s digest, tracking NYC’s housing development goals, Manhattan’s new beach is already a hit, and the startup partnership to encourage EV adoption in historically disadvantaged neighborhoods.

Was this digest forwarded to you? Subscribe here.

  • A new NYC Council bill proposed today would remove all time limits for asylum-seekers and others staying in New York City's homeless shelters. (Gothamist) A 60-day time limit was imposed in July and last month was reduced it to 30 days, to help relieve the city’s overwhelmed shelter system.

  • A new report found that NYC is on pace to produce just 10,000 new housing units this year, far fewer than the 50,000 the city would need per year to meet the Adams administration goal of half a million new units in the next decade. (Crain’s New York)

In other reading:

  • Should We Turn NYC’s Empty Offices into Dorms for Zoomers? (New York Times)

  • Maybe Manhattan Needed A Beach (Curbed)

  • The Fine Dining Restaurant Opening in a Midtown Subway Station (Eater NY)

A new partnership being launched by Revel and Dollaride (two great homegrown startups and two Tech:NYC members!) is aiming to encourage EV adoption in historically disadvantaged neighborhoods and create more demand for charging.

EVs are not a luxury item, but charging access still is, write Revel CEO Frank Reig and Dollaride CEO Su Sanni in a new op-ed.

  • EVs will remain out of reach, no matter how affordable they become, if drivers lack access to reliable charging, which is true in much of the Bronx, Upper Manhattan, Queen,  and Brooklyn.

  • Particularly bad are transit deserts where New Yorkers rely on personal cars or commuter vans to get around, a problem Sanni founded Dollaride to help solve.

The project: Dollaride is deploying more than $20 million in partnership with the New York State Research and Development Authority, Elemental Excelerator, and other project investors to help commuter van drivers procure EVs.

  • In parallel, Revel is expanding to over 300 chargers across the South Bronx, Maspeth, Harlem, Red Hook and more.

“This partnership provides a clear pathway for commuter van drivers to not just get an EV, but know they can operate it successfully,” they say.

In other reading:

  • Does AI’s Present Matter More than Its Imagined Future? (The Atlantic)

  • Don’t Expect the Same Pay Raise You Got Last Year (Bloomberg)

  • These are the most passive-aggressive phrases in emails (Fast Company)

  • Headway, a NYC-based behavioral therapist network, raised $125 million in Series C funding. Spark Capital led the round and was joined by Thrive Capital, Accel, Andreessen Horowitz, and Health Care Service Corp.

  • Lokavant, a NYC-based pharmaceutical trial management startup, raised $8 million in extended Series A funding. Participating inventors include Mitsui & Co, Edison Partners and Roivant Sciences.

  • Prophetic, a NYC-based startup building a device to induce and stabilize lucid dreams, raised $1.1 million in pre-seed funding. BoxGroup led the round and was joined by O’Shaughnessy Ventures, a16z’s Scout Fund, Spacecadet, Tekin Salimi, and others.

The Veterans Entrepreneurship Program is accepting applications for its next cohort. The program awards up to 10 veteran entrepreneurs with $20,000 grants and enrollment in the NYC Dept. of Small Business Services support program. Learn more and apply by October 6 here.NYC Economic Development Corporation is accepting applications for its NYC Catalyst Fund. The program invites fund managers operating in three impact areas — diverse entrepreneurship, community development, and/or emerging sectors — to submit proposals for investments between $1M and $7M. Learn more and apply by November 1 here.Techstars NYC is accepting applications for their spring 2024 cohort. Accepted companies receive an initial investment of up to $120,000, plus office space, accounting and legal support, and access to the global Techstars network. Learn more and apply by November 29 here.

Any feedback or suggestions of things to add? Get in touch here. Was this digest forwarded to you? Sign up to receive it directly here.