5: INDUSTRY

Other Information:

As venture capitalist Fred Wilson remarked at the opening of the Academy for Software Engineering, "There has never been a more exciting time in New York City tech." New York City is where the best and brightest come to launch their world-changing ideas. The past year has seen unprecedented growth in New York City's technology scene, with momentum bolstered by groundbreaking announcements of long-term investment in the City's future. New York City continues to surpass Boston as the top venture-funded area in the country after Silicon Valley. In addition, a recent Center for Urban Future study found that New York City was the only region in America to see a dramatic 32% increase in venture funding from 2007 - 2011, while all other regions surveyed, including Silicon Valley and Boston, experienced decreases. Today, New York City Economic Development Corporation programs such as the NYC Tech Talent Draft, NYC Next Idea and NYC Venture Fellows continue to attract more engineers and entrepreneurs to make New York City their base. Mayoral visits to the growing New York City o²ces of technology companies including Etsy, Facebook, Foursquare, Tumblr and Twitter demonstrate the administration's commitment to supporting these pioneers and shining a light on their achievements. And new initiatives such as the digital expansion of youth employment programs are poised to increase diversity in the sector. Finally, this year New York became the nation's first city to apply for its own top-level domain, .nyc, a bold step toward embracing New York City's digital future. Next Steps for Industry -- PROGRAM OVERVIEW: In April 2012, the City of New York convened its first Youth Employment Symposium with the aim of connecting New York City's technology industry with public programs that provide employment and professional development to tens of thousands of young New Yorkers. Hosted by NYC Digital and the Mayor's Fund to Advance New York City, the technology community responded with strong interest in civic partnerships to support diversity, and early sector commitments include involvement from Buddy Media, Facebook, Huge, Shapeways and others. To build on the positive response to the Symposium, NYC Digital and the Mayor's Fund to Advance New York City will introduce a new initiative that seeks to realize the City's technology potential, primarily through two programs: - Diversity and Workforce Development: Increase diversity in the technology sector through professional placement and development programs for minorities and women. - Innovation Pipeline: Match students and volunteers with digital projects at no cost to taxpayers. Increasing Diversity The program will begin by placing the inaugural class of minority and female students in jobs at technology companies. In addition to work opportunities, the students will attend courses at partnering technology companies and education institutions to learn HTML and CSS. In total, the program aims to place 100 students by the end of 2013. Adopt-an-App Innovation Pipeline: Matching Private and Academic Sectors with Civic Projects The new initiative will introduce a digital project matching program, partnering with the private sector as well as academic. Students in the program will complete one technology or design class, where they will develop and launch a new project in partnership with a City entity over the course of a semester. The success of the City's apps wish-list, first piloted during the Reinvent Green hackathon, will serve as a model for Innovation Pipeline in matching civic volunteers with existing City needs. NYC Generation Tech In addition, the New York City Economic Development Corporation is developing several groundbreaking technology programs that seek to train New York City's workforce and students. One of the pilot programs, NYC Generation Tech, which launched in summer 2012 and will include opportunities for students to build mobile apps, learn about the fundamentals of entrepreneurship, participate in a business plan competition and receive mentorship from NYC tech firms.

Stakeholder(s):

• Economist Intelligence Unit: In March 2012, New York City was named the most economically competitive city in the world by the Economist Intelligence Unit. The distinction is a testament to the policies and focus of Mayor Bloomberg, and one that the administration knows must never be taken for granted. To maintain the City's competitiveness, the administration is committed to supporting the future of New York City's schools, economy and infrastructure with a significant expansion of the City's Digital Roadmap. New York City's powerful strides have established a strong foundation for this future achievement. The following initiatives in the areas of access, education, open government, engagement and industry will accelerate the momentum of the City's digital initiatives.

Objective(s):

5.1: Workforce Development

5.2: Technology Startup Infrastructure

5.3: Small Businesses

5.3.1: Government Requirements

5.3.2: Applications & Payments

5.3.3: Status Checking

5.4: Recruitment

5.5: Events & Awards

5.6: .NYC Domain

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