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Industry News

NYC sinks $300,000 into tech startup

CNN Money - May 26, 2010

New York City’s Mayor Michael Bloomberg recently appeared at the TechCrunch Disrupt conference in New York to announce the first investment by the city’s newly formed Entrepreneurial Fund. The fund has $22 million at its disposal and has partnered with FirstMark Capital which plans to put up to $19 million more into the fund.

Bloomberg promoted New York as a city that embraces entrepreneurs, especially in the technology space.

“If you have an idea, New York City is the city for you … In New York City, we understand that innovation drives economic growth. We’re nurturing information technology.”

CNN Money: NYC sinks $300,000 into tech startup