Silicon Alley is a new entry point to the US market! No, no spelling mistake in the previous statement. There is the Valley and there is the…Alley. The former, in California, is seen as the birthplace of tech entrepreneurship and remains a preferred destination - with the Boston area - for start-up entrepreneurs in the quest of the next big venture. The latter, in downtown Manhattan, was recently featured in the headlines for catalyzing success stories like Tumblr or Foursquare and appears as a new Eldorado for start-ups looking to leverage the unique creative vibe of the greater New York area.
To enable promising Swiss start-ups access to the abundant resources of Silicon Alley and to complement the services available in Boston and San Francisco, CTI Startup was approached by the director of swissnex Boston to establish a new antenna of the CTI Entry Camp in the US. The CTI desk in New York City is part of the new outpost of swissnex Boston that opened in New York City in August 2013. With this new satellite office, swissnex Boston will extend its reach to the New York area to pursue its mission to support the internationalization efforts of Swiss tech companies and universities in North America.
What is so unique about the New York City Tech scene?
New York has always been among the most innovative cities in the world. Besides financial services, its economy rests on creativity-driven industries, like advertising, media, fashion and design. The transition to the digital economy has revitalized those historically strong sectors and empowered a new generation of entrepreneurs in the fields of digital media, e-commerce and consumer web. The success of advertising platform DoubleClick (sold to Google in 2007) or the e-commerce website Gilt Group has marked the emergence Silicon Alley heavyweights.
New York is still dominated by the financial sector. But Wall Street has also had a positive impact on the tech ecosystem. Since the computerization of trading in the 1980’s, the sector has been a driver for innovation in information technology. Among a plethora of accelerator programs and co-working spaces, the city hosts an incubator dedicated to start-ups active in the financial services. Additionally, out of the massive cash circulation in Manhattan, more and more money is allocated to seed investments or venture capital by private or corporate investors looking for alternatives to market finance. Since the crisis of 2008, the amount of VC deals in NYC has increased by 32% and is among the top three in the US. Access to funding is a strong argument for New York in its efforts to lure innovative companies.
Leveraging all of these contributing factors, New York is one of the most cosmopolitan agglomerations in the world. It’s a sample of the world market and having your product validated by consumers in NYC is a promising step toward going global.
What swissnex and CTI can do for you in New York City?
Run by the New York Outpost of swissnex Boston, the CTI Market Entry Camp in New York City will offer CTI Startups the following services:
- Co-working office space in the heart of Manhattan for up to 3-months
- Customized workshops with innovation practitioners of Silicon Alley
- Mentoring and coaching sessions with local experts
- Networking events and relevant connections in order to optimize your business development
- Travel and housing stipend
Contact the assigned CTI Start-Up case Coach / Company Partner
- Application is reviewed by a board composed of representatives from our US partners, CTI, and swissnex (Boston, San Francisco and New York
- Acceptance is based on defined thresholds for quality, maturity, and fit for the US market
In addition, the CTI Market Entry Camp USA and the New York Outpost of swissnex Boston will be launching their own websites in the coming weeks, so stay tuned!
If you are a non-CTI Start-up, but have interest in coming to New York City for your business development activities, contact firstname.lastname@example.org to inquire about the services available.