New York is positioning itself as a significant tech hub, attracting startups and talent from around the country. The city is increasingly viewed as a destination for tech company maturation, vying for dominance with Silicon Valley. Governor Kathy Hochul has launched a $40 million Empire AI program to boost artificial intelligence research. Despite California leading in venture capital funding, with significant investments in the first quarter of 2025, New York is experiencing growth as venture capital firms expand their presence in the city.
New York, a bona fide destination for tech companies, is further catching up to San Francisco as a tech hub as the importance of having an East Coast presence grows.
The state isn't just counting on this happening; it's actively funding the effort. New York Gov. Kathy Hochul has spearheaded a $40 million Empire AI program to supercharge artificial intelligence research in the state.
California still beats NY for funding. In the first quarter of 2025, the Bay Area boasted 658 VC deals totaling $58.7 billion, compared with 441 deals totaling $7.1 billion in New York City.
We were really fortunate to have some New York-based investors, but fundraising as an exercise was always one that felt we had to do mostly on the West Coast.
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