According to your votes, New York is one of the Top 10 Cities for Young Entrepreneurs. This is true for many reasons, and I’d like to share the top 5 reasons why New York is great for young entrepreneurs with Instagram photos to prove it!
1. THE PEOPLE: Any environment, whether an organization, a company, or a city, boils down to the people that consist it. Many smart, ambitious young people come to New York to become the best. New York is where you’ll find other thriving entrepreneurs who are hard-working and inspirational. It’s a great feeling to be inspired by fellow young entrepreneurs, have opportunities to help one another and create collaborative relationships. Also, there are always new people moving to New York each year, which means endless cycles of new ideas and new information replenishing New York entrepreneurial minds.
To give an idea, here is a list of companies founded by New York entrepreneurs.
[Entrepreneurs through Instagram: Clay Hebert @Spindows; Jonah Peretti, CEO @Buzzfeed; Aaron Rudenstine, Co-founder @CityMaps; Persia Tatar, Founder Social Media Society; Matt Bishop, Founder @iGiveMore; Rob Caucci, C0-founder @_Splitter]
2. THE EVENTS: The ample startup and tech events in New York are what bring the people together. Just last Thursday was NY Tech Day, over 200 startups exhibited and shared space with several VCs in the Lexington Armory. Other yearly events taken place in New York include Social Media Week, Entrepreneur Week, Startup Weekend where it’s “No Talk, All Action” to launch a startup in 54 Hours. Many organizations host events for young entrepreneurs including Ultra Light Startups, hundreds of Meetup groups where entrepreneurs can practice pitches, listen to investors’ feedback and network with like-minded people in the scene. Meetup groups that focus on these formats include: NY Entrepreneurs Business Network, NY Tech Meetup, Startup Grind, etc. just to list a few.
Here is a curated calendar of events for young entrepreneurs in New York.
[Events through Instagram: NY Tech Day; Women in Tech Leadership Event; 212 Social; DaniWeb Social Media Week poker mixer]
3. THE CAPITAL: Another reason why New York is a top city for young entrepreneurs is the access to investors and incubation resources. Since New York officially replaced Boston as the #2 tech hub in 2011, more and more venture capital funding is finding its way to New York. According to Thomson Reuters and the National Venture Capital Association (NVCA), 42 U.S. venture capital funds raised $4.9 billion in the first quarter of 2012. To some entrepreneurs, the idea of approaching VCs or any kind of investors may be intimidating. Here in New York, there are so many opportunities to meet them in social settings that dials down the intimidation factor dramatically. For example, I was at a Women in Media (Wimlink) event this month, and the moderator of the event was Yao Hui Huang, Founder of The Hatchery. She talked to everyone at the event and was happy to keep in touch and help those who reached out to her even after the event.
Here are 11 NY incubators and accelerators for entrepreneurs to check out.
[Instagram Photos: Trophies from NY Tech Day; New York city from Ink 48 rooftop]
4. THE RESOURCES: We know space is tight in New York and renting an office space all to yourself may not always be the best option for young entrepreneurs. This is why there are lots of co-working and shared spaces in the city. These co-working spaces provide desks, conference rooms, and a collaborative environment for entrepreneurs to work in. Some of these spaces also provide classes that include topics on running successful companies and getting venture backing. I’ve attended speaker events at WeWork, Dogpatch Labs, and WixLounge.
[Co-working spaces through Instagram: Dogpatch Labs; WeWork Lounge]
5. THE KNOWLEDGE: Aside from the people and events that make New York an exciting place for young entrepreneurs, there are also plenty of classes and seminars offered in the city to further enrich your knowledge in building successful businesses. Social Media Society provides education and speaker series showcasing the best practices in Social Media. 212NYC provides activities and speakers to educate entrepreneurs how to best market and advertise your companies. And of course, there is Skillshare and General Assembly, your trust-worthy sources of classes for technology, design, and entrepreneurship.