Already a center of commerce and trade, New York City currently boasts one of the healthiest and most vibrant startup ecosystems in the world, according 2012 report from Telefonica, Startup Genome, and partners. CB Insights, which releases the New York Venture Capital Almanac, reports that more than $8 billion went into 1,205 deals over the last 3 years in this ecosystem alone. The report, which was compiled based on data from 50,000 users and ranks startup ecosystems in categories such as startup output, funding, performance, talent, support, mindset, trendsetter, and differentiation from Silicon Valley, places the New York City startup community 5th in the world behind not only the aforementioned Silicon Valley, but also Tel-Aviv, Los Angeles, and Seattle. One of the most significant findings of the report, however, is that New York is home to one of the most significant communities of female entrepreneurs in the United States. At 19% of the city’s entrepreneurs, women play a larger role in New York City than in any other major startup ecosystem. In fact, despite Silicon Valley’s reputation for leading the global startup community, women in New York own twice as many startups as in the city’s west-coast counterpart. Despite the success of women in New York City, however, it remains clear that the startup ecosystem there has quite a way to go before gender parity can be achieved. In this piece, we wish to take a look at a few of the initiatives through which women are pushed to become successful entrepreneurs in the New York City ecosystem.
For women looking to build their own startups, but not interested in an accelerator program, there are also are also female-focused angel investors in the NYC market. Golden Seeds, a New York-based investment group, offers seed-stage investment to women who manage to pass the application process. To date, the group says that they have 275 members who, along with their venture funds, have invested more than $60 million in the 60+ companies in the group’s portfolio. Though based in New York City, the organization also operates chapters in Silicon Valley, Boston, and Texas.
In summary, New York is currently home to one of the largest communities of female entrepreneurs in the United States. Perhaps though a combination of conferences, networking groups, and investors, women in this market have taken the initiative to found a startups. A large gender-gap remains, however, and it will take a greater effort to make progress towards parity.
Brendan Maynard, an American tech blogger who has previously written for GoalEurope and Inventures, is a new contributor to Startupbusiness News.