New York is the best place on earth to build.
Over the past 15 years of investing in and backing the New York tech ecosystem, I’ve watched this community evolve from an underdog into an absolute powerhouse.
Silicon Valley will always be an incredible sandbox for core technology infrastructure. However, if your goal is to build a company that deeply integrates with, scales within, and transforms the global economy, NYC has become the ultimate launchpad.
Here’s why:
1. Elite Talent Pool
The historic playbook of elite engineering and business graduates automatically packing a bag for the West Coast has shifted. New York now commands one of the dense and diverse talent pipelines in the world.
• According to recent ecosystem talent studies, New York captures 10.1% of the entire U.S. college graduating class. For context, the next closest market is Los Angeles at 4.9%.
• The region is anchored by world-class institutions like Columbia, NYU, Cornell Tech, and Princeton, generating a massive annual surplus of technical degrees.
• NYC offers an unmatched concentration of seasoned operators from the Fortune 500. Founders can access developers who deeply understand enterprise procurement, global compliance, and commercial scaling.
2. Vertical Dominance
Building software for other software companies is a viable model, but building for massive, real-world legacy industries is where the greatest value is created. New York naturally dominates these sectors because the buyers, experts, and operators live here.
• Fintech: According to data from Carta, NYC startups secured 48.5% of all fintech venture dollars raised in the United States, nearly doubling the Bay Area’s 25.9%.
• Healthcare & BioTech: Driven by nine major academic medical centers and extensive public-private investments, NYC is the nation’s #1 market for healthtech funding.
• PropTech & Retail/Commerce: As the undisputed global capital of both real estate and retail, NYC serves as the primary testing ground for commerce, luxury tech, and property management.
• Media & AdTech: The city remains the epicenter of global media, giving local B2B SaaS and marketing tech platforms immediate, direct access to major enterprise enterprise accounts.
3. Capital Resilience and Ecosystem Value
The myth that massive, sophisticated early-stage checks are exclusive to the West Coast has been thoroughly debunked by now.
• According to the Startup Genome Global Startup Ecosystem Report, NYC’s ecosystem value has now surpassed $620 billion.
• Even during broader macroeconomic market corrections, PitchBook and NVCA data shows that median seed and Series A round sizes in New York have remained remarkably resilient, occasionally outpacing the Bay Area in deal velocity stability.
• Tech sector employment in NYC has grown by 160% over the last 15 years, outperforming the national tech sector growth rate by nearly 3x.
4. Structural Diversity
Building a global product for a diverse world requires an environment that reflects that world. Groupthink is a silent killer of early-stage startups. NYC’s greatest superpower is its built-in cognitive diversity.
• Tech ecosystem demographic data highlights that Black and Hispanic workers make up 24.3% of NYC’s tech workforce, compared to roughly 8.2% in the San Francisco Bay Area and 10.4% in Boston.
• According to regional ecosystem tracking, 17% of all Black and Latino founders in the U.S. who have successfully raised $1M are based right here in New York.
Next Wave NYC
We built our pre-seed venture fund, wholly backed by Flybridge Capital, to be a reflection of this exact ecosystem. Our fund is run entirely by founders and operators who have spent the last decade helping scale the NYC startup scene.
Our extended investment team includes leaders and alumni from OpenAI, Google, Snowflake, Foursquare, Bowery Farming, Casper, Chief, Flatiron School, Major League Hacking, Squire, WeWork, and The Wing.
We are laser-focused on being the very first commitment and the loudest operational supporter for builders tackling:
• Native AI applications
• Agentic AI for the enterprise
• Developer platforms for AI builders
If you are building the future here in New York, we would love to learn more about what you're working on. Our inboxes are always open.
Let's build. 🗽
— Jesse