Mike Bloomberg worked to position New York City to become the global capital of technological innovation. From 2007-2012, jobs in the City’s tech sector grew by 74 percent, making the City second only to Silicon Valley in venture capital funding for tech startups. The unprecedented Applied Sciences NYC initiative will mean even more investment and jobs in the years ahead.
NYC passed Boston in venture capital funding for tech start-ups, behind only Silicon Valley.
NYC became a national leader in job growth in the mobile app industry.
The applied science competition started under the Bloomberg administration positions NYC to be the world's leading capital of technological innovation.
Progress: Technology & Applied Sciences
Roadmap for the Digital City: In January 2011, the Bloomberg Administration outlined a path to establish NYC as the world's top ranked digital city. The roadmap included a job map where employees and employers could connect.
"Pathways in Technology High School": In a partnership with CUNY and IBM, the Bloomberg Administration opened a new school in 2012 serving Grade 9 to Grade 14; students learn computer science and complete two years of college work. When they graduate with an associate's degree, students will be first in line for jobs with IBM.
Incubators: The City helped build a network of more than ten incubators including General Assembly, a tech incubator in Union Square that became a national incubator.
NYC Passed Boston: NYC grew to become second only to Silicon Valley in venture capital funding for tech start-ups.
Tech Growth: NYC was the only tech center to see growth in venture capital investment from 2007-2011.
Tech Moving to New York: Major tech companies including Twitter, Facebook, Yelp, Tumblr and Google opened offices here. NYC became one of the premiere digital cities in the world, attracting top tier digital media entrepreneurs and startups.
Mobile App Industry: The New York City metro area became the number one place in the country for job growth in mobile app industry.
APPLIED SCIENCES COMPETITION
Applied Sciences NYC: In December 2010, the Bloomberg administration launched Applied Sciences NYC, a competition leading academic and research institutions from around the world to propose a new or expanded applied sciences and engineering campus in New York City. Winners would receive support from the City to make those campuses a reality, and four winners emerged.
Cornell Tech: Cornell University and Technion (Israel Institute of Technology) are building a $2 billion, two-million-square-foot applied science and engineering campus on Roosevelt Island. Over the next three decades, the new campus is expected to generate 8,000 permanent jobs, 20,000 construction jobs, hundreds of new companies and more than $23 billion in economic activity.
Columbia’s Institute for Data Sciences and Engineering: The Institute is comprised of an additional 44,000 square feet on Columbia University’s campus dedicated to applied sciences and engineering. The Institute will increase Columbia’s engineering faculty by 50 percent.
Center for Urban Science & Progress (CUSP): A partnership between several universities including NYU, CUNY and Carnegie Mellon to open an applied sciences campus in Downtown Brooklyn is expected to create 7,700 jobs and spin off nearly 200 companies.
Carnegie Mellon Integrative Media Program at Steiner Studios: Carnegie Mellon and Steiner Studios partnered to create an Integrative Media Program at the Brooklyn Navy Yards, which will provide students with hands-on training in industries integrating technology and the arts, with a focus on applications in film, games, social media, big data, interactive computing, performing and visual arts, integrative innovation in productions and services and urban design.
Alexandria Center for Life Science-NYC: The City created a partnership to build the 1 million square foot state-of-the-art research center and development campus to serve as the flagship location for future bioscience expansion in New York City. Phase 1 of the new science campus was completed, positioning NYC to be a leader in bioscience research and development.
Harlem Biospace (Hb): The Bloomberg administration opened Harlem Biospace (Hb), a biotech incubator that provides up to 24 competitively-selected, early-stage life sciences companies access to affordable wet-lab, microbench space, specialized laboratory equipment, mentorship, business support and programing.
NYC Life Sciences Fund: The fund was established by the Bloomberg administration in partnership with academic institutions, industry leaders, top-tier investors and the philanthropic community to deploy a minimum of $100 million to early-stage life sciences companies with the goal of launching 15 to 20 breakthrough ventures by 2020.
Biotech Tax Credit: The Bloomberg administration created a $3 million refundable tax credit for facilities, operations, and training for small biotech companies.
BioBat at Brooklyn Army Terminal: Located within the Brooklyn Army Terminal, BioBat will ultimately provide 500,000 square feet of commercial biotech space.
Genome Center: The City provided support to build the Genome Center. The Center will have 130 genetic sequencing machines, more than any other similar facility in the region, and will help position New York City as a leader in genetic research.
Mount Sinai Institute of Technology: The City provided $5 million to help establish the Mount Sinai Institute of Technology (MSIT). The Institute’s goal is to transform biomedicine through the discovery, design, development and delivery of entrepreneurially-driven, technology-based solutions to critical unmet medical needs, particularly in the current era of healthcare reform.