New York Leaves Boston In The Dust

BicepsThanks to a few years of explosive growth, New York’s ascension is now unstoppable. VCs and other investors simply prefer injecting cash into early stage Big Apple companies thanks to the excellent climate. This doesn’t mean the weather, but the infrastructure and availability of talent. Both factors have given New York, whose acumen in advertising and the creation of mobile apps is the best there is, a huge advantage over close rival Boston, Mass.

For that extra bit of insight, here’s a good chunk of text from the source article:

“According to Manhattan research firm CB Insights, between October 2009 and December 2010 208 technology companies in New York landed venture money, compared with 207 in Massachusetts. New York also eked out a lead in dollars, outpacing Massachusetts $1.22 billion to $1.21 billion.

Moreover, New York saw 165 Internet deals during that period, and Massachusetts saw only 113.

…the number of those deals is steadily increasing, while in Massachusetts, the number has waned. New York’s importance and prestige have steadily increased over the past several quarters, with 33 technology deals in the fourth quarter of 2009 and 50 in the fourth quarter of 2010. Not so for Massachusetts, where such investments have been going in the opposite direction, from 48 to 39 over the same period. In dollars, New York tech investments nearly doubled to $333 million; in Massachusetts, they dropped to $220 million from $272 million.”

Via: Crain’s NY