Thursday, June 12, 2025

June 12, 2025 • Estimated Reading Time: 10 minutes

Thursday, June 12, 2025 

In today’s digest, another kudos to NYC in the tech ecosystem rankings, a final mayoral debate, and navigating beach season. 🏖️

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  • The second and final NYC mayoral debate happens tonight at 7pm on Spectrum News NY1. Here’s what to watch for. (CBS New York) 

    • There are 11 Democratic candidates vying to be mayor of our favorite city, and the seven leading contenders will participate in the debate.

    • You can stream the debate live here.

  • The NYC Department of Transportation announced yesterday it will redesign intersections throughout NYC to improve pedestrian and cyclist safety, using physical features like barriers, granite blocks, and planters in the street to stop vehicles from parking near corners. 🚴 (amNY)

    • DOT officials say nearly half of all traffic fatalities occur in intersections, so the new design aims to improve visibility between pedestrians, cyclists, and turning vehicles.

    • The initial rollout will happen at specific high-crash intersections throughout Brooklyn.

  • Surf’s up! 🤙 Summer’s unofficially officially here! There are eight public beaches spread across four of the city’s boroughs — check out these insider tips for how to navigate the city’s beaches, from choosing the right spot to understanding weather reports and staying safe. 🏄 (The CITY)

In other reading:

  • ‘By appointment only’ in New York: Six hidden shops worth visiting (New York Times)

  • NY governor teams up with MTA, schools, and BMX star to combat subway surfing (Gothamist)

  • Who is Ellie the Elephant? A day with the New York Liberty icon (ESPN)

New York City just pulled ahead of London to claim the No. 2 spot globally in the 2025 Global Startup Ecosystem Report, and the momentum is impossible to ignore. 👀

With $621 billion in ecosystem value and standout rankings in funding, performance, and talent, NYC is reshaping the future of global innovation. Let’s dive into the ranking.

🔥 What’s fueling the fire:

  • 150 unicorns and counting, well above the global average of four.

  • $2.3 billion raised by NYC startups in a single month in June 2024.

  • $15 billion in early-stage funding from H2 2022-2024.

  • $166 billion in VC funding from 2020-2024, second only to the Bay Area.

  • Programs like AI Nexus, Harlem Biospace, and the Climate Innovation Hub are turning public investment into cross-sector breakthroughs

💪 Strength in diversity and talent:

  • Through programs like Factor and the Founder Fellowship, the city’s ecosystem is ensuring diverse founders are scaling alongside the sector itself.

  • 17% of the Black and Latino U.S.-based founders who have raised $1 million+ are in NY.

  • NYC has added 130,000 new STEM jobs over the last decade, with the highest concentration of STEM graduates in the U.S. and more than 100 higher-ed institutions fueling the pipeline.

💡 NYC’s innovation economy is powering forward in key sectors:

  • AI: 14% of all U.S. Seed and Series A deals in AI in 2024 came from NYC startups.

  • Cybersecurity: NYC’s Wiz became the world’s largest cyber unicorn and was acquired by Alphabet for $32 billion.​​

  • Climatetech: The Green Economy Action Plan positions NYC as a sustainability leader, aiming to triple job growth over the next two decades.

🧠 Why it matters: NYC is setting the pace. With a resilient startup economy, major exits, and deep public-private partnerships, the city is rewriting the global innovation playbook on its own terms.

“New York remains a key hub for startups scaling emerging technologies, especially AI, life sciences, and climatetech,” said Tech:NYC President and CEO Julie Samuels. “With a strong talent pool and growing investment, the city’s tech ecosystem is poised to drive economic growth, making us more optimistic than ever about New York’s future.”

In other reading:

  • Tech professionals are on the job hunt again – here’s what they’re looking for (IT Pro)

  • Thanks to AI, the one-person unicorn is closer than you think (Fast Company)

  • The secret to retaining the best employees: Ask them these four questions (Wall Street Journal)

  • Abacum, an NYC-based business planning platform for finance teams, raised $60 million in Series B funding. Scale Venture Partners led the round and was joined by Cathay Innovation and existing investors Y Combinator, Creandum, Kfund, and Atomico.

  • Cyera, an NYC-based AI-powered data security platform, raised $540 million in Series E funding at a $6 billion valuation. Georgian, Greenoaks, and Lightspeed Venture Partners led the round and were joined by existing investors Accel, Coatue, Cyberstarts, and others.

  • ⭐ June 16: The latest installment of our Cornell Tech @ Bloomberg speaker series, featuring Hayley Barna, Partner at First Round Capital, who will share her journey from startup founder to venture capitalist, offer her take on the next wave of breakout startups, and explore what it means to back bold ideas from day one. Register here. ⭐

  • ⭐ June 17: Decoded Futures Demo Day, a showcase of creativity, collaboration, and innovation featuring participants who have been exploring how AI can elevate nonprofit and social impact work during our 7-week Decoded Futures AI accelerator. Register here. ⭐

  • June 17: VC Best Practices: Building Your First Institutional Fund, an educational series for new investors who want to be exposed to the best venture and startup thinking. Register here.

  • ⭐ June 18: From Policy to Progress: The Future of Tech Investment in New York City, a discussion featuring policymakers, tech leaders, and community advocates exploring how digital innovation and bold policies are shaping the future of NYC. Register here. ⭐

  • June 18: AI Show Not Tell - Ditch The Deck, a social meet-up curated for NYC-area technologists, founders, developers, and investors. Register here.

  • June 20: NYC Tech Night, to connect with fellow tech enthusiasts, share ideas, and explore the latest developments in agentic AI. Register here.

  • June 24: NY Enterprise Tech Meetup: AI-Powered Hypergrowth in Healthcare with Adonis & Tennr, a chance to learn firsthand from founders who’ve navigated it all: product-market fit, go-to-market motion, fundraising, and building with AI. Register here.

  • June 25: Techie Tapas, to give techies a space to network, collaborate, and build community. Register here.

  • June 25-26: Fundraising Strategy & Storytelling, a two-day workshop for early-stage founders to tighten their pitch, refine their deck, and get live feedback on fundraising strategy from top investors and operators. Register with promo code BRDERLESS20 here.

  • June 26: When AI Meets Affordable Housing – Justice Through Code Graduation Showcase, a virtual showcase featuring four aAI solutions developed by fellows from Columbia’s Justice Through Code program. Register here.

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