Good-b Profits: Love That Mayor!
This guy is cool- no really. The Mayor of New York is doing all the things that the federal government should be doing for business-but for some reason is NOT! Leave it to a cool headed New York native like Michael Bloomberg to innovate economic solutions! A billionaire businessman, he invented a technology that transformed Wall Street, then created a media empire beyond compare. Now he is helping others do the same. Yet the city is suffering from severe budget shortfalls in the wake of the financial industry blow out. This has resulted in service cutbacks, laying off workers and closing firehouses. To remedy the problem, Mayor Bloomberg and New York’s Economic Development Council are pouring money into start-ups through incubators and services geared to the emerging entrepreneur. The goal is to support new business growth to put dollars back into city coffers. The EDC offers new businesses everything from $200 office space (not a typo), to networking opportunities, to opportunities for accessing venture capital. New York is poised to become the new U.S. technological center with the creation of Silicon Alley programs. As a matter of fact, maybe it already is! Thank you Mayor B!
“VC Connect” online information portal and VC support services: To establish a central information clearing house and support network for entrepreneurs and startup companies and to help publicize the activity already occurring in New York, the city will create and manage a website that will include a calendar of seminars and networking events, real estate information, a discussion forum and other resources to help entrepreneurs. The website will launch this summer. The city is also working to expand existing events in high demand in the startup community, such as seminars on writing business plans and pitching investors and networking events.
FastTrac: “A program to help New Yorkers start entrepreneurial businesses: Mayor Bloomberg announced the launch of FastTrac, a business training program to help emerging entrepreneurs, including those displaced from the financial services sector, start new businesses and help existing entrepreneurial business owners run their businesses. The city’s Department of Small Business Services is partnering with the Kauffman Foundation, a philanthropic organization that works to advance entrepreneurship around the world, to bring the FastTrac programs to New York City. The program will offer two courses: FastTrac NewVenture, a six-session classroom-based “crash course” beginning March 23 that is designed to help entrepreneurs determine the viability of their business concepts and develop start-up strategies for their businesses; and FastTrac GrowthVenture, an eight-session classroom training beginning in mid-April that will teach existing businesses how to review and reshape their business models in order to meet the current economic challenges.”
“In an ever-changing economy, NYCEDC understands that New York City must be aggressive in maintaining its position as a global capital. The City will support the businesses and legacy industries that made New York a powerhouse, while also spurring an “innovation economy” that relies on smart and talented people for a continuous influx of new ideas.To facilitate this, NYCEDC and its Center for Economic Transformation (CET) have launched more than 60 pilot initiatives to address four key components necessary for innovation:
Access to Capital – Affordable Workspace – Support for Entrepreneurship and Innovation International Outreach
Providing capital, space, support, and mentorship for the City’s burgeoning entrepreneurship sector will further brand New York City as a global innovation hub, attracting experienced entrepreneurs and talent to the area.”