![]() ![]() In the short term, how do you think local startups have been affected by the fact that New York is the epicenter of the pandemic? Regardless of COVID-19, building next to your customers is always an incredible advantage. We believe the next generation of enterprise tech giants will come out of NYC, given its density of Fortune 500 customers. Since 2014, there has been over $10 billion of venture funding towards enterprise startups alone, and that number is only growing. Very much so – we continue to be extremely bullish on investments in enterprise tech in NYC with over 70% of our Work-Bench portfolio is based in the city. How much is local investing a focus for you now? Keep in mind that if you’re on the hunt for an investor, several of these VCs are industry specific, which they note in their answers. Andrew Ackerman, managing director, urbantech, Dreamit Ventures.Andrew Ive, general managing partner, Big Idea Ventures.Zach Aarons, co-founder and managing partner, MetaProp.Hans Morris, managing partner, Nyca Partners.David Levinson, vice president, AF Ventures (formerly AccelFoods). ![]() Nihal Mehta, founding general partner, Eniac Ventures.Chad Anderson, managing partner, Space Capital.Eric Hippeau, managing partner, Lerer Hippeau.Alexa von Tobel, founder and managing partner, Inspired Capital.Jessica Lin, general partner, Work-Bench.They also discussed industries that are likely to flourish and how the shift to remote work will affect local startups. Lest you think this is just reflexive NYC boosting, several of our respondents offered stats and historical analyses to back up their arguments. As AF Ventures’ David Levinson put it, “New York simply has too much to offer, from its richly diverse population, cultural significance and vast collection of industries to lose its entrepreneurial spirit.” However, when we surveyed a number of New York-based venture capitalists, they seemed bullish about the city’s future as a startup and technology hub. hotspot for the COVID-19 pandemic, and it’s also one of the most expensive cities in the world - so you might think startups would be anxious to leave. ![]()
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