NYC Recovery Begins: Reigniting the Startup and Small Business Ecosystem
New York City is the financial capital of the world with one of the largest startup and small business (SMB) ecosystems globally. It is home to over 9,000 startups, valued at more than $71 billion. The City, however, now also has the grim claim of being the epicenter of pandemic in the U.S, having suffered over 16,000+ deaths to date. Understandably, the City’s business community has struggled facing venture capital down rounds, lending/ credit freeze and for some, permanently closed storefronts. The Covid-19 upheaval has affected nearly every startup and small business. As we envision a post Covid-19 return, a question lingers: Will NYC remain a premier innovation ecosystem and if so, how it will change?
Join us for a panel of experts in startup and small business financing and get their perspectives on what the “new normal” may look like. Hear from senior leaders at Citigroup, Silicon Valley Bank, and Partnership Fund of New York City.
Event Host and Moderator: Olga Artman ’09TC
REGISTER HERE
Registration required. A Zoom link will be sent before the event.
Featured Speakers:
• Andrew Ditton, Head of Citi Impact Fund, a $150 million VC/PE Fund (Citi is a 208 year old global bank, headquartered in NYC with total assets of $1.96 trillion)
• Maria Gotsch, CEO of Partnership Fund for New York City (PF is an economic development platform with a $170 million evergreen PE fund, and two accelerators focused on fintech & healthcare)
• Shai Goldman, Managing Director of Silicon Valley Bank (SVB specializes in offering banking solutions to early stage and VC-backed companies with a $75 billion of assets.)
A few of the questions/ topics we will explore include:
• What does the future of NYC startup and small business ecosystem look like? (Will the best startups still find NYC the most compelling destination? Or will NYC cede ground to other regional innovation hubs?)
• What are some of the considerations for startup founders and small business owners as they are thinking about re-opening their operations and launching new products?
• If the startups are ready and the small businesses are ready, will the capital providers be there alongside them to reinvigorate NYC? (Will there be access to capital (equity – are VC investors still investing, debt- are there specific loan programs available?)
• Over the past few months we have seen a number of broken deals. In this new normal, how have expectations change for the buyers and sellers?
• What business experiences can you share that we can draw insights and courage from as startups and small business begin to re-open?
• What are some of the opportunities for the “new normal and how do startups and small businesses seize them “e.g. recovering the revenue, rebuilding operations, rethinking business model and accelerating the adoption of digital?