Anyone who knows NYC knows that it is made up of a variety of neighborhoods and areas with each often having its own distinct character. An examination of venture capital deals and dollars going to Silicon Alley from July 2010 to June 2010 reveals that the heart of Silicon Alley is in Gramercy Park.
For those unfamiliar with the term Silicon Alley, it is the colloquial name given in the late 1990’s to describe Manhattan / New York City-based internet and new media companies, primarily startups. Despite some bumps and bruises from the dot com implosion, July 2009 to June 2010 saw Silicon Alley being a consistent and strong number three geography in the rankings for venture capital dollars and deals.
So how do Silicon Alley’s various neighborhoods stack up against one another in terms of venture capital dollars and deals?
CB Insights database tracked 124 New York deals worth a total of $821 million. While it was unsurprising that Manhattan beat out other boroughs, the actual neighborhood breakdown within Manhattan yielded some interesting results. Toward the top of the list, with more than ten deals each, we see East Village (11), Midtown East (12), SoHo (13), and Midtown South (18). However, taking the title of the Real Silicon Alley by a landslide, with 27 deals and more than a quarter (26.4%) of total funding was Gramercy Park. Here’s the full list by neighborhood and number of deals.
|#12||Upper West Side||2|
|#12||Battery Park City||2|
Also, this interactive map shows the deal and funding breakdown by zip code (Mouse over for neighborhood and other details. Also note that one deal in the Bronx and three deals in Brooklyn are not shown; although, by purist definitions, these may not be Silicon Alley in any case).