CUF in the News
is a New York City-based think tank that fuses journalistic reporting techniques with traditional policy analysis to produce in-depth reports and workable policy solutions on the critical issues facing our cities.
New York by the Numbers
Economic snapshots of the 5 boroughs
|
||||||||
Citing the Center's recent report, "Building New York City's Innovation Economy," the council's purpose will be to act on major recommendations from the report such as leveraging city support to get New York's academic research institutions to support local technology spinoffs, fostering linkages among the individuals and institutions that are important to the development of a self-sustaining tech cluster, and growing the number of New York City startup companies drawing on university research.
The text of his speech dedicated to the Council is below. The entire speech can be found here.
Throughout this Recession, there's been a lot of talk about diversifying the local economy beyond Wall Street. So far -- let's be honest -- that conversation has fallen a little short.
No metropolitan region in the nation comes close to the research and development dollars spent by our great universities and research institutions. Here in the borough of Manhattan, we have NYU, Columbia, Fordham, CUNY, Rockefeller University, SUNY, and many others.
And with the financial might of Wall Street, we also have the pools of capital needed to transform these cutting-edge ideas into cutting-edge businesses.
If ever there was a place that is home to the "clustering force" I mentioned earlier, this is it.
Yet of the 500 fastest-growing technology, media, and bio-science companies in North America -- only 6 are located in New York City.
The problem is that too often these different parts of New York have trouble finding each other.
City government's job is to make the introduction.
As recommended by the Center for an Urban Future in a report released in September, we should create "Innovation NYC," an intermediary for building bridges between universities and entrepreneurs, with the mandate to grow the tech sector. It's a program that has worked in other cities from Boston to San Diego and it can work here.
Tonight I am also pleased to announce the creation of a Presidents Council for Manhattan's Innovation Economy, made up of the presidents of the borough's great universities and research institutions, and the New York Academy of Sciences, which I will chair.
The Council's purpose will be to develop a consensus around the best ways for government to support the city's tech sector. We will also be setting targets for growing the number of New York City startup companies drawing on university research.
If we do this right, soon enough Silicon Valley will be learning from us about how to turn scientific breakthroughs into jobs.
Now, if we're going to rely on Manhattan's universities to be a major source of innovation, then we must give them the support they need to maintain their excellence.
For the past four years, we've been busy doing just that.
From Greenwich Village to West Harlem and Lincoln Square in between Manhattan is alive with the exciting new ambitions of its world-renowned universities.
NYU, Columbia, and Fordham--each has a different plan for the future.
And in each neighborhood that's home to one of these schools, local residents have voiced concerns about what expansion will mean.
The good news is that I know from experience that the needs of universities and the needs of communities can be balanced. And both can win.
New York City's economic growth depends on finding a way for both sides of this dialogue to remain fully invested in the city's future.
So I pledge to you tonight that my office will never shy away from the hard work needed to hammer out those compromises.
RELATED PUBLICATIONS
Building New York City's Innovation Economy, September 28, 2009
©2008 Center for an Urban Future. All Rights Reserved.
120 Wall Street, 20th Floor, NY, NY 10005 Phone (212) 479-3341 Fax (212) 479-3338 E-mail cuf@nycfuture.org