How East Coast tech became an urban phenomenon [Atlantic Cities]

In the 1990s tech boom, it was all about the suburban office park. Now, cities are back.

The Atlantic Cities highlights how cities are the hubs for innovation and growing the diversity of American technology beyond the Valley, led by New York.

Today, Greater New York is the nation’s third largest center for venture capital financed startups, attracting $3.1 billion in funding in 2011, behind only the Bay Area and greater Boston (see below). Nearly 500 (486) startups received funding in New York City between 2007 and 2011 — 15 of them more than $50 million, 27 at least $25 million, and 81 $10 million or more, according to the New Tech City report.

And, as we watch the growth continue: “there is a significant clustering and concentration in and around lower Manhattan, from Midtown south through Chelsea (where Google is located in the old Port Authority Building) down through the Village, Soho and Tribeca, and across into Brooklyn.”

[Atlantic Cities]