Amid a nationwide surge in tech-related venture capital activity, New York has new bragging rights over technology industry rival Boston. According to a report from CB Insights, New York has seen more technology venture capital deals and has amassed more venture dollars than its New England rival.
Over the last five quarters, NY has seen 208 tech deals vs. 207 for Massachusetts. Funding to NY tech companies came in at $1.22B vs. $1.21B for Massachusetts. The margin of victory for NY is ever so slight, but most striking is the trend for both states which are going in very different directions.
New York up, Beantown down. California, naturally, continues to occupy the No. 1 slot.
In overall venture funding across industries (not just tech), however, Boston still has an edge over New York.
Internet investment experienced the greatest rise in the past two years, up 21 percent. Green technology and health care investments followed with growth of 7 percent and 2 percent. In the fourth quarter of 2010, 735 deals accounted for $6.5 billion in venture activity. For the full year, venture funding rose 14 percent to $23.7 billion.
The figures aren’t surprising, given that Fred Wilson is now advising entrepreneurs on what to do about all the investors beating their doors down and ringing their phones off the hook. Worries aside, though, from a regional perspective it just feels good to beat Boston.
mtaylor [at] observer.com | @mbrookstaylor
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