"You should move to Silicon Valley.”
When my co-founder, Alex, and I were trying to raise our initial financing for Rho, we heard this advice over and over. New York was still emerging as a tech ecosystem, and it was significantly harder to raise capital here than in San Francisco in 2018 – and anytime prior.
We remained here, building Rho in downtown NYC, despite that well-intentioned advice, because we believed deeply in this city's remarkable energy and potential. We knew New York would develop into the best city in the world to launch a startup, and we wanted to be a part of that transformation.
Fast forward, we’re now five years into our journey, and I have the same conviction I had when we started.New York City is the best place in the world to build a business.
From first-class funds to an ecosystem of founders building the next generation of technology companies, NYC has the greatest concentration of big ideas, uncompromising innovators, and world-class operators.
Today, there are over 25k tech-enabled startups in NYC and 300+ venture capital firms based here, and New York is the second-largest tech ecosystem in the world. New York startups raised $10.7bn over 812 deals in 2023, and its venture market has been growing at more than twice the pace
of San Francisco.
What makes New York great is that it is not exclusively a tech city. Tech is now just one of the industries that attract the world's most talented and ambitious people to the city. And that makes it the best place in the world to build a business.
This year, we’re doubling down on our commitments to the NYC startup ecosystem, founders, and funds that make this city special.
We have more than a few exciting events we are curating with strategic partners like Tech:NYC, aimed at helping builders in the city overcome challenges they are facing, learn from peers, and build connections that ultimately strengthen the city’s startup ecosystem for years to come. In the meantime, Rho is here to support the other founders and startups that make this city special. If we can be of any assistance, don’t hesitate to reach out.