An overwhelming majority of executives believe the New York tech scene is booming
New York, NY, May 18, 2015 – 1010data, the only Big Data Discovery platform that uniquely combines a complete analytical platform with all of the relevant data clients need, announced today the findings of its Silicon Shootout study, which examined the differences between the tech scenes between New York’s “Silicon Alley” and the Silicon Valley of the San Francisco Bay Area. The Silicon Shootout polled directors, vice presidents, c-level executives and company principals of businesses across the country. 1010data announced the study at their 2nd Annual Insight Summit which included attendees from many of 1010data’s more than 700 customers.
An overwhelming majority (86 percent) of executives believe the New York tech scene is booming, for the following top five reasons:
(44 percent): More venture capitalists and other investors are supporting New York based tech companies
(43 percent): More New York tech companies are being acquired (ex. Tumblr, Buddy Media)
(42 percent): City and state governments are supporting the New York tech scene
(42 percent): New York tech companies are pulling from a better talent pool with Wall Street and nearby Fortune 500 companies
(41 percent): More New York tech companies are going public
When asked to list which kind of traits are more likely to be found in tech professionals in New York versus San Francisco/Silicon Valley, executives thought New Yorkers were more likely to show intensity, ambition, tenacity, practicality, and analytical prowess. Tech workers in San Francisco/Silicon Valley were considered more creative, humorous and prone to group think. Here is the breakdown:
When asked which attributes were best at attracting top talent to a tech business, the San Francisco/Silicon Valley only beat New York in weather and cost of living. New York meanwhile beat San Francisco/Silicon Valley in public transportation, nightlife, access to arts and culture, energy level and food.
Executives polled believed the most successful data analysis companies were likely to come from New York for the following top reasons :
Financial talent pool from Wall Street - 60%
New York is a high energy environment - 59%
Talent pool from New York Fortune 500 companies - 56%
Proximity to Ivy League Universities - 49%
The city never sleeps - 46%
Proximity to data-driven companies in many industries - 45%
Bad weather encourages studious behavior - 12%
When it came to determine which place provided a better business climate, New York was the winner:
Our Silicon Shootout demonstrates that executives from across the country are aware that New York has a different approach to tech that is reflected by the people it attracts and the services the city offers,” said Sandy Steier, Co-founder and CEO of 1010data. “While we suspected that a majority of executives from around the country would believe the most successful data analysis companies were likely to come from New York, we had no idea so many executives would share this point of view.
About 1010data’s Silicon Shootout:
The study was commissioned by 1010data and fielded by Instantly. Instantly’s online market research panel consists of 12 million highly responsive and diverse panelists worldwide with 12,000 new registrants per day, including mobile survey panelists. They are able to reach niche panelists across any demographic from 90+ countries in North, Central and South America, Europe, Africa and Asia Pacific. This study surveyed 318 executives throughout the United States. No single state accounted for more than 14% of survey respondents. The only states accounting for 5% or greater of survey respondents were Florida (14%), California (12%), New York (11%), Illinois (5%), Ohio (5%), and Texas (5%).