Big Data Analytics and Cloud Computing Brought FinTech Jobs to NY

4/1/14Follow @jpruth

On Tuesday, the Partnership for New York City said technology has played a significant role in job growth in the city.

According to a blog post from the partnership’s NYC Jobs Blueprint initiative, the city’s technology sector saw employment grow by 21 percent from 2006 to 2012. That outpaced the national rate of 12 percent in technology jobs growth for the same period, the post said. The partnership is a nonprofit group of CEOs that supports programs for economic growth in the city.

Technology jobs in the city’s five boroughs are spread across various industries, the partnership said, with 30 percent at high-tech companies. Some 27 percent—which is about 40,000—of the region’s tech jobs are with financial firms, the post said. The partnership cited developments in cloud computing and big data analytics as helping to expand the local fintech scene, which since 2007 has seen 30 startups emerge.

Other high-tech jobs in New York can be found in health, media, retail, and fashion—the latter of which recently got a boost. Last week, the Partnership Fund for New York City, the investment arm of the partnership, and Springboard Enterprises, an accelerator for women-led startups, announced the formation of the New York Fashion Tech Lab.

The 12-week program, which starts in May, will offer fashion-tech startups guidance from industry mentors and is backed by companies such as Ralph Lauren, Estee Lauder, and J. Crew. In addition to Springboard’s input, the fashion-tech lab is modeled partly after the FinTech Innovation Lab and the New York Digital Health Accelerator, which is overseen by the New York eHealth Collaborative and the partnership fund.

João-Pierre S. Ruth is the editor of Xconomy New York. He can be reached at jpruth@xconomy.com and followed on Twitter @jpruth. Follow @jpruth

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  • http://www.palcomonline.com/ Rakesh Khuntia

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