The Importance of NYC EDC and the NYC Innovation Collective

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Brian Frumberg is the Founder of VentureOut, which launched in 2012 while working at Gotham Ventures, an early-stage venture capital fund. Its mission is to help bridge the gap between the innovators around the world and the endless opportunities available to them in the New York, the most collaborative and diverse tech ecosystem in the world. He’s also a proud advocate of of the New York City's vibrant technology community, as a speaker, mentor, a Co-Founder & President of the NYC Innovation Collective, member of the FWD.us Innovation Council, and as the Founder of the Chaminade Alumni Entrepreneurs Association. Through VentureOut, the NYC Innovation Collective and FWD.us Brian connects with thousands of thought leaders, entrepreneurs, investors and aspiring innovators from across the planet.

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Brian Frumberg’s LinkedIn: https://www.linkedin.com/in/brianfrumberg/ 

Brian Frumberg’s Twitter:  https://twitter.com/BrianFrumberg 

Brian Frumberg’s Website: https://ventureoutny.com/ 

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Outline: 

Here’s the timestamps for the episode: 

(00:00) – Introduction

(01:56) –CzechInvest is an innovation platform and an accelerator trying to create more efficiency in the global venture ecosystem, by providing opportunities for the most promising innovators and startup founders around the world to gain access to all the opportunities available for them here in New York City and the broader US ecosystem. 

(03:36) – The venture ecosystem, both in New York and around the US, needed a bit of education on how they should be considering foreign startups in the same way they consider startups that maybe don't today meet their criteria

(08:06) – The idea of immigration reform is important. There's not a pathway for entrepreneurs to be able to get to the US market. The instance of entrepreneurship among immigrants is two to three times that of native born Americans

(11:07) – Almost all the capital lives in the US and it doesn't invest outside the US

(12:35) – VentureOut creates opportunities for companies to get access to the biggest consumer and enterprise marketplace and the biggest venture funding ecosystem on the planet, bringing them to the US

(14:31) – Immigration reforms and the work of Fwd.us. We should be focused on this competition for talent, on creating pathways for innovators and doctors and people that have higher degrees in STEM fields to be able to come to the US

(20:58) – Should the US have policies more similar to what you see in Europe, it would enable so many more women to be active in the workforce and it would add over 10 years over a trillion dollars to the US economy

(26:13) – The EDC is technically a nonprofit that manages both the real estate portfolio of New York City, which is 80% of the work of the EDC, as well as the economic development work to try to diversify the economy of New York away from its real reliance on financial services and Wall Street into other industries that they viewed as the industries of the future, like tech and innovation

(36:28) – Within the startup practice of sector programs, VentureOut has been running AI programs with the NYU Future Labs for the last couple of years. It is a very AI machine learning driven program, trying to help these companies blow up their network of real thought meters, and advisors and corporates and investors in the AI ecosystem in New York City