The impact that startup companies have on society and the economy at large is simply staggering.
Sure, the startup sector has made it easier to get a ride and find a place to stay and pay for coffee. But its real impact on our lives is more fundamental: One study, for example, famously found that startup firms were responsible for literally all of the net job growth in the United States from 1977 to 2005.
During the past decade, the New York startup ecosystem has grown to number-two in the world. This is largely due to the growth of fintech. According to McKinsey, nearly $23 billion of venture capital and growth equity has been deployed to fintech startups during the past five years, and the needle continues to move higher: $12.2 billion was spent in 2014 alone. The New York market is particularly attractive to these finance-focused startups for obvious reasons.
Because our people live and breathe finance, it makes sense for Vested to be as close to every new financial technology company as we can. Which is why we’re thrilled to report that our co-founder and CEO, Dan Simon, has accepted an invitation from Techstars to become a mentor to financial technology startups.
Serving alongside well-known investors, founders who hit it big, and corporate executives, Dan will help provide today’s generation of entrepreneurs with the support and mentorship they need to turn their ideas into the “next big thing.”
Techstars is a global ecosystem that helps entrepreneurs build great businesses. It hosts programs, oversees accelerators, and is affiliated with a venture capital fund that has more than $250m under management.
(Image via techstars.com)