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January 9, 2014

Silicon Alley ‘outpaces Silicon Valley’

Report finds NY startups contributed to more growth than their Californian cousins last year.

By Joe Curtis

New York startups helped the city’s tech sector outpace Silicon Valley in 2013, according to a report.

Early stage tech firms helped drive New York to a 28.9% job growth rate last year, beating the Valley’s 20.6%, found cloud-based HR solutions firm TriNet’s monthly SMBeat report.

Across America, the number of tech employees grew by 21% – only beaten by construction, which grew by 21.5%, said the report, collated from data on 8,000 TriNet customers and 218,000 employees.

Finance also picked up in New York, posting an annual growth figure of 4.7%.

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