The Pontiflex Blog

Where to Startup: NYC

May 11, 2010 at 1:10 pm Jon Beardsley Leave a comment

It’s fair to say that New York City has established itself as a dynamic home for startups. But as those of us who live and work here know, within NYC, you can choose from different neighborhoods – even different boroughs – to set up shop. (By the way, if you want to see a map of the number of financings in each NYC zip code  and the total amount of venture money invested per zip code, check out this map on Business Insider).

I’ve worked in two startups that both began with just a couple of people, and have experienced firsthand the transition from very small to mid-sized from two distinctly different locations: the first in lower Manhattan, and the second, here at Pontiflex in DUMBO. While there are more celebrated NYC startup neighborhoods (Flatiron, SoHo, etc.), both lower Manhattan and DUMBO provide more space for the money, convenient transportation, and access to NYC talent.

Geographically, the neighborhoods are very close to each other – just one stop away on the A train. Both have lovely views of the East River and all of its pristine glory (or lack thereof), both have a rich and continued history of contributing to New York City’s growth, both have great cobble-stoned outdoor haunts for the brainstorming and venting sessions necessary to any start up’s health.

The two startups I’ve worked for, Innovation Ads and Pontiflex, had similar trajectories in terms of growth. When I started at each, total headcount was about 5. Both companies began with many ideas and honed in on their product-market fit rapidly. Both had aggressive revenue goals (3x year over year), and both accomplished their financial targets. So clearly, one can find success in either locale.

But the companies also have important differences. Innovation Ads was primarily a sales organization and the Wall Street boiler room vibe was one which it fed off of successfully. People were motivated by the high pressure, sales-driven environment. Pontiflex is primarily a tech company and fits in well in NYC’s Digital District. The atmosphere is certainly fast-paced, but the daily workings are more collaborative and technology focused. People ride their bikes to work, have flexible schedules, and are encouraged to take risks. Accordingly, Pontiflex has had no problem attracting tech talent to DUMBO while Innovation Ads had no problem courting sales professionals to the venerable Financial District.

Whichever you pick, the neighborhood will indeed influence your corporate culture. Think of it in these terms: Grimaldi’s and Jacques Torres vs. Delmonico’s and Harry’s. Strollers and Hipsters vs. Bankers and…Bankers.

Pick the place that embodies your culture and breeds the type of success you need to achieve.

Entry filed under: nextNY, Online Advertising, Small Business. Tags: .