More than 350 professionals expected to participate over the next 18 months
Fostering Entrepreneurial Talent is Part of Mayor Bloomberg's Five Borough Economic
"Creating programs where professionals are given the tools to transition successfully to new careers with start-up companies is an important part of the City's efforts to grow the economy," said NYCEDC President Seth W. Pinsky. "In creating the JumpStart program with NYCEDC, The Levin Institute has hit upon a formula that not only allows laid-off professionals to utilize their skills in new areas, but also serves to strengthen the City's entrepreneurial community as a whole."
In April, more than 175 people applied for 50 positions in the pilot program, which began this past April. Selected participants took part in a week-long "Boot Camp" at the Levin Institute followed by a ten-week consulting project with a New York City-based start-up company. The first 50 participants represented a cross-section of financial services workers, including a mix of traders, analysts, and tax and compliance specialists who averaged over 15 years of experience. About half of the participants secured full-time employment, have become paid consultants, started their own companies, or are continuing on projects with their assigned firms.
"The JumpStart NYC pilot program was a great success for participants and companies, and generated tremendous public interest," said Levin Institute President Garrick Utley. "We are excited and gratified to work with the team at NYCEDC to continue JumpStart NYC and its dividend for individuals, small businesses, and the cultural community."
"Never did we imagine the amazing impact this program would have on both our business model and our bottom line," said JumpStart NYC graduate Matt Pressman of Project 2050, an on-line advertising firm. "The JumpStart NYC program has helped Project 2050 with its business projections, forecasting, strategy and budgets and allowed our business to operate much more efficiently and effectively."
More than 90 private sector start-up companies and small businesses have expressed interest in participating in the next phase of the JumpStart NYC and hosting the Jumpstart graduates. Upon its conclusion, the program will yield over 100 consultant projects benefiting start-up and early-stage companies in
For more information on upcoming JumpStart NYC programs please visit: www.levin.suny.edu/jumpstartnyc , or the Levin Institute at: www.levininstitute.org .
About NYCEDC
New York City Economic Development Corporation is the City's primary vehicle for promoting economic growth in each of the five boroughs. NYCEDC's mission is to stimulate growth through expansion and redevelopment programs that encourage investment, generate prosperity and strengthen the City's competitive position. NYCEDC serves as an advocate to the business community by building relationships with companies that allow them to take advantage of
About Levin Institute
The Levin Institute is a branch of the State University of New York dedicated to helping individuals and businesses manage effectively in the global economy. It offers graduate education in business and international relations, an array of professional education programs, conducts research on globalization, and presents public outreach programs in a technologically sophisticated, yet classic facility in midtown
About the Five Borough Economic
The Five Borough Economic Opportunity Plan is a comprehensive strategy to bring
# # #