New York City Economic Development Corporation Accepting Nominations for Fourth Class of NYC Venture Fellows
Prestigious Year-Long Fellowship Program, Now Managed in Partnership with 92nd Street Y, Connects Entrepreneurs from Around the World with Mentors from Leading Companies
Previous Fellows Include Leaders of Prominent NYC Start-Up Companies SecondMarket, Warby Parker, and comiXology
Last week, New York City Economic Development Corporation (NYCEDC) and 92nd Street Y (92Y) announced that nominations are open for the fourth class of NYC Venture Fellows, a year-long fellowship program to establish the next generation of leading entrepreneurs in New York City. Originally established in 2010, this selective, international program provides successful entrepreneurs with opportunities to grow their ventures by connecting them with mentors from leading companies and providing exclusive CEO-level networking and educational opportunities. NYC Venture Fellows is designed for entrepreneurs whose businesses are at a critical stage in development, when the companies have the potential to substantially increase their number of employees and make a significant impact on New York City's economy. The nomination period for the newest class of fellows will run until November 15, 2013 at www.nycventurefellows.org.
"NYC Venture Fellows has proven to be a catalyst for linking startup companies in New York City with established, successful businesses in order to maximize their potential and impact," said NYCEDC President Kyle Kimball. "The fourth year of this program will build upon past success, allowing these global entrepreneurs to grow and thrive in our City."
92Y, NYCEDC's new partner for NYC Venture Fellows, brings a host of resources and networking opportunities to NYC Venture Fellows, as well as the mentors and alumni of the program, who are all encouraged to attend 92Y's robust schedule of talks, lectures, classes and other events throughout the year.
"92Y is proud to be an incubator for both innovation and the entrepreneurial spirit," said Henry Timms, Interim Executive Director of 92Y. "We are thrilled to be working with NYCEDC to nurture a community of business innovators who can generate fresh ideas to drive New York City's economic and creative engine."
Candidates must be nominated for the program; they are then asked to submit an application, which is evaluated by representatives from NYCEDC, 92Y, and a committee of global and New York City industry leaders chaired by Stuart Ellman, Co-Founder and Managing Partner of RRE Ventures and President of 92Y's Board of Directors. Final selections are expected in December 2013.
Ideal candidates for NYC Venture Fellows:
- Are a Founder or CEO of a fast growing company;
- Have a history of extraordinary achievement, substantial leadership, and demonstrated global perspective;
- Would benefit from CEO-level mentorship and the opportunity to learn from and contribute to a group of fellow founders and CEOs of fast-growing companies; and
- Are based in NYC or have plans to expand a global venture to NYC.
Once selected, NYC Venture Fellows are paired with mentors with whom they will meet regularly over the course of the year. The mentors will provide guidance to the Fellows on managing their companies, helping them address both acute and longer-term strategic challenges. Fellows also benefit from being part of an exclusive peer network comprised of leaders of fast-growing companies.
"If you're building a business and you need to accelerate, Venture Fellows is the program that can help that happen," said Shane Snow, a 2013 Fellow and Co-founder of Contently. "It instantly plugs you in to the most powerful network that there in New York City."
The inaugural class of NYC Venture Fellows in 2010 consisted of 21 fellows from some of New York City's fastest growing ventures including Foursquare, Etsy and SecondMarket. Other fellows were international digital media pioneers, nonprofit entrepreneurs, and cleantech innovators from countries including China, Germany and India. In 2012, the second class of venture fellows included the leaders of fast-growing NYC-based ventures such as Rent the Runway, Warby Parker and Lot18. Other international fellows included entrepreneurs from countries including China, Switzerland and Ethiopia. The 2013 class of Venture Fellows included companies like Codecademy, Songza and comiXology, all of whom, in addition to mentorship, attended a series of events, including CEO breakfast roundtables; networking events with local and international entrepreneurs, program stakeholders, and other business leaders; and other New York City industry and cultural events.
NYC Venture Fellows is part of the Bloomberg Administration's efforts to encourage entrepreneurship within a variety of sectors. With a growing network of incubators around the City, the Administration is providing low-cost office space, as well as training and networking opportunities, to hundreds of start-ups and small businesses. In addition, the City has invested in several major initiatives to build the pool of talent available to NYC start-ups, including the landmark Applied Sciences NYC and Cornell NYC Tech campus, as well as the Tech Talent Draft, which connects start-ups with science and engineering students from top universities across the country.
For more information on the NYC Venture Fellows program and to submit a nomination for the 2014 class, go to www.nycventurefellows.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 New York City's many opportunities.
About 92Y
92Y is a world-class nonprofit community and cultural center that connects people at every stage of life to the worlds of education, the arts, health and wellness, and Jewish life. Through the breadth and depth of 92Y's extraordinary programs, 92Y enriches lives, creates community and elevates humanity. A community of communities, 92Y is a home for candid, thoughtful discussions on the most pressing issues of our time. We offer an outstanding range of experiences in the performing, literary and visual arts for both audiences and practitioners; unparalleled access to celebrated artists, teachers and thinkers; and a place to pursue personal journeys – spiritual, physical or intellectual. More than 300,000 people visit 92Y in New York City annually and many more connect through digital and social media, live webcasts of events, and an extensive archive of stage programs and original content produced for the web, all available on 92YOnDemand.org. A proudly Jewish organization since its founding in 1874, 92Y embraces its heritage and enthusiastically welcomes people of all backgrounds and perspectives.