Julie Samuels, Tech:NYC and New York's Innovation Economy

In this episode of Capital for Good we speak with Julie Samuels, the founder, president, and CEO of Tech:NYC, a network of technology leaders dedicated to fostering a dynamic, diverse, and creative New York. Launched in 2016, Tech:NYC operates at the intersection of business, government, academia, and philanthropy, convening leaders to strengthen New York's innovation economy through policy, partnerships, and programs.

We begin with some of Samuels's formative experiences at the intersection of technology and policy: a college internship at the National Center for Supercomputing Applications at the University of Illinois Urbana-Champaign, work as an IP lawyer and at the Electronic Frontier Foundation (EFF), and her leadership of Engine, the national nonprofit focused on technology entrepreneurship and advocacy. We also discuss the context and conditions that would inform the launch of Tech:NYC: the groundwork laid by the Bloomberg Administration to foster the growth of the city's tech sector, a critical mass of tech firms in the city, and industry leaders like Fred Wilson, Kevin Ryan and Tim Armstrong who recognized that better and coordinated leadership could help shape New York's continued growth as the country (and world's) number two tech hub behind Silicon Valley.

Samuels is passionate about the technology-city nexus. "Tech culture and tech zeitgeist really lend themselves to an urbanist way of seeing the world," she says. "People in tech have a systems framework, and big urban centers like New York are all about systems — think about things like public transit. This makes for natural connection between tech and urban centers." She notes that New York has been particularly successful in tech because of the diversity of its other industries: companies can apply and test technologies developed on the West Coast to other markets, from financial services and health care to real estate, hospitality, media, fashion, or wherever New York is the world's "center of gravity." According to Samuels, these dynamics underpin the sector's extraordinary growth: today technology is the city's fastest growing industry with over $30 billion in annual venture capital flowing to 25,000 startups and accounting for 300,000 jobs (64 percent growth over the last decade, 41 percent of net job growth since 2019) and nine percent of the Gross City Product. Samuels underscores the cultural reasons this growth is durable: "Tech is a creative industry," she explains. "It benefits