The NYCEDC report, released with NYU Steinhardt and StartEd Inc, provides the most recent insights on the multi-billion dollar education technology sector. Among other findings, the analysis found that edtech companies based in NYC offer increasingly high pay, have the most job opportunities, and were the subject of more business acquisitions than any other location including Silicon Valley, Boston, Los Angeles, and DC since 2000.
New York City-based EdTech firms have also received $1 billion in venture capital investment between 2008 and 2017, making up 12.5% of VC investment in EdTech across the country.
According to the analysis:
- Wages in Edtech continue to rise. Average wages in corporate training and computer training, two subsectors of EdTech, are $94,898. Total wages paid across these two sectors rose 63% since 2012.
- New York City has the most EdTech job demand of any major city in the U.S., with 105 positions open since the beginning of this year.
- 47 New York City EdTech companies have been acquired since 2000, the most of any city in the country. San Francisco/Silicon Valley had the second-most acquisitions in that time with 29. Boston had 20, Los Angeles 6.
- New York City-based firms received $1 billion in venture capital funding between 2008 and 2017. EdTech companies nationwide received $8.1 billion in investment during the same time period.
New York City is an increasingly visible and ideal location for education innovation because the city and its neighbors are home to the most significant learning infrastructure in the world including 55 public and private colleges and universities, 2,666 K-12 schools and nearly 2 million students, in additional to major publishers and growing general technology and venture capital sectors. Another important part of NYC’s role as an EdTech leader is NY EDTECH WEEK the industry’s global meeting point focusing on how entrepreneurship and edtech drive advancements in education and learning.
“New York City is the leading edtech innovation ecosystem because there is unprecedented support, investment and resources here,” said Deputy Mayor Alicia Glen, who will be presenting during NY EDTECH WEEK. “We are delighted to continue to have NY EDTECH WEEK as an important partner in growing the edtech sector here and around the world because of the attention it brings to the businesses, ideas and our community.”
The 2017 NY EDTECH WEEK festival will expand on past successful events and bring together hundreds of technology innovators, early-stage investors, entrepreneurs, policymakers, media representatives, researchers, and educators to foster new partnerships and exchange best practices for the tech-powered future of education.
“We’re developing a highly-skilled, highly-motivated army of edtech entrepreneurs in New York, the national center of education innovation,” said Jonathan D. Harber of StartEd. “It’s the perfect place to bring people, organizations and resources together to improve the opportunities and outcomes in the global education community -- that’s what NY EDTECH WEEK is all about.”
Highlights of 2017 NY Edtech Week include presentations on education and talent technology from K-12 to higher education, the future of work, global education trends as well as:
“StartEd Talks” including:
- Alicia Glen, Deputy Mayor of New York City
- Eva Moskowitz, CEO and Founder of Success Academy
- David Coleman, President and CEO of College Board
- Jeff Rosen, President & CEO of National Constitution Center
- Johnny C. Taylor Jr, President & CEO of Society for Human Resource Management
- Olga and Michael Block, Co-founders of Basis Curriculum Schools
- Eric Gertler, Co-Chairman & CEO of U.S. News & World Report and Ulysses Ventures
- Think Tanks in early learning, K12, higher ed and corporate learning with industry thought-leaders including esteemed members of the media, entrepreneurs, policy makers, researchers faculty and educators.
- “Shark Tank” style pitches from the hottest global startups representing the most exciting innovations today
- Master Classes led by faculty and PD accredited
- Open Lab intimate and interacitve visits to iconic and innovative New York education and cultural institutions
- Gallery of Innovation showcase and 1:1 networking with the hottest edtech startups from around the globe
- Broadway performances, and more!
In addition to its role as an innovation festival, NY EDTECH WEEK is also the culminating event for the NYU Steinhardt Edtech Accelerator powered by StartEd, an intensive three-month, mentor-led bootcamp program dedicated to education entrepreneurship and designed to help edtech entrepreneurs grow their companies. During the conference, participating startups from NYU-StartEd will be joined by other startups from around the world to present in front of a network of angel and venture capital education investors.
"We're excited to host NY EDTECH WEEK again this year and bring together some of the world’s best technology and education thought leaders working to improve and re-think how students learn and how we educate them," said Dominic Brewer, the Gale and Ira Drukier Dean of NYU Steinhardt. “NYU Steinhardt is at the intersection of education, technology, and entrepreneurship and we will continue to support the growing edtech industry in our home of NYC.”
NY Edtech Week is sponsored and presented in collaboration with Rethink Education, East Wind Advisors, Strada, Wiley and other sponsors. For more information about NY EDTECH WEEK, or to attend, please visit: www.nyedtechweek.com.
For more information about the NYCEDC EdTech analysis that will be released during NY EDTECH WEEK, please contact, Alicia Powers, SVP of Reaserch of the NYCEDC at email@example.com.
About StartEd Companies:
By galvanizing an eco-system of education innovation in New York City, StartEd aims to develop edtech entrepreneurs to tackle the world's greatest education problems. StartEd runs edtech accelerators, 3-month intensive bootcamps for early stage edtech companies, co-working communities for the edtech community, courses on edtech entrepreneurship and the NY EDTECH WEEK™ festival. For more information on StartEd Accelerator, please visit: http://www.startedaccelerator.com or follow us on Twitter @startedaccel
About the Steinhardt School of Culture, Education, and Human Development (@nyusteinhardt):
Located in the heart of Greenwich Village, NYU’s Steinhardt School of Culture, Education, and Human Development prepares students for careers in the arts, education, health, media, and psychology. Since its founding in 1890, the Steinhardt School's mission has been to expand human capacity through public service, global collaboration, research, scholarship, and practice. To learn more about NYU Steinhardt, visit steinhardt.nyu.edu.
Jordan Bennett, NYU Public Affairs