Fuhgeddaboudit. There’s something happening in Brooklyn…
There’s the Brooklyn Tech Triangle, there’s the Brooklyn Tech Meeetup, which boasts nearly 3000 members, and there’s even a VC firm based in Brooklyn – appropriately named Brooklyn Bridge Ventures.
According to AngelList, the average pre-money valuation for a Brooklyn startup is $5M, which is 14% higher than their counterparts across the East River. Startups growing tired of the increasing rents and lack of available space to house teams in Manhattan are moving to Brooklyn in growing numbers. New startups are launching almost daily in Brooklyn, allured by affordable housing, good schools, a bustling dining scene in addition to reasonable rents. Tech employee satisfaction in the borough has never been higher.
These quality of life factors combined with improvements in infrastructure have allowed Brooklyn to become a destination to build a world-class startup over the last few years. Brooklyn-based Etsy went public earlier this year; recently acquired MakerBot calls Brooklyn home as well. Now, we shine a spotlight on some of the startups that are paving the way for Brooklyn to be a fertile ground of startup activity.
Founder’s note: As always, this list is in no particular order nor is it a ranking. In fact, the =RAND() function on excel was used to determine order. AlleyWatch does not have a financial relationship with any of the companies included. However, I did back a Kickstarter campaign for the Half Bike II recently and am still awaiting its delivery.