as Nick Saint notes<\/a>, New York \u2014 which has traditionally been viewed as a little brother to Boston on the tech scene \u2014 is now #2 in terms of new startups, while Beantown is a distant fourth.<\/p>\nThe .4 billion in funding recorded in Q3 2010 is a drop from last quarter and a well below the .1 billion from this time last year.<\/p>\n
But New York is benefiting from an explosion in early stage seed funding, which has grown tenfold since this time last year.<\/p>\n
The small, agile, web-based firms that can afford to operate in the Big Apple’s pricey real estate market are taking home a much bigger chunk of overall VC funds. <\/p>\n
Add in the fact that advertising, one of New York’s strong suits, is the best funded sector in tech and the report is an strong endorsement of Silicon Alley’s future.<\/p>\n
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