NYCEDC

Dec
17

Why Broadband Is Good for Business

There are just 10 days left to get in your application for the ConnectNYC Fiber Challenge.

As the submission period comes to a close, we want to emphasize the importance of high-speed broadband and the impact that it can have on businesses in New York City.

Improving the city’s broadband infrastructure

Here’s a short paragraph on why the ConnectNYC Fiber Challenge is important, in the words of venture capitalist Fred Wilson. (If you haven’t read Fred’s full blog post on the ConnectNYC Fiber Challenge, definitely check it out.)

“In addition to getting a lot of local businesses high speed broadband, this contest will also give an indication to the city and local ISPs of where the most important neighborhoods are for broadband buildout. We spend a lot of time with our portfolio companies dealing with infrastructure issues around real estate and broadband and I can tell you that this is big problem in NYC. Companies that want to move to low cost neighborhoods with interesting buildings like Red Hook, Gowanus, Vinegar Hill, the Greenpoint waterfront, Long Island City, and other similar places simply cannot do that due to the lack of good broadband. If the city wants to see these neighborhoods emerge commercially, they will need to deal with the broadband problem. ConnectNYC is a nice way to get going on the problem.”

NYCEDC President Seth Pinsky agrees:

“In recent years, New York City has emerged as a global hub of technology and innovation. The ConnectNYC competition is the next important step in our efforts to build upon this momentum, expanding broadband connectivity across the City and ensuring that our broadband infrastructure meets the needs of our businesses throughout the 21st Century.”

If your business could benefit from faster internet, we urge you to enter the ConnectNYC Fiber Challenge (and spread the word to your friends)! If you haven’t already, take a look at the submission form and start drafting your answers today.