Owen Brunette

Bloomberg has announced  a series of actions to assist ex-Wall Street executives start businesses:

• Low-cost incubator office space (160 Varick Street, Beginning March 1, from $200 per person per month; 90 John Street that will open in April etc.)
• A NYC angel investment fund: New York City will create several funds totaling between $9 million and $10 million to make angel investments of $20,000 to $250,000 each.
• An annual international financial services business plan competition
• A “VC Connect” online information portal and VC support services
• FastTrac, a business training program to help emerging and existing entrepreneurs.
• JumpStart NYC, a free job training and placement pilot program
• Incentives for financial services companies locating in lower Manhattan
• The city will work with established and developing exchanges like the New York Mercantile Exchange’s Green Exchange and SecondMarket (Carbon credits etc.)
• An international recruitment campaign attracting commercial banks and insurance companies headquartered in China, India and other developing economies.
• Financial Services Advisory Committee to be led by Deputy Mayor Lieber that will meet regularly through 2009 to maintain a dialogue between City Hall and the industry, as well as within the industry.
• Regulatory advocacy: Bloomberg has tasked Deputy Mayor Lieber and EDC President Pinsky to work with the Financial Services Advisory Committee

More details here.

New York bloomberg, nyc, vc