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Does New York have a competitive advantage when it comes to venture capital? Silicon Valley has the critical mass of connections, corporations, universities and history. Boston has MIT and stately venture firms. So, I asked members of the Digital NYC panel at The Deal's Convergence 2.0 conference yesterday what they viewed as the Big Apple's edge.

Neal Goldman, CEO of Inform. com, said New York is underinvested. This was a sentiment seconded by Scott Kurnit, chairman of Kurnit Inc., who noted that when he founded About.com, he had to go outside of New York for venture funding. Kurnit added that New York is also particularly strong in the media, advertising and finance industries.

One other point mentioned by Goldman was that an entrepreneur can build a startup without ever really leaving the city. Referring to his days at CapitalIQ, he said "I didn't need to leave the the island [of Manhattan] to generate $100 million in sales. You can build a company within 10 miles of your office."

That is, if you can raise money for the company in the first place.

For more on the Convergence 2.0 conference, see:
Chase Norlin
Tech Confidential blog
Tech Effect blog

Technorati tags: the+deal, convergence+2.0, convergence2.0.

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