Reuters reported that recession-stricken New York City plans to double its current green work force by creating over 13,000 new jobs in the next decade, partly by competing with London to become the new center for carbon trading, a city official said on Wednesday.
London, whose prominence as a financial capital rivals New York City and Tokyo, got an early lock in trading pollution credits by training lawyers, accountants and other experts "before the market even existed," Seth Pinsky, president of the Economic Development Corporation, told Reuters.
New York City's new boot camp in green finance will be run by the State University of New York's Levin Institute. It will be open to laid-off workers or future entrepreneurs, much like an already "booming" incubator for financial start-ups, Pinsky said.
Mayor Michael Bloomberg, who made his first fortune as a Wall Street bond trader before getting into politics, is expected to announce on Thursday this green job branch to his two-year-old PlaNYC program, which set ambitious goals for reducing greenhouse gases, planting 1 million trees and crowning skyscrapers with wind turbines.
The mayor's $7.5 million green jobs plan will call on Columbia University to help offer public school pupils "hands-on" learning in energy efficiency, according to Bloomberg, who is running as an independent candidate for a third term. His plan also will create an Urban Technology Innovation Center to tap academic research. Existing city and state funds and federal stimulus dollars will pay for it. Read more here.
Sunday, October 25, 2009
Tuesday, October 13, 2009
New York Entrepreneur Week Launches the Most Encompassing Entrepreneurial Movement in New York State History
-- Today marks the official launch of New York Entrepreneur Week (www.nyew.org), the first and largest statewide movement unifying the most important entrepreneurial groups with the vastly diverse entrepreneurial community. Taking place from November 16-20, 2009, NYEW will feature 350 all-encompassing events including; keynote speeches from recognized business leaders, expert panels offering relevant mission-critical advice, third party events and the movement's flagship RELENTLESS business plan competition.
Unlike diluted start-up or small business events, NYEW is New York State's premier forum joining together founders, angel investors, venture capital firms and top connectors from around the world and across diverse industries. NYEW brings together groups ranging from enterprising young idea-stage innovators to hundred million dollar revenue generators. The NYEW movement provides the framework and catalyst for conquering New York's economic challenges by aggregating disparate entrepreneurial stakeholders from around the state with remarkable entrepreneurs from around the world.
NEWS FACTS:
-- Featured, confirmed speakers include:
- David S. Rose, Founder of Rose Tech Ventures, Chairman & CEO of Angelsoft
- Marc Ecko, Chairman & CEO of Marc Ecko Enterprises
- Steve Mariotti, Founder of the Network For Teaching Entrepreneurship (NFTE)
- Alexandra Wilkis Wilson, Co-Founder & CMO of Gilt Groupe
- Barry Silbert, Co-Founder & CEO of SecondMarket
- Scott Heiferman, Co-Founder & CEO of Meetup.com
-- NYEW is a 501c(3) non-profit organization founded by 26-year-old serial entrepreneur Gary Whitehill. Inspired by the TED conference and Renaissance Weekend, Whitehill is empowering entrepreneurs from around the world to "Stand Up and Come Together" at the worldwide hub of business, commerce and innovation.
-- NYEW is the largest aggregator of entrepreneurial events in the world during Global Entrepreneurship Week, slated to have over 350 events throughout Manhattan, Brooklyn, Queens, the Bronx, Syracuse, Rochester, and Binghamton.
-- NYEW is the only event in New York State to unite entrepreneurs with real, local, regional and international funding sources. These groups include: angel investors, venture capital firms, banks as well as non-profit and public sector agencies.
Read more here.
Unlike diluted start-up or small business events, NYEW is New York State's premier forum joining together founders, angel investors, venture capital firms and top connectors from around the world and across diverse industries. NYEW brings together groups ranging from enterprising young idea-stage innovators to hundred million dollar revenue generators. The NYEW movement provides the framework and catalyst for conquering New York's economic challenges by aggregating disparate entrepreneurial stakeholders from around the state with remarkable entrepreneurs from around the world.
NEWS FACTS:
-- Featured, confirmed speakers include:
- David S. Rose, Founder of Rose Tech Ventures, Chairman & CEO of Angelsoft
- Marc Ecko, Chairman & CEO of Marc Ecko Enterprises
- Steve Mariotti, Founder of the Network For Teaching Entrepreneurship (NFTE)
- Alexandra Wilkis Wilson, Co-Founder & CMO of Gilt Groupe
- Barry Silbert, Co-Founder & CEO of SecondMarket
- Scott Heiferman, Co-Founder & CEO of Meetup.com
-- NYEW is a 501c(3) non-profit organization founded by 26-year-old serial entrepreneur Gary Whitehill. Inspired by the TED conference and Renaissance Weekend, Whitehill is empowering entrepreneurs from around the world to "Stand Up and Come Together" at the worldwide hub of business, commerce and innovation.
-- NYEW is the largest aggregator of entrepreneurial events in the world during Global Entrepreneurship Week, slated to have over 350 events throughout Manhattan, Brooklyn, Queens, the Bronx, Syracuse, Rochester, and Binghamton.
-- NYEW is the only event in New York State to unite entrepreneurs with real, local, regional and international funding sources. These groups include: angel investors, venture capital firms, banks as well as non-profit and public sector agencies.
Read more here.
Tuesday, October 6, 2009
New Model for Business?
Board Cafe's publication Blue Avocado offered information on a new development for businesses. As the article relates:
For-profit companies continue to seek ways to obtain two benefits that are usually reserved for nonprofits: foundation grants and government tax exemptions. These efforts are led by both well-meaning individuals as well as those that simply want funding without communityaccountability. Regardless, they offer risks and challenges to the nonprofit sector as we know and celebrate it. Rick Cohen tells us of one such effort that appears -- in the absence of opposition -- to be headed for adoption.
The hot topic in foundation circles is the L3C: the low profit limited liability corporation, the latest development in social enterprise. Several states are legalizing L3Cs and accompanying tax and philanthropic benefits, and its backers are pitching them for federal approval.
L3Cs are profit-making corporations, but their owners don't identify profit as their primary purpose. The mission of an L3C is a social benefit, doing socially productive and useful things, and only then earning a profit.
At the national level, the Council on Foundations has been actively promoting L3Cs, on Capitol Hill for the past two years. Already in four states and two tribes, individuals can form L3Cs and attract various types of investors, and, because of their charitable missions, tap into foundation loans and guarantees. At least they will be able to if Congress passes legislation giving blanket approval for such loans, or if the Internal Revenue Service (IRS) issues a ruling authorizing them.
There may be some sound reasons for the creation of hybrid models melding features of nonprofits and for-profits, hopefully helping localities and states attract new sources of capital for critical economic and environmental ventures. But states, Congress, and the nonprofit sector might want to be cautious about this social enterprise innovation. Read more here.
For-profit companies continue to seek ways to obtain two benefits that are usually reserved for nonprofits: foundation grants and government tax exemptions. These efforts are led by both well-meaning individuals as well as those that simply want funding without communityaccountability. Regardless, they offer risks and challenges to the nonprofit sector as we know and celebrate it. Rick Cohen tells us of one such effort that appears -- in the absence of opposition -- to be headed for adoption.
The hot topic in foundation circles is the L3C: the low profit limited liability corporation, the latest development in social enterprise. Several states are legalizing L3Cs and accompanying tax and philanthropic benefits, and its backers are pitching them for federal approval.
L3Cs are profit-making corporations, but their owners don't identify profit as their primary purpose. The mission of an L3C is a social benefit, doing socially productive and useful things, and only then earning a profit.
At the national level, the Council on Foundations has been actively promoting L3Cs, on Capitol Hill for the past two years. Already in four states and two tribes, individuals can form L3Cs and attract various types of investors, and, because of their charitable missions, tap into foundation loans and guarantees. At least they will be able to if Congress passes legislation giving blanket approval for such loans, or if the Internal Revenue Service (IRS) issues a ruling authorizing them.
There may be some sound reasons for the creation of hybrid models melding features of nonprofits and for-profits, hopefully helping localities and states attract new sources of capital for critical economic and environmental ventures. But states, Congress, and the nonprofit sector might want to be cautious about this social enterprise innovation. Read more here.
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