About 40 percent of venture funding occurs in Silicon Valley, twice the amount in New York and New England combined. Firms such as Union Square Ventures and Spark Capital have spent years trying to revive the East Coast technology industry.
Universities also are tapping into New York’s blossoming technology scene. Cornell University and Technion-Israel Institute of Technology are developing a technology campus on Roosevelt Island. The universities won a contest last year to build the campus with a land grant and $100 million for infrastructure improvements.
Helicopter Technology
Oringer’s favorite piece of technology, apart from a photo camera, is the AS350 B3 AStar Eurocopter helicopter that he owns.
“I don’t own a helicopter because I want someone to bring me places quickly,” he said. “I own it because it’s an incredible machine that I like to fly and learn about. I like the complexity of it.”
Oringer said he has no plans to vacate Manhattan by chopper for the West Coast.
“I’ve little in common with the scene in Silicon Valley and San Francisco,” he said. “I’m a New Yorker.”