In Crain’s New York Business article, Todd Khozein, CEO of SecondMuse, shares powerful insights on how the U.S. can lead the global climate tech transition, using New York’s thriving ecosystem as a model.
At SecondMuse, we have seen firsthand how New York has emerged as a climate tech hub through sustained efforts to build a collaborative ecosystem. By fostering connections between entrepreneurs, investors, and policymakers, the city has attracted $664 million in climate tech funding and created over 133,000 jobs. Programs like Scale for ClimateTech, which we administer alongside NextCorps, provide vital technical support and mentorship to help startups scale innovations in areas like renewable energy and sustainable manufacturing.
A key factor in New York’s approach has been adapting policies to meet the real needs of entrepreneurs. Tax incentives, while useful in the past, were replaced with more effective solutions like access to prototyping spaces in the Brooklyn Navy Yard and other industrial areas, helping climate tech startups accelerate product development. These policies are not just reactive; they serve as market signals, encouraging innovation by setting ambitious climate goals, such as achieving zero-emission electricity by 2040.
Replicating New York’s model across the U.S. involves more than just policy changes. Cities and states need to develop local ecosystems that connect entrepreneurs with investors, mentors, and policymakers.