International Cyber Center will provide unprecedented access to New York City’s robust business and municipal infrastructure to build the next billion-dollar company
NEW YORK, N.Y., February 3, 2020 – Leading international venture capital firm Jerusalem Venture Partners (JVP), today celebrated the grand opening of its International NYC Cyber Center in SOHO, together with the New York City Mayor’s Office and the Economic Development Corporation of New York (NYCEDC). The flagship Cyber Center, created through a unique partnership between local government, the private sector and academia, is set to give rise to a new international cybersecurity capital.
The JVP International NYC Cyber Center will provide a strong base for startups, connecting them to a cyber alliance including investors, multinational companies, leading executives, entrepreneurs, and universities within the New York ecosystem. With support from stakeholders across the city, startups in the Center will play a vital role not only in protecting cities, banks, utilities, and healthcare systems, but also democracies, the integrity of information, and the freedom of the individual. Moreover, it will provide these emerging businesses with a platform to develop the next groundbreaking innovation in cyber security.
“New York City is the financial and cultural center of the world, the hub of media and information- it can also become the technology hub of the world,” said Erel Margalit, JVP founder and Chairman, “The JVP International Cyber Center is a launching pad for innovative technologies, for a new era of cyber, moving from protecting countries and enterprises to defending democracies and individuals, creating companies that will change the world of tomorrow. In partnership with city of New York, the leading universities of the city, we will transform NYC into the cyber capital of the world. This is the start of the next chapter in the success story that is New York City.”
The Center will serve as an international platform, driving change and innovation by focusing on nurturing startups and creating the next billion-dollar companies in cybersecurity. Twenty-eight companies are already scaling within the Center – including Thetaray, Centrical, Coronet, and Quali – with many currently at $10 million in annual recurring revenue laying the groundwork for the creation of thousands of sought-after jobs as a result of the Center’s launch, attracting young minds from all over the world.
“New York City has quickly become the international capital for cybersecurity and a leader in tech innovation,” said Deputy Mayor for Housing and Economic Development Vicki Been. “As we build on this success, we’re excited to partner with JVP and launch a new cyber hub in New York City as part of our game changing Cyber NYC initiative. We look forward to collaborating on projects that help fuel the next generation of talent and create good jobs in New York City’s cybersecurity ecosystem.”
“Our vision to transform the city into the cyber capital of the world, combined with JVP’s experience in driving change through innovation, creates a formidable partnership that gives rise to the next wave of cybersecurity startup success stories,” said NYCEDC President and CEO James Patchett. “The opening of the new Cyber Center will link global cities and companies with New York City’s thriving cyber ecosystem and promises to create good jobs and innovative solutions in this booming field.”
In late 2018, JVP was chosen by the Mayor’s office to drive a $100 million initiative to transform NYC into a global leader for cybersecurity, resulting in the creation of the Cyber Center. Led by founder and chairman Erel Margalit, JVP’s work has helped major cities in Israel become global tech centers, from the Media Quarter in Jerusalem, food and agricultural innovation in the lush Galilee, cybersecurity in the southern capital of the desert Beer Sheba, and digital healthcare in the port city of Haifa. Since its founding in 1993, JVP has raised US $1.4 billion and has invested in more than 140 companies. Within the Center, JVP will nurture startups to help them scale, providing strategic guidance, business development support, funding, and access to leading universities such as Columbia, Cornell Tech, NYU, and CUNY.
The Grand Opening event will include the launch of the Margalit Startup City brand. The new brand represents a series of international innovation centers launched around the world, with Margalit Startup City New York being the anchor for global activity. The centers will focus on the ability to change reality by connecting innovators, bringing millennials and younger generations to cities, all while creating thousands of job opportunities that leverage the social economic aspects of each city. With belief in the power of people, the centers will connect the designers, philosophers, musicians, mathematicians, and storytellers of the world to advance innovation and creativity.
About Jerusalem Venture Partners (JVP)
Jerusalem Venture Partners (JVP), was founded and led by Dr. Erel Margalit, is an internationally renowned venture capital fund. JVP has to date raised $1.4 billion across 9 funds, and has been listed numerous times by Preqin, and other rankings, as one of the top-ten consistently performing VC firms worldwide. JVP has built over 140 companies, leveraging a broad network of partners and market expertise to help companies become global market leaders. JVP has been chosen by Ney York City and EDC to lead the cyber security cyber huh in NYC. Among the pioneering firms of the Israeli venture capital industry, JVP has been instrumental in building some of the largest companies out of Israel, facilitating 12 Initial Public Offerings on NASDAQ including CyberArk Software (NASDAQ: CYBR, $4.7 billion mkt. cap.), QLIK Technologies (NASDAQ: QLIK, then $4 billion mkt. cap.) and Cogent Communications (NASDAQ: CCOI, $3 billion mkt. cap.) and more https://www.jvpvc.com/
About Economic Development Corporation of New York (NYCEDC)
New York City Economic Development Corporation creates shared prosperity across New York City’s five boroughs by strengthening neighborhoods and creating good jobs. NYCEDC works with and for communities to provide them with the resources they need to thrive, and we invest in projects that increase sustainability, support job growth, develop talent, and spark innovation to strengthen the City’s competitive advantage. To learn more about our work and initiatives, please visit us on Facebook, Twitter, or Instagram.