NYCEDC is a nonprofit organization that serves as the city's official economic development organization and aims to support economic growth. The mayor appoints its president. NYCEDC has issued recommendations on how to advance the city’s position as a global AI leader, and this week’s announcement builds on that goal. Other cities, like San Jose, Calif., are also seeking to attract AI businesses through local initiatives like its AI Incentive Program.
The NYCEDC International Landing Pad Network (ILPN) aims to attract growth-stage international companies to expand their businesses in New York City, identify new investment sources, enhance the city’s business infrastructure and competitive economy — and position New York City as a key U.S. market entry point for international businesses. ILPN was initially introduced in January as a program under the city’s “Race for Space” strategy, which is intended to revitalize city office space with a goal of seeing 50 million square feet of office space leased by the end of 2025.
NYCEDC’s selection of four partners — each of which will operate one of four concurrent programs — serves as the official launch of the ILPN. Each operator will host a cohort of companies operating across growing sectors, including technology, AI, and the green economy.
“With the International Landing Pad Network, the city will attract over 50 companies to New York City and send one clear message to the world: now is the time to bring your business to the Big Apple,” Deputy Mayor for Housing, Economic Development, and Workforce Adolfo Carrión Jr. said in a statement.
The four operators NYCEDC chose are 1) Plug and Play, an innovation platform that will partner with Cornell Tech to focus on health and sustainability; 2) Supermomos, a technology startup that will partner with Lightspeed Ventures for an AI-focused program; 3) SOSA, a global technology management company that will support advanced technology and green economy startups; and 4) The Clean Fight, an organization backed by the New York State Energy Research and Development Authority, which aims to accelerate the green economy in the city.
“The next global giants may be founded elsewhere, but they’ll scale in New York,” Edwina Yeo, Supermomos co-founder and CEO, said in a statement.
The companies participating in these cohorts will benefit from access to co-working space, business development support, connections with potential customers or investors, and access to events over the course of 12 months.
This fall, applications will open for growth-stage international companies interested in participating in one of these cohorts. This includes companies generating $5 million in year-over-year revenue, or those with the capital needed to build a team of at least five employees in the city within approximately two years.
Each of the selected operators will work together to create this coordinated network across the city. Lessons learned through this initial network are expected to inform the city’s future efforts to attract and retain international businesses.
In 2024, total foreign direct investment in the city was $4.9 billion, per the announcement. The timing of the ILPN launch precedes the city’s Climate Week NYC 2025, which will take place next week in partnership with the United Nations General Assembly. The event is run in coordination with the United Nations and the city of New York.
