The New York Software Industry Association will close its startup incubator in the Financial District, Crain’s reports. The office was seeded with $150,000 from the Empire State Development Corp. and the building owner, Rudin Management. But when the money ran out, NYSIA couldn’t get enough funding from the private sector to keep the incubator running. At peak, it housed 15 startups.
Separately, Crain’s says, the 500-member NYSIA might restructure itself as government grants decline.
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