CRAINSNEWYORK.COM I MARCH 11, 2024
HEALTH CARE
NYC nets half of all women’s health tech funding in the U.S. The city also saw a fifth of female tech deals in 2023, became a hub in the sector, report says loitte report, told Crain’s. Success among women’s digiNew York City was home to a tal health firms largely bucks a fifth of all women’s health tech trend of declining funding in the deals that occurred in the U.S. digital health sector since the last year, cementing the city as a pandemic. But despite the 27% hub for up-and-coming firms fo- national funding decline in overcused on pregnancy, fertility and all health tech funding between reproductive health, according 2022 and 2023, investments in women’s health into a report released by novation grew by 5%, Deloitte last month. BY THE the Deloitte report The five NYC-based NUMBERS found. Radin said women’s digital health that although that companies that reached growth seems small, deals in 2023 raised a Amount raised it signals optimism combined $256 million by NYC-based for entrepreneurs — half the total raised women’s digital seeking solutions for by companies across health women in medicine, the U.S., the data shows. companies in who are already unJennifer Radin, prinderrepresented. cipal of life sciences and 2023 Experts say that the health care at Deloitte, said that the city’s progressive burgeoning women’s digital workplace culture and large health sector in New York is not health care industry makes it only due to a rich network of inmore attractive to women’s digi- vestors, but also the massive tal health startups. Health care health care infrastructure. The makes up 16% of the city’s GDP, city has more than 200 hospitals and a large workforce of physishe added. “No other urban setting had cians, nurses, technicians and nearly that number of deals,” Radin, who co-authored the DeSee WOMEN’S on Page 22 By Amanda D’Ambrosio
$256M
An Uber client exits a Tesla. | BUCK ENNIS
PULLING THE PLUG The city says no more Uber or Lyft vehicles are needed after a surge in licenses issued for electric-vehicle cabs | By Caroline Spivack
A
fter issuing thousands of new licenses to cabbies for electric vehicles, the city’s Taxi and Limousine Commission says it is hitting the brakes. TLC officials declared in a new review of driver permits, which was quietly published on its website March 1, that “additional forhire vehicle licenses are not needed at this time.” The determination sides with the New York City Taxi Workers Alliance, which opposes additional electric vehicle licenses for Uber, Lyft and other fleet drivers; a TWA lawsuit
to block new electric vehicle plates is now essentially moot. “The rush on EV licenses generated by the opening and subsequent pause on applications led to rapid growth in the number of EVs across the TLC fleet,” the TLC report states. As of early February, TLC data shows that the city has more than 9,500 licensed electric for-hire vehicles — roughly 7,800 of which, or 82%, were issued over the last year. Bhairavi Desai, executive director of the New York Taxi Workers Alliance, argues that “the TLC
MORE HEALTH CARE COVERAGE PAGE 17 ◗ Resistance mounts to SUNY Downstate closure plan. ◗ Hochul earmarks $20M to expand subway outreach program.
has already done damage to the drivers by allowing so many new vehicles.” Desai pointed to TLC data showing that in December 2023 the number of Uber and Lyft vehicles active daily increased by roughly 13% year-over-year. In December 2023 individual drivers had 7% fewer trips compared to December 2022, she said. “The fact that drivers are earning less trips means that they have to work longer hours,” Desai See TAXI on Page 22
Gina Bartasi founded Kindbody to make fertility treatment more accessible. | BUCK ENNIS
VOL. 40, NO. 10 l COPYRIGHT 2024 CRAIN COMMUNICATIONS INC. l ALL RIGHTS RESERVED
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REAL ESTATE This could be the year that New York City puts limits on broker fees.
CHASING GIANTS FiDi startup Salt Labs has a bold plan for employee retention.
GOTHAM GIG From writing a ‘notorious’ column to being a city press aide.
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