For biotech startup founder Piraye Yurttas Beim, leaving New York City is often tempting.
"Every month we've been here I've considered it," she said. Tax incentives from nearby states, New York's high bar when it comes to regulating labs, lack of access to top healthcare investors, and more space have all been enticing reasons to head elsewhere. But she's stuck it out.
Beim, the CEO of personalized reproductive-health startup Celmatix, has kept her company's headquarters in Manhattan for the past 9 years, despite Hurricane Sandy causing them to lose access to servers and their office in 2012 and resorting to sawing down employees desks as the company doubled in size so that they could stay in their current workspace.
Beim says despite these challenges she's committed to staying in New York because of its proximity to top reproductive health facilities, such as Weill Cornell and Reproductive Medical Associates, which give Celmatix a strong pool of talent to recruit from. Celmatix makes a software that collects clinical data for fertility clinics and has a genetic test that screens for risk factors associated with female fertility.
"Because of the clinics and research partners here, we're here," she said. "We're going to find a way to make it work."
Beim isn't alone. About 150 biotechs now call the Big Apple home. While New York is historically known as a leader in industries like fashion, finance, and media, and still lags way behind biotech hubs like San Diego and Boston, the city is slowly making a name for itself.