Bloomberg: Startups From Incubator Have Raised $38 Million In Venture Capital

NEW YORK (CBSNewYork) - A small investment from the city is paying major dividends, and Mayor Bloomberg hasn’t been shy about touting it.

The mayor says that New York’s very first city-sponsored, small-business incubator has had remarkable results from its home in Hudson Square, reports WCBS 880′s Rich Lamb.

“A total of 22 new companies that have incubated here have either already left their nests here on Varick Street or will be leaving between now and July,” Bloomberg announced on Tuesday. “They’re all going to be establishing themselves throughout the five boroughs.”