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"Small businesses are the future of America," said New York City Mayor Michael Bloomberg this morning at the TechCrunch Disrupt conference in NYC. Bloomberg described New York City as "the place to come" for entrepreneurs and startups, announcing that the city-sponsored NYC Entrepreneurial Fund had made its first investment in local startup MyCityWay.

Bloomberg also announced that the fund would be able to invest up to $22 million in startups thanks to a partnership with Firstmark Capital. The fund's first investment comes as $300,000 of a $500,000 seed round for MyCityWay, which won the NYC Big Apps competition last year.