Silicon Alley rapid halt during the early 2000s recession. During this economic contraction, many internet companies in Silicon Alley folded. The recession also affected publications that covered the sector. After the dot-com bust, the "Silicon Alley Reporter" was rebranded as "Venture Reporter", in September 2001, and sold to Dow Jones. Self-financed AlleyCat News ceased publication in October 2001. A couple of years after the dot-com bust, Silicon Alley began making its comeback with the help of NY Tech Meetup, and NextNY. On December 19, 2011, then Mayor Michael R. Bloomberg announced his choice of Cornell University and Technion-Israel Institute of Technology to
Dubai Internet City Dubai Internet City Dubai Internet City (DIC) () is an information technology park created by the government of Dubai as a free economic zone and a strategic base for companies targeting regional emerging markets. The economic rules of DIC allow companies to avail themselves of a number of ownership, taxation and customs related benefits which are guaranteed by law for a period of 50 years. One model of operation includes 100% foreign ownership, similar to those prevailing in other designated economic zones in the United Arab Emirates. These freedoms have led many global information technology firms, such as Facebook, LinkedIn,