“Silicon Alley 2.0 Emerges from Rubble of Internet Bust,” proclaimed the New York Sun’s coverage of a recent forum on the “the resurgence of a significant web-based sector” in New York City. According to the news story, “the city’s new web entrepreneurs are older, experienced, and more focused on long-term profits” - but still playing “second fiddle to the West Coast.”

Titled Silicon Alley 2.0: Emerging Shape, Impact and Future Directions, the event was co-produced by the Institute for Technology & Enterprise and Trylon SMR, and sponsored by Polytechnic University and the Partnership for New York City, with the Hearst Corporation and NYConvergence.

This “official” launch event of the new Silicon Alley included entrepreneurs, scholars and venture capitalists took place at the new Hearst Tower reflecting how emerging tech innovators are moving uptown and partnering with established media companies. Panelists focused on how New York can distinguish itself as a viable location for the future YouTube’s and MySpace’s of the world.

Jason Rapp, senior vice president of mergers and acquisitions for InterActiveCorp (IAC), pointed to the presence of big traditional media companies in the Big Apple. As reported in The New York Times’ "Dealbook" blog, Rapp said that Silicon Alley might gain a better foothold as large media companies look to smaller local companies to solidify their Internet strategies.

The Click Z news blog took this a step further, emphasizing the city’s role as “ground zero of advertising and media.” “There are plenty of places with universities, lawyers, banks, VCs, and broadband,” red the post. “(But) Madison Avenue doesn’t exist anywhere else, ditto New York’s concentration of broadcasters and publishers.”

We agree with Click Z about the city’s need to market its unique characteristics to the tech sector, and feel the Silicon Alley 2.0 discussion represented a major step forward in advancing the discussion. Besides Rapp, other panelists included Alejandro Crawford, CEO of Nolej Studios; Kenneth A Bronfin, president of Hearst Interactive Media; Charlie Federman, managing partner of Crossbar Capital; and Steven Spencer, CEO of UPOC Networks.

While disagreeing on some points, none of them disputed that New York City already hosts a thriving Internet industry – with about 3,000 companies employing some 200,000 people. Crawford extolled the virtues of “scrappy” integrated firms, where creative, technology and marketing people “think together.”

To that, we’ll add media relations professionals. Trylon SMR is headquartered in New York, the world’s media capital, for precisely the reasons Click Z noted .

Video excerpts of the event’s introductory remarks are available at NYConvergence.