Launch NY

This EDA investment will support #InvestLocal Scale Up, a project designed to tackle the problem of capitalizing innovative startups at the pre-seed and seed stages in and around Buffalo, Binghamton, Ithaca, Rochester, and Syracuse to increase the impact and the sustainability of capital access in the region. The #InvestLocal Scale Up project will provide direct access to increased seed funding in the region, while helping companies to attract a projected 30x in capital from other funders. The #InvestLocal programs also benefit the region by providing a variety of financing structures that accommodate institutional investors seeking to dedicate funding to support target businesses, such as those led by underrepresented founders. The Project builds upon LaunchNY’s (LNY) proven infrastructure: a) high volume capacity and track record of deploying investment capital to an average of 2-4 companies/month fueled b) a robust pipeline of 300 companies mentored annually, c) investment processes that have been refined over the past 6 years to include robust portfolio management practices, d) fundraising success for its first For Profit LP Fund I and Investor Network, even in the midst of the pandemic, and, d) strong ecosystem partnerships.