Launch NY Reflects on 2024 Milestones: $14.75 Million Invested, 100 Companies Funded, and Continued Growth in Upstate NY

As 2024 draws to a close, Launch NY celebrates another year of impact, reaching key milestones that underscore its role as the most active seed stage investor in New York State startups. From surpassing $14.75 million in total investments to mentoring more than 400 startups, Launch NY continues to drive equitable economic development and support high-growth startups across Upstate NY—while giving accredited investors the opportunity to “do good while doing well” financially.

Let’s take a look at some key highlights from our journey this year.

Investing in Upstate NY’s Innovation Economy

In 2024, Launch NY reached a significant milestone by investing in its 100th portfolio company, demonstrating ongoing support for high-potential startups across diverse sectors, including clean tech, food & beverage, and advanced manufacturing. This achievement has contributed to total investments of $14.75 million since 2016.

2024 Investment Highlights:

  • Nonprofit Seed Fund: 20 deals totaling $1.175 million
  • LP Fund I: 3 follow-on investments totaling $125,000
  • LP Fund II: 13 deals totaling $1.24 million

One notable achievement was the acquisition of Dimien—a standout company in our portfolio—by Pure Lithium, a larger business based in Massachusetts. This major success story showcases the potential of startups in our region to attract national attention and achieve meaningful exits. Dimien’s innovation in advanced materials reflects the value of the mentorship and funding support provided through our InvestLocal financing programs.

This acquisition underscores the significant impact our portfolio companies are making in their industries and further fuels our mission to drive economic growth and innovation across Upstate New York.

Investor Network Growth

Launch NY’s Investor Network reached new heights in 2024, closing 3 deals totaling $225,000 and welcoming 42 new accredited investors, bringing the network to 345 members.

2024 Investor Network Deals:

  • Verivend: $125,000
  • PostProcess Technologies: $50,000
  • Edenesque: $50,000
  • 3AM Solutions: Pending

Our Investor Network continues to provide accredited investors with exclusive access to pre-vetted, high-growth startups in Upstate NY, with no membership fees and no obligation to invest.

Mentorship and Entrepreneur Support

Supporting entrepreneurs is at the heart of Launch NY’s mission. In 2024, we provided pro bono mentorship to over 400 companies, bringing the total number of startups served since our founding in 2012 to 1,740. Additionally, we expanded our Entrepreneurs-in-Residence (EIR) program with 24 new mentors, offering expertise across various industries to help our portfolio companies grow and scale.

Major Grants to Drive Economic Development

Launch NY celebrated receiving $3 million from the Ralph C. Wilson Jr. Foundation to support equitable economic development, along with a $250,000 grant from National Grid to further our efforts in clean tech innovation and startup mentorship. For more details on our latest initiatives, visit our news section.

Join Launch NY’s Investor Network

Are you looking to invest in high-growth startups and help drive innovation in your community? Launch NY’s Investor Network offers accredited investors exclusive opportunities to fund Upstate NY startups with investments as low as $10,000—without any membership fees or obligations. Gain access to exclusive deal flow and due diligence files on some of the most promising startups in the region, and connect with entrepreneurs who are transforming industries and communities.

Ready to get started? Contact Jeanne Ernst at jernst@launchny.org to learn more about joining our Investor Network and fueling the future of innovation in New York!

Stay Connected

Launch NY is growing fast, and we want you to be a part of our journey. Don’t miss any updates—sign up for our newsletter and stay informed about our upcoming events. We also invite our supporters to join us in driving sustainable economic transformation across Upstate New York.