November 10, 2022
Launch NY Introduces New Resource Navigator Providing Up-to-Date Information on Funding and other Opportunities for Local Startup
New resource funded by $150,000 in grants from NYSEG and RG&E
Buffalo, N.Y., [November 10, 2022] – Launch NY, the first and only nonprofit venture development organization to provide pro bono mentoring and seed capital access to early-stage startups in the 27 westernmost counties of New York State, announced a new Resource Navigator to assist startup companies with the identification and pursuit of funding opportunities as well as other sources of support including technical assistance, programs, events, and more. The Resource Navigator can be accessed on Launch NY’s website at https://launchny.org/entrepreneurs/resource-navigator/.
Entrepreneurs can use the Resource Navigator to find new and updated time-sensitive information about funding sources from investors, lending institutions, and others offering direct investments, loans, and grants, along with information about other entrepreneurship education, mentorship, technical assistance, and facilities resources available from economic development organizations, higher education institutions, incubators, accelerators, and others. This all-inclusive directory will be regularly updated with the newest information and is searchable by type of resource with special sections for inclusive and industry-specific programs, as well as by region within Launch NY’s 27-county service area.
“Thanks to the support we received from NYSEG and RG&E, our team has been able to build this new web- based Resource Navigator that provides the most comprehensive directory of resources—most of them available at no- or low-cost—for startup founders and entrepreneurs in our ecosystem,” said Marnie LaVigne, PhD, President and CEO of Launch NY. “Entrepreneurs are incredibly busy trying to juggle multiple priorities in building their business, so now they can come to a single source to find what they need, including those all- important funding opportunities that often can only be accessed in a narrow time window. Our Resource Navigator is truly unique in featuring time-sensitive opportunities on the landing page, so we encourage founders to visit the Resource Navigator regularly.”
Funding for the development of the Resource Navigator was received through grants totaling $150,000 from New York State Electric & Gas (NYSEG) and Rochester Gas and Electric (RG&E).
“Launch NY’s new Resource Navigator will ensure that startup companies have access to vital information and assistance to tap the ever-growing but sometime overwhelming array of resources available to entrepreneurs in our region,” said Joseph M. Rizzo, Manager, Economic Development for NYSEG and RG&E. “The Resource Navigator will help these companies understand and connect with the support programs they need to grow their innovative startup companies in a timely manner.”
“The Resource Navigator vastly expands the opportunities and information available on Launch NY’s website, which already includes a wide array of tools and capabilities for both entrepreneurs and investors, in addition to the numerous person-to-person programs provided by Launch NY,” said LaVigne.
About Launch New York:
The mission of Launch New York, Inc. (Launch NY), the only U.S. Treasury-designated Community Development Financial Institution (CDFI) directly providing venture funding to businesses in New York State, is to identify, support and invest in high-growth, high-impact companies that can transform the local economy and catalyze the entrepreneurial culture in the 27 counties comprising the western half of Upstate New York. Launch NY is a 501(c)(3) nonprofit venture development organization that promotes economic development through best practices, including high-quality pro bono business mentoring, while operating the most active seed fund in New York State that provides access to seed capital as part of an array of #InvestLocal financing programs designed to facilitate funding for investment-ready companies which have the promise to drive significant economic impact and jobs for our region.
Launch NY is headquartered in Buffalo and has co-locations with partner organizations in Binghamton, Ithaca, Rochester, and Syracuse. Since 2012, it has served 1,406 companies, has more than 30 experienced local entrepreneurs-in-residence and its National Mentor Network of 2,000 industry, business, and investment experts. Launch NY has mentored companies, including 28% women-led and 28% minority-led startups, which have created 4,886 jobs, attracted $1.3 billion in co-investment and follow-on capital after joining Launch NY and generated $218 million in annual revenues.
Launch NY’s #InvestLocal Financing Programs include a nonprofit fund, for-profit limited partner fund and Investor Network. The Investor Network includes opportunities for accredited investors to fund Launch NY portfolio companies of their choice starting with a free sign up to join a community of over 211 members. Those funded by Launch NY’s nonprofit fund, started in 2016, include 84 portfolio companies comprising 30% women- led and 31% minority-led, have created 473 jobs, attracted over $157 million after receiving funding from Launch NY and generated over $50 million in annual revenues.
Launch NY also leads the premier Emerging Cleantech Opportunity (ECO) Incubator, one of six designated clean energy incubators sponsored by the New York State Energy Research and Development Authority (NYSERDA), as well as the Founders Go Big program, an innovative diversity and inclusion initiative introduced in 2020.