Launch NY Newsletter – October 2018


Launch NY

Launch NY News & Updates Upcoming Events
Launch NY & ECO Incubator News & Updates

Launch NY Awarded U.S. Treasury Funds to Support Investments for Second Year in a Row

For the second year in a row, Launch NY will receive $168,000 from the U.S. Department of Treasury’s Community Development Financial Institution (CDFI) Fund to support Launch NY’s seed fund investments in businesses in low-to-moderate income neighborhoods. The CDFI Fund award fuels capital for companies, like the latest Launch NY investment in Ru’s Pierogi, located on Buffalo’s lower west side. Over 75 percent of Launch NY’s investment portfolio are in businesses located in low-to-moderate income neighborhoods that are helping to transform our community through entrepreneurship. Read more about the award and latest investment in our press release.

Join us Wednesday, October 17th at Noon for #LaunchHour TwitterChat to Learn How Entrepreneurs are Paying it Forward

Did you know many entrepreneurs incorporate paying it forward into their business, whether it’s through mentoring or donations? Join us with on Wednesday, October 17, 2018 at noon with our panel of inspiring entrepreneurs, including Michele Liddle (The Perfect Granola), Aitina Fareed Cook (Get Fokus’d Productions), Del Reid (26 Shirts) and others to hear what inspired them to pay it forward while building a for profit business. Never joined a TwitterChat before? It’s easy, just follow @Launch_NY on Twitter and use the hashtag #LaunchHour to see the discussion. Enjoy the conversation and jump in with tweets anytime.

October 17, 2018

#LaunchHour TwitterChat: Entrepreneurs Paying it Forward
12:00 – 1:00 PM

October 18, 2018
CNY Biotech Accelerator Concept to Commercialization Bootcamp
8:00 AM – 4:00 PM
Syracuse, NY

October 23, 2018
MWBE Pitch & Roundtable
12:30 – 4:00 PM
Buffalo, NY

October 24, 2018
Networking@Rev: Growing Past 25 Employees
6:00 – 8:30 PM
Ithaca, NY

Startup Spotlight

Confession from a Former Launch NY Client

James Shomar, Program Director of StartFast, and previous CEO of Solstice Power, shared his experience as a solopreneur, and when he realized that his solo status was his major obstacle to company growth. Read more about his journey into learning the power of a team and advice for current and future entrepreneurs in his latest StartFast blog, You Need to Build an Empire.

GRASPIE Founder Named to Google for Entrepreneurs Exchange 

Congratulations to Derrick Parson, founder of GRASPIE, a Buffalo based mobile engagement and learning platform, who was named to the Google for Entrepreneurs Exchange | Black Founders 2018 Cohort. “Being selected was an amazing experience. Not only did it validate GRASPIE™ as having extreme potential for success nationally, but it also showed that Google for Entrepreneurs™ believes in me as a founder of color. This validation is priceless! During the week long intensive and immersive program, we dug deep into topics such as vulnerability as a founder, creating a moat around your value proposition, advanced technologies for extreme growth, strategic development and marketing, as well “winning the fundraising game”. Google for Entrepreneurs™ also offered GRASPIE™ six months of dedicated support and resources from experts as well as other invaluable items to stimulate growth. This truly will take GRASPIE™ to another level!” – Derrick Parson, CEO, GRASPIE

#LaunchHour TwitterChat Tips Launch NY Resources
LaunchHour TwitterChats are monthly virtual chats featuring important topics for startups and entrepreneurs. Join us over your lunch to hear from expert panelists. Check out our archive for past TwitterChats filled with tips like those below. See you at the next #LaunchHour TwitterChat Wednesday, September 19th at noon.

LaunchHour TwitterChats are monthly virtual chats featuring important topics for startups and entrepreneurs. Join us over your lunch to hear from expert panelists. Check out our archive for past TwitterChats filled with tips like those below. See you at the next #LaunchHour TwitterChat Wednesday, October 17th at noon.

September 19, 2018

Crafting the Right Pitch: Investor vs Sales Pitch Decks

View the whole chat on Wakelet.

Should startups have several different types of pitch decks?

  • Brad Treat (@bradtreat) – Yes, your company should have multiple decks. I would suggest you customize your decks for every single interaction, where venture capital or customers
  • Lindsay Stencel (@LKS_Law) – Yes! There is a difference between a general marketing deck, a sales pitch deck, and an investor deck. A company raising should have all three
  • Patrick Walsh (@eaglehawkllc) – Yes. You have an elevator pitch, a 5 minute demo day deck, a deck for a 10 minute pitch, and a deck for a 15 minute pitch. Decks should be tailored to the audience. You should also have a separate deck for customers

What are the essentials for an investor pitch deck?

  • Lindsay Stencel (@LKS_Law) – Problem, why your company has the right solution, business model, financial model, team overview, competition, financial ask of the group you are pitching to
  • Nicholas Coriano (@nicholascoriano) – The purpose of your investor deck is not to answer all possible questions, nor close immediate investment. It is to open investors’ minds to your vision and get them excited to know more

Which members of a team should join for an investor pitch?

  • Brad Treat (@bradtreat) – For an investor presentation, the CEO should always be there. Fund raising is a CEO’s #1 priority. Depending on who is in the room, you’ll likely want to bring the technologist/subject matter expert
  • Lindsay Stencel (@LKS_Law) – CEO, CTO if the company is highly technically driven, and internal CFO if have one
  • Patrick Walsh (@eaglehawkllc) – Key founding members and CTO or CFO (if necessary). In some cases it helps to have an advisor or current investor with you depending on the situation

View the whole chat on Wakelet.

Join us for our next #LaunchHour TwitterChat, October 17th, Entrepreneurs Paying it Forward!

Upstate NY Resource Network
 Check it out here >

Upstate NY Rainforest Canvas Study
 Check it out here >

5 Business Stages – Where are you?

Each stage contains critical deliverables for moving forward. Starting with the Explore stage, see where you are on the path to success.
 Find out here >

Entrepreneur Toolkit 
The toolkit is a set of templates and links designed to help start, launch and grow your business in upstate New York.
 Check it out here >

Is Launch NY a fit for you?
Launch NY provides entrepreneurs experienced mentoring using best practice processes and connections to specialized resources both in and beyond the Upstate NY ecosystem.Thus preparing you to compete for and win the funding and additional resources needed to move forward.  Apply Now! >

Meet the Launch NY Team
Frank Codella

Frank Codella, is a founding member of Medical Acoustics. He serves as Chief Executive Officer, in addition to his duties as a Director of the Company. Previously, Mr. Codella served as Senior Vice President of Global Sales at Synacor, Inc. (“Synacor”) from November 2001 to April 2010. As a member of Synacor’s founding executive team, Mr. Codella played a key role growing the business from startup phase to a mature enterprise with annual sales exceeding $100MM (IPO, SYNC). Mr. Codella is also a Co-Founder of MedRecovery Management LLC (“MRM”), where he developed the company from a concept to a thriving enterprise. MRM was acquired by HMS, a public company (HMSY). He has over 20 years of experience in the information technology and telecommunications industries having held numerous sales, marketing, and senior management positions.

Read more about Brad and our other EIRs on our website.

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