Launch NY, a nonprofit venture development organization and Community Development Financial Institution (CDFI), has been awarded a $200,000 grant from the KeyBank Foundation as part of its $5.4 million bicentennial initiative to strengthen CDFIs across the country. This national grant program, launched in celebration of KeyBank’s 200th anniversary, recognizes and invests in organizations driving innovative, community-based solutions to expand small business growth, affordable housing, and economic inclusion.
Launch NY was selected for its track record of providing capital and hands-on business support to early-stage entrepreneurs across Upstate New York. The grant will enable Launch NY to expand outreach and services in Cattaraugus, Chautauqua, Erie, and Niagara counties – particularly in low-income and underserved areas – while continuing its work across Central New York, the Finger Lakes, the Southern Tier, as well as its 2024 expansion into the Capital Region.
“At Key, we believe that being in community is more than just geography—it’s about deep relationships and shared progress,” said Eric Fiala, Chief Corporate Responsibility Officer at KeyBank and CEO of the KeyBank Foundation. “CDFIs like Launch NY are on the ground every day, expanding opportunity and access for all. It’s a privilege to work alongside them, especially as we mark this milestone in our company’s legacy.”
The funding will support Launch NY’s hybrid model of in-person and virtual programming, increasing access to technical assistance, financing readiness education, and post-investment support. Additionally, it will facilitate Launch NY’s progress towards self-sustainability by resourcing the operations for its NonProfit Seed Fund, which is designed to become an evergreen fund, in which returns are reinvested into new Launch NY companies.
“This investment from KeyBank is a critical step in helping us scale our services where they’re needed most,” said Marnie LaVigne, PhD, President and CEO of Launch NY. “We’re proud to partner with institutions that understand the importance of building economic prosperity that benefits the entire community. This funding directly strengthens our ability to deliver essential resources that help entrepreneurs not only launch new ventures, but scale and thrive.”
As one of the nation’s only nonprofit venture development organizations with an active seed fund, Launch NY continues to strengthen the infrastructure and access needed to revitalize communities through entrepreneurship.