August 6, 2020
Launch NY ECO Incubator Partners with HubSpot for Startups
Buffalo, NY, August 6, 2020 – Launch NY, Upstate New York’s first and only venture development organization to provide pro bono mentoring and the most active seed fund in New York State to high-growth startups across the 27 westernmost counties of the state, and HubSpot, a leading growth platform specializing in marketing, sales, customer service and CRM software, have partnered to offer Launch NY’s ECO Incubator and portfolio companies the opportunity to retain HubSpot’s services through the HubSpot for Startups Program. Launch NY’s ECO Incubator is a part of the six incubators administered by the New York State Energy Research and Development Authority (NYSERDA) with 26 companies in their portfolio. With the new partnership between HubSpot for Startups and Launch NY, the ECO Incubator will be able to help cleantech startups grow and scale faster than ever before.
HubSpot for Startups entitles qualifying companies to discounted rates, both short and long-term, and provides training for its integrated platform of services.
“One of the things we hear repeatedly from our ECO companies and the growing startups we serve is a lack of affordable software solutions, such as Customer Relationship Management (CRM), which can make or break a startup right at the time they need tools to scale-up,” said Dr. Marnie LaVigne, President and CEO of Launch NY. “HubSpot has long been renowned for its world-class support and startup-friendly onboarding experience, and we’re excited our companies will now have significantly discounted access to over 500 software integrations, as well as the opportunity to build an integration on the HubSpot platform.”
To qualify for HubSpot for Startups, a company must be affiliated with Launch NY and report less than $2 million in funding. If they meet the requirements, they may receive up to 90 percent off HubSpot software in the first year, 50 percent off in the second, and 25 percent off ongoing. A startup that has raised over $2 million in named funding, up to and including Series A, is eligible for up to 50 percent off in the first year, and 25 percent off ongoing.
HubSpot for Startups includes access to the HubSpot Growth Platform, a full suite of software for marketing, sales and customer service, education resources and tailored training, such as content, master classes, and 24/7 support. There’s also board deck templates and quick tips on customer acquisition, made especially with startups in mind.
“HubSpot grows as the company does, allowing a startup to scale as it evolves. We’re thrilled to be able to offer yet another tool for our ECO Incubator and select companies among our 200 plus startups we serve at any given time,” said LaVigne. Launch NY has created a comprehensive network of resources through NYSERDA and others working in tandem with Launch NY’s world class Entrepreneur-in-Residence program and unique #investlocal financing programs.
Launch NY is the only NYSERDA cleantech incubator with in-house seed funding programs including its nonprofit Launch NY Seed Fund, for-profit Limited Partner Fund, and Investor Network for online access to deal-by-deal funding opportunities for accredited investors. Founded in 2016, Launch NY’s Seed Fund has become the most active in New York State and one of the most active in the country. Fueled by grants and donations, most notably from the Ralph C. Wilson, Jr. Foundation and U.S. Department of Treasury CDFI Fund, the Fund provides $25,000 to $100,000 in investment capital to companies that meet its investment criteria. Launch NY has invested over $3 million in 60 Upstate New York startups, with returns feeding back to the fund to support investments in future startups in what is known as an “evergreen cycle.”
Launch NY’s for-profit Limited Partner (LP) Fund debuted in 2019 and is designed to co-invest alongside Launch NY’s nonprofit Seed Fund, ultimately doubling the capital available for Launch NY client companies. The LP Fund has already invested in 34 companies since its first close 18 months ago and provided its first return of capital to investors.
Launch NY also offers accredited investors free online access to its portfolio companies seeking funding through its Investor Network, which is now accepting new sign-ups. Accredited investor can see the latest round of investment opportunities that closed recently, including 3AM Innovations, the first widely available Qualified Opportunity Fund in the region. For as little as $10,000 accredited investors can support some of the region’s most promising startups, all organized and vetted by Launch NY, from the convenience of a mobile device anywhere in the world.
For more information about Launch NY, its programs, and other entrepreneurial opportunities, visit www.launchny.org and follow Launch NY on Facebook, Twitter, and LinkedIn.