April 28, 2017
Launch NY Has Committed a Total of $447,500 in Upstate Companies in First Year of Fund
Upstate New York, April 27, 2017 – Launch NY, the first and only venture development organization (VDO) focused on making the 27 counties of Upstate New York a thriving hub of innovative start-up business activity, today announced that in its first year, the organization has committed a total of $447,500 in Upstate New York’s most promising companies. With over 40 applications to date, Launch NY is continuing its raise to fully capitalize the fund at $5MM to meet significant demand of early seed stage capital needed in the region.
“As one of the most active seed funds in the region, we are seeing increased demand for this vital proof-of-concept capital,” said Marnie LaVigne, president and CEO of Launch NY. “Each round we are seeing stronger applications showing that mentoring, through our Entrepreneur-in-Residence program, in tandem with early seed capital, can set the stage for our most promising entrepreneurs to be successful within Upstate NY.”