Innovate NY Fund
The Innovate NY Fund is a seed stage business equity fund with up to $45 million to support innovation, job creation, and high growth entrepreneurship throughout the state. The Innovate NY Fund is supported with $35 million in State SSBCI funds and $10 million from Goldman Sachs, and is expected to leverage over $450 million in additional private investment for small businesses.
Seven investment entities were competitively selected to invest in technology companies and other high growth firms throughout New York State. All contracted investment funds are required to secure at least a 2:1 match from private sources on its aggregate portfolio at the time of investment. Innovate NY funding may not exceed $500,000 per investment or $750,000 in the case of any individual biotechnology related company. For a list of NYS companies receiving Innovate NY investments, click http://www.esd.ny.gov/InnovateNY/InnovateNYfunding12122013.pdf
Participating Investment Entities:
- Canrock Ventures Canrock Ventures is an early stage technology venture capital fund focused on enterprise software and business analytics opportunities on Long Island and New York City.
- Email: firstname.lastname@example.org
- Cayuga Ventures Cayuga Venture Funds have been working to create and establish a thriving community of leading edge, high-tech start-up companies in Ithaca, and the Southern Tier and Western New York regions by providing the necessary capital and other resources needed to grow and prosper.
- Email: email@example.com
- Excell Partners Excell Partners is a University of Rochester and NYS-supported equity fund which provides pre-seed and seed stage financing to high-tech start-up companies located in the Finger Lakes and Western NY regions.
- Email: firstname.lastname@example.org
- Website: http://excellny.com
- ff Venture Capital ff Venture Capital is an institutional venture capital investor in seed-stage companies, investing through ff Rose Innovate NY Fund, LP and other funds. ff VC offers extensive resources dedicated to portfolio acceleration, including a job board, recruiting assistance, strategy consulting, an experienced mentor network, a pool of preferred service providers, a portfolio executive community, and accounting services.
- Contact: http://ffvc.com/contact
- Golden Seeds Golden Seeds, a national investment firm, invests in early stage New York State companies with scalable business models that have diverse management teams with at least one woman in a leadership position.
- Email: email@example.com
- SCP Incubators / Z80 Labs SCP Incubator and Z80 Labs’ primary objective is to serve as a catalyst in the creation of a new technology economy in the Buffalo and Western NY areas. SCP’s focus is on emerging technology fields, namely, IT, digital media, and life sciences located in the Southern Tier, Finger Lakes, Central, and Western NY regions of the State.
- Email: firstname.lastname@example.org
- Stonehenge Growth Capital's Innovate NY fund primarily focuses on seed and early stage software and services New York State companies that are at the intersection of healthcare and IT.
- Email: email@example.com
The general partnership of the Fund is managed by the Community Development Venture Capital Alliance, a national network of community development venture capital funds, focusing on the creation of good jobs, wealth, and entrepreneurial capacity for lower income communities. For more information, please visit http://www.cdvca.org
For Innovate NY Fund program questions, please e-mail InnovateNY@esd.ny.gov