Small Business Technology Investment Fund (SBTIF)
The Small Business Technology Investment Fund (SBTIF) provides early stage high-tech companies throughout New York State with a potential source of venture capital to promote new job creation and economic growth. The Fund makes venture capital investments, taking an equity position in NYS based companies that have developed innovative technology products (and related services), generally have well-protected intellectual property, display significant competitive advantage(s) and have market acceptance. The Fund may also offer professional, technical and managerial services and referrals to help grow technology-based business ventures.
SBTIF is interested in all technology areas. The Fund has invested in medical devices, Information Technology (IT), software, electronics, biotechnology, optics, nanotechnology, telecommunications, and materials science, concentrating its efforts in geography of the state typically underserved by venture capitalists.
Companies must be headquartered, or have their intent to be headquartered, in New York State to be considered by SBTIF.
A first step to introduce a company to SBTIF is to complete the Company Executive Summary Form:
Once the company summary is reviewed, a well-constructed business plan and/or other company information may be requested as a next step. Company proposals selected for review undergo extensive due diligence, under confidentiality.
The following items are a part of, but are not limited to, SBTIF's due diligence process:
- Evaluation of company history, investors, and board of directors;
- Assessment of the management team;
- Analysis of market potential for the product or service and size of market;
- Relevance of technology presented and level of protection (patents, trade secrets, etc.);
- Evaluation of actual and potential competition;
- Financial analysis of proposed plan in terms of the company's valuation;
- Potential for creating jobs in New York State.
For more information contact SBTIF@esd.ny.gov or 518-292-5700 and request to speak with SBTIF staff.
Small Business Technology Investment Fund (SBTIF): PORTFOLIO
Company list by name. For more detail on a particular investment, click on link.
Small Business Technology Investment Fund (SBIF): SEED FUNDS INVESTMENTS
New York City Seed
NYC Seed is a partnership between ITAC, New York City Investment Fund, Empire State Development’s Division of Science, Technology and Innovation (NYSTAR), New York City Economic Development Corporation and Polytechnic Institute of NYU.
Western New York Business Development Fund (WNYBDF)
The Western New York Business Development Fund (WNYBDF) is a partnership of the Empire State Development's Division of Science, Technology and Innovation (NYSTAR), the Erie County Industrial Development Agency, the University at Buffalo Foundation and the TDC Foundation. The fund is managed by Insyte Consulting.
For more detail on a particular investment, click on a link below: