teal background with semi opaque gold design. "New York Ventures" in white with the ESD logo in white

Small Business Week Spotlight: New York Ventures

NY Ventures is New York State’s venture fund, and is investing in entrepreneurs, fund managers, and accelerators to fuel New York’s innovation ecosystem.  

ESD's NY Ventures team supports high-growth companies and their partners to use technology to solve important challenges in areas of strategic interest and importance to NYS. We actively look to provide greater access to venture capital for regions, industries and individuals, including women and minority entrepreneurs and fund managers. Our goal is to build a robust startup ecosystem across New York State, leveraging public and private sector assets.    

NY Ventures is actively deploying over $300 million of capital through equity programs for both direct and indirect investment.   

Some key programs supporting startup small businesses include:  

You can learn more about all of ESD’s NY Ventures programs on the NY Ventures website. For information on all of ESD’s small business programs, please visit our website

Success Stories: 

Company: Envisagenics
CEO and Founder: Maria Luisa Pineda 

Envisagenics, a Queens-based biotech company, leverages AI to improve RNA therapeutics. Maria Luisa Pineda, the company’s CEO and founder, says NY Ventures’ investment, through the New York Innovation Venture Capital Fund, provided pivotal support. “NY Ventures’ investment was a game-changer for Envisagenics,” Pineda says. “Since we spun out of Cold Spring Harbor Laboratory, they have not only provided the financial backing we needed to scale but also brought a robust network that has been instrumental in our success. NY Ventures’ belief in Envisagenics mission, to revolutionize drug discovery by leveraging our deep expertise in RNA splicing and artificial intelligence, has empowered us to push the boundaries of innovation and make significant strides for patients." 

Company: SimpliFed
CEO and Founder: Andrea Ippolito 

SimpliFed, an Ithaca-based maternal health platform founded by Andrea Ippolito, specializes in providing accessible lactation support services to new mothers throughout the United States. Founded with the goal of improving postpartum care, SimpliFed offers a range of services from virtual consultations to in-person support, addressing common breastfeeding challenges and promoting a supportive community environment for mothers. This initiative ensures vital health resources are readily available to mothers, regardless of their location, enhancing both the well-being and the breastfeeding success of families nationwide. With the support of NY Ventures’ NY State Innovation Venture Capital Fund, SimpliFed was able to develop their platform, hire key personnel, and establish partnerships with healthcare providers, ultimately paving the way for improved access to lactation support services for patients nationwide. 

Company: Arbol 
Founders: David Gonzalez and Favio Osorio 

Arbol, a Buffalo-based startup founded by David Gonzalez and Favio Osorio, addresses the issue of affordability in higher education by providing tools that empower students to make better financial decisions. The company's mobile app and platform track students' financial accounts, help them budget, and provide alerts to flag potential issues. The startup completed the University at Buffalo's yearlong Cultivator program for early startups and this year raised over $850,000 in its pre-seed financing round from investors including from NY Ventures' Pre-Seed and Seed Fund. This investment has been crucial for Arbol’s growth, allowing the expansion of their financial literacy programs and the development of their app, which unlocks insights for administrators to remove financial barriers for students in need.  

The Arbol founders describe the NY Ventures investment as "instrumental in propelling our company forward. With their support, we've achieved critical milestones ... Beyond financial support, NY Ventures has significantly expanded our network, connecting us with other investors who are likely to participate in our next financing round and introducing us to fellow founders in their portfolio for valuable knowledge exchange.”