“We’ve historically served about 40% minority- and/or women-led companies, so we are incredibly grateful that JPMorgan Chase recognizes the importance of doing even more to support underrepresented founders,” Marnie LaVigne, president and CEO of Launch NY, said. “We welcome others to join their lead as well, because we know we have only scratched the surface […]
“We’ve historically served about 40% minority- and/or women-led companies, so we are incredibly grateful that JPMorgan Chase recognizes the importance of doing even more to support underrepresented founders,” Marnie LaVigne, president and CEO of Launch NY, said. “We welcome others to join their lead as well, because we know we have only scratched the surface on what will require long terms support and culture change to be sure our entire community is participating in the economic renaissance happening through entrepreneurship.”
“At JPMorgan Chase we are focused on inclusive economic growth,” Jeanique Riche-Druses, VP in global philanthropy at JPMorgan Chase, said. “We recognize that there are entrepreneurs out there with much promise but with limited access to the resources they need to grow their businesses. That is why we are glad to support Launch NY as they develop methods to connect low-wealth entrepreneurs to equity investments that position them to successfully compete for the follow-on investments needed to take their businesses to scale.”
Launch NY activity
Besides its Buffalo headquarters, Launch NY has co-locations with partner organizations in Syracuse, Binghamton, Ithaca, and Rochester.
Since 2012, it has served 1,420 companies, has more than 30 experienced local entrepreneurs-in-residence and its National Mentor Network of 2,000 industry, business, and investment experts.
Launch NY says it has mentored companies — including 28 percent women-led and 28 percent minority-led startups — which have created 4,916 jobs; attracted nearly $1.25 billion in co-investment and follow-on capital after joining Launch NY; and generated $228 million in annual revenues.
Launch NY’s #InvestLocal Financing Programs include a nonprofit fund, for-profit limited partner fund and Investor Network, the organization said.
