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Launch NY awarded federal money for its Seed Fund

Marnie LaVigne

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“Since 2016, Launch NY has invested over $4.1 million in 76 of Upstate New York’s most promising startups from its nonprofit Seed Fund, augmented by Launch NY’s for profit #InvestLocal programs yielding a total of nearly $7.8 million,” Marnie LaVigne, president and CEO of Launch NY, said. “This injection of funds attracts capital from outside Launch NY too, with our portfolio companies raising a total of $85 million. This fifth CDFI Fund award helps ensure we can continue our commitment to inclusive economic prosperity through high-growth entrepreneurship where it is needed most.”

Launch NY activity

Besides its headquarters in Buffalo, Launch NY co-locations with partner organizations in Syracuse, Binghamton, Ithaca, and Rochester.

Since 2012, the organization has served more than 1,319 companies and has more than two dozen experienced local entrepreneurs-in-residence.

Launch NY has also mentored companies — including 27 percent women-led and 27 percent minority-led startups — that have created 4,542 jobs, attracted more than $1 billion in co-investment and follow-on capital after joining Launch NY, and generated over $155 million in annual revenues.

Eric Reinhardt