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How do we help startups?

 

Mentoring and Funding for Upstate New York Startups

We provide startups vital guidance, connections to expert resources and the funding needed to demonstrate Proof of Concept of the products and processes that will be needed to go to market.

 

Many startups never pass this “Valley of Death”.  Improving the odds is what Launch NY is all about.

Is Launch NY a fit for you?

 

 

 

  • Are you Headquartered in the 27 County Launch NY footprint?
  • Does your business have High Growth Potential, defined as $10 + million top line revenue potential within 5-7 years?
  • Do you have a business lead, who is coachable and will engage with Launch NY mentors for direction guided by the Business Model Canvas?
  • Are you investable with an opportunity to exit (based on market and business lead willingness)?

 

CLIENT SELECTION CRITERIA

MENTORING

 

Starting up a high growth business requires specialized business, industry, and technical expertise to to support the process from Explore to Grow.

 

Our Entrepreneurs-in-Residence provide deep background combined with use of the proven Business Model Canvas method to guide each step at no cost to you.

 

Our National Mentor Network provides even more specific expertise when you need it. Our goal is to prepare you for "what's next."

 

FUNDING

 

High growth potential businesses typically require access to investment capital.

 

Launch NY Entrepreneurs-in-Residence not only help startups understand the funding options but also prepare and connect you to access funding sources, including the Launch NY Seed Fund designed to support vital proof-of-concept activities.

 

Where are you on the path to success?

How Launch NY assists entrepreneurs in Upstate NY to navigate the "Valley of Death”:

 

 

"I highly recommend Launch NY as they are difference makers."

 

Josh Yank,

Founder and CEO,

Yank Technologies,

Hear what our

clients are saying...

and what our startups are doing

Where are you?

Click on the stages below to map your way forward

EXPLORE

START

DEMONSTRATE

LIFT-OFF

GROW

 

General Company Characteristics

at the EXPLORE stage are:

 

Potential Stage Costs: 1-2%*

Typical Funding Needs: From Friends & Family

 

Team: 1-2 people

Revenue: $0

Expenses: $10,000

 

*A high-growth potential start-up may require $1M in funding through this succession of stages.

The amount required at each stage is expressed as a percentage of the total dollars required to be raised.

 

 

How Launch NY will be

helping you in this stage:

 

MENTORING:

  • Market Diligence
  • Team Structure

 

You have an idea – perhaps a way to do something or a new product or service that you think is needed.

 

Now what?  It is time to get serious and more fully investigate your idea.

 

 

START OF STAGE:

• Napkin-stage Concept

• One Off Solution

• Non-Repeatable Process

• Research Based Intellectual Property

 

ESSENTIAL FOCUS:

• Problem Statement Validation

• Customer Discovery

• Market Size Evaluation

 

DELIVERABLES:

• Validated Problem Statement

• Validated Customer Segments

• Validated Value Proposition

• Understanding of "Who Will Pay"

 

BUSINESS PLANNING TOOLS:

Business Model Canvas

 

FINANCIAL TOOLS:

• N/A

 

DEAL MAKING TOOLS:

• Elements of a Pitch Deck

 

General Company Characteristics

at the START stage are:

 

Potential Stage Costs: 2-5%*

Typical Funding Needs: Family and Friends, and Early Seed (e.g. Launch NY Seed Fund)

 

Team: 2-3 people

Revenue: $0

Expenses: $10,000 - $100,000

 

 

*A high-growth potential start-up may require $1M in funding through this succession of stages.

The amount required at each stage is expressed as a percentage of the total dollars required to be raised.

 

How Launch NY will be

helping you in this stage:

 

ADVISING:

  • Setting Priorities
  • Business Model

 

 

During the Start stage it's time to more accurately define whether your idea has real potential.

 

Answer key questions, "What problem will it solve?" "How many people have this problem?" "How will I deliver the product?" “Will customers buy it?”

 

Failure of your initial concept is not uncommon, but now is the time to refine and revise your idea and plan.

 

 

START OF STAGE:

• Validated Problem Statement

• Validated Customer Segments

• Validated Value Proposition

• Understanding of "Who Will Pay"

 

ESSENTIAL FOCUS:

• Feasibility Studies (algorithms, process scaling, …)

• Understand Channel, Relationship, Resources and Activities (Business Model Canvas)

 

DELIVERABLES:

• Early Proof-of-Concept

• Business Model Definition

 

 

BUSINESS PLANNING TOOLS:

Business Model Canvas

Basic Financial Plan

 

FINANCIAL TOOLS:

• N/A

 

DEAL MAKING TOOLS:

• Elements of a Pitch Deck

 

General Company Characteristics

at the DEMONSTRATE stage are:

 

Potential Stage Costs: 5-10%*

Typical Funding Needs: Seed (e.g., Launch NY Seed Fund), Angel

 

Team: 4-7 people

Revenue: $1,000 - $99,000

Expenses: $25,000 - $250,000

 

*A high-growth potential start-up may require $1M in funding through this succession of stages.

The amount required at each stage is expressed as a percentage of the total dollars required to be raised.

 

How Launch NY will be

helping you in this stage:

 

ADVISING:

  • Product Market Fit
  •  Financial Model

 

FUNDING:

  • Strategic Investments

 

This is the proof-of-concept phase, before you go to the market in full force.

 

Your goal is to show that you can deliver your product the way you had planned as part of your business model.

 

 

 

START OF STAGE:

• Early Proof-of-Concept

• Business Model Definition

 

ESSENTIAL FOCUS:

• Create Minimum Viable Product (MVP)

• Understand Revenue and Cost BMC elements

• Alpha Customers and Early Adopters

 

DELIVERABLES:

• Minimum Viable Product (MVP)

• Customers

• Early Revenue

 

 

 

General Company Characteristics

at the LIFT-OFF stage are:

 

Potential Stage Costs: 20-30%*

Typical Funding Needs: Seed or Series A

 

Team: 7-10 people

Revenue: $100,000 - $1,000,000

Expenses: $75,000 - $500,000

 

 

*A high-growth potential start-up may require $1M in funding through this succession of stages.

The amount required at each stage is expressed as a percentage of the total dollars required to be raised.

 

How Launch NY will be

helping you in this stage:

 

ADVISING:

  • Specialized Entrepreneurial Know-How
  • Growth Plan

 

FUNDING:

  • Strategic Investments

 

ON-GOING SUPPORT:

  • Technical Support

 

 

Your company is established, the management team and operational plans are in place, and your product or service is ready to fully launch in the market.

 

Scaled selling and operations begin!

 

 

START OF STAGE:

• Minimum Viable Product (MVP)

• Possibly Revenue

• Customers

 

ESSENTIAL FOCUS:

• Scale Processes

• Create Releasable Product

• Project/Resource Plan

 

DELIVERABLES:

• Version 1 of Commercial Product

• Full Team

• Complete Understanding of Costs

 

 

General Company Characteristics

at the GROW stage are:

 

Potential Stage Costs: 15-30%*

Typical Funding Needs: Series A or Series B

 

Team: As Required

Revenue: As Required

Expenses: As Required

(to support operations)

 

*A high-growth potential start-up may require $1M in funding through this succession of stages.

The amount required at each stage is expressed as a percentage of the total dollars required to be raised.

 

How Launch NY will be

helping you in this stage:

 

ON-GOING SUPPORT:

  • Business Strategy
  • Investment

 

You are successfully delivering your product and "making money." You’re now primed for meeting the needs of a larger customer base and generating profits and financial returns.

 

The GROW stage is all about promoting, nurturing and managing your business in preparation for the next level of growth.

 

 

START OF STAGE:

• V1 Product

• Full Team

• Complete Understanding of Costs

 

ESSENTIAL FOCUS:

• Flush Out Team

• Develop Mature Process

 

DELIVERABLES:

• Repeatable Business Processes

 

 

Startup Tools

Entrepreneur Toolkit - The toolkit is a set of templates and links designed to help start, launch and grow your business in upstate New York. If you have an entrepreneurial template or link that you feel would make a good addition to these resources, please email  info@launchny.org.

 

Resource Network

 

Find the help you need by category, region, name, or searching our network of over 200 resource providers ready to help make your venture a success.

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Email address:

Launch NY

77 Goodell Street, Suite 201

Buffalo, New York 14203

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