Launch NY today announced that they have invested in seven additional promising startups bringing its portfolio to 17 companies and $667,500 in funding since March 2016. The Launch NY Seed Fund, a nonprofit fund fueled by grants and donations, has continued to grow since its inception and most recently increased its funding capacity through over $300,000 in awards from the US Treasury Department and Viaduct.
Schumer, Gillibrand: Federal Investment Will Support Innovation For Area Entrepreneurs in Upstate New York September 22, 2017Buffalo, NY – U.S. Senate Minority Leader Charles E. Schumer and U.S Senator Kirsten Gillibrand today announced $168,000 in federal funding for Launch NY. The funding was allocated through the U.S. Department of the Treasury’s Community Development Financial Institutions […]
U.S. Department of the Treasury
Launch NY was awarded for the FY 2017 CDFI Program round. The CDFI Fund awarded $171.1 million in Financial Assistance and Technical Assistance to 265 organizations in 46 states and the District of Columbia. The CDFI Program invests in and builds the capacity of CDFIs to serve low-income people and communities lacking adequate access to affordable financial products and services
Buffalo Business First
Since that time, it has become an extremely active funding source in a region that has always lacked early-stage money, investing about $625,000 in 14 companies. In Buffalo, those include Abcombi Biosciences, Accutheranostics, Buffalo Automation, Rachel's Remedy and Patient Pattern.