Launch New York appointed Jennifer A. Beckage, Partner with Phillips Lytle LLP, to its Board of Directors.
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.
Buffalo Business First
Gone are the days when a fragile startup ecosystem relied on one or two funding sources to support most of its deals. Part of that has to do with a much more robust system of private angels looking to support local startups – for example, the number of accredited investors who belong to the Buffalo Angels investment network has grown from 28 to 69 since 2014 – and part of it has to do with more formalized efforts. Launch NY’s seed fund – raised from philanthropic donors – is having a major impact helping seed stage companies get their first funding, which is designed to prepare them for larger rounds going forward.
University at Buffalo
“It’s challenging to start a new life sciences company. But with the support of local startup programs like Panasci, UB Incubators and Launch NY, companies like POP BIO are finding success in Buffalo,” Smyth says.