New funding builds on the success of Founders Go Big, launches Fast Forward leadership program, and strengthens connections across New York’s innovation ecosystem
Launch NY is announcing a $250,000, two-year grant from JPMorganChase to support high-growth founders across Upstate New York.
The funding will expand the Founders Go Big program to reach more startup companies with mentorship and capital support. It will also support growth-stage businesses through its new Fast Forward Leadership Program and strengthen connections to New York’s innovation ecosystem resources, including partner programs via the NY SMART I-Corridor Tech Hub.
This announcement builds on Launch NY’s long-standing work providing tailored coaching and seed funding to under-resourced startups receiving their first institutional capital by helping them navigate the challenges of scaling their new ventures. Launch NY will also serve a critical role in connecting companies to funding and supporting programs within and beyond the Upstate New York region that help grow innovative businesses.
“Small businesses are essential to building resilient local economies, and when founders succeed, entire communities benefit,” said Matt Tipple, Managing Director, Private Bank, and Chair of the Upstate New York Market Leadership Team at JPMorganChase. “JPMorganChase is proud to support Launch NY’s efforts to equip entrepreneurs with the capital, mentorship, and leadership skills they need to scale their businesses, create jobs, and drive meaningful economic opportunity throughout Upstate New York.”
Since 2020, Founders Go Big has helped founders who typically lack access to entrepreneurial resources prepare for growth by strengthening their ability to launch high-growth potential startups and attract investment capital from Launch NY and other funders. The program’s expansion will increase the number of companies served while introducing new support for growthstage businesses facing challenging leadership and fundraising demands.
“We’re thrilled that so many founders have been able to pursue their dream and join the growing legion of startups in our region through our Founders Go Big program,” said Marnie LaVigne, Ph.D., President & CEO of Launch NY. “Now we’ll be able to ensure they’re prepared to take on the challenges of scaling their businesses, so they can truly make their mark in driving
economic prosperity and innovative industry solutions.”
Earlier this year, Exostellar—a Launch NY portfolio cloud computing company built in Buffalo and Ithaca—was acquired by Qualcomm, underscoring Upstate New York’s growing startup momentum. As Exostellar’s first institutional investor that led its seed funding round, Launch NY provided early capital, hands-on mentorship, and strategic guidance that helped the team scale
into a global, acquisition-ready company.
Launch NY provides pro bono mentorship to nearly 350 startup companies annually combined with access to the most active seed fund in New York State. To learn more about Launch NY’s programs and how they support high-growth founders, visit launchny.org
##
About Launch NY:
Launch NY is the only nonprofit venture development organization and U.S. Treasury-designated Community Development Financial Institution (CDFI) that serves and directly funds startups exclusively in Upstate NY. The core mission of Launch NY is to identify, support, and invest in high growth, high impact companies and to catalyze the entrepreneurial culture of Upstate NY on
behalf of job and wealth creation.
Since 2012, Launch NY has mentored over 1,930 companies which have gone on to raise more than $1.5B, generate more than $323MM in annual revenue and support more than 9,900 jobs. Aligned with Launch NY’s CDFI designation, more than 70% of its portfolio companies are in low- income neighborhoods. Launch NY delivers its mission via mentorship and equity capital access programs, starting with pro bono mentoring through its Entrepreneur-in-Residence program, Founders Go Big program for traditionally underrepresented founders, and Emerging Cleantech Opportunity (ECO) Incubator, as well as its new Technical Assistance program. These programs prepare entrepreneurs for investment capital from multiple sources, including Launch NY’s InvestLocal Financing Programs comprised of nonprofit and for profit investment funds, and the Investor Network online marketplace that fields investment opportunities to hundreds of
accredited investors. Through these vehicles, Launch NY is the most active seed investor funding New York State companies, and it has been ranked among the top 5 nonprofit seed funds in the country.
