New Investment Initiative from Launch NY

I am on the board of a non-profit called Launch NY.  It is a venture “launching” organization that couples programmatic intense mentoring with potential seed funding.  I am passing along news of a new initiative that you might find interesting. Here it is:

Launch NY is working to find more ways to engage the local investor community and connect them with our client startup companies. With nearly 130 co-investors to date in Launch NY portfolio companies who have received funding from the Launch NY Seed Fund, the most active seed fund in NYS, our companies have secured 12x the $1.9MM we have invested. Now even more investors can access exciting startup company investment opportunities from the convenience of their laptop or smartphone, as Launch NY has announced that is launching the beta version of the Investor Network.

The first one hundred accredited investors to sign up for the beta test of the Investor Network by July 15th at no cost, will have access to the inaugural slate of startup companies seeking funding this summer.

  • The Investor Network is akin to a digitally administered open angel group, allowing accredited investors to look at deals based on their preferences in sector, stage, and region.
  • Investors can then invest in individual companies on a deal by deal basis, with as little as $10,000.
  • Launch NY will handle vetting the companies, provide access to their due diligence files, assist in negotiations, and structure the special purpose vehicle (SPV) which will aggregate the participating investors. The investment will appear as one line item on the company’s capitalization table.
  • The use of an SPV will allow for accredited investors to benefit from tax incentives for businesses who are located in designated Opportunity Zones.

Launch NY is limiting the beta launch to the first 100 accredited investors, so if you are interested in joining us, please sign up at this link or reach out to Launch NY’s Investment Associate, Alex Killian (akillian@launchny.org) and they will be in touch soon with more information.

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Top Schools for Female Entrepreneurs

Hope you are staying warm!

CollegeMagazine just ranked Cornell #10 in group of “top schools for female entrepreneurs.”  See https://www.collegemagazine.com/top-10-schools-female-entrepreneurs/.

What is most interesting is that Cornell is the only Ivy in the group….and that the group does not include Stanford or Berkeley….and that 3 of the schools in the list are very small colleges (Babson #1, Mt. Holyoke #6 and Smith #2).

I am not sure of the criteria for the ranking, but like the result non-the-less.

Enjoy your weekend.

Startup Resource Book

Happy Thanksgiving!!  Or as I like to say “GobbleGobble!!”.

A friend of mine just sent me this “all in one” resource published by the NYSE called “The Entrepreneur’s Roadmap – From Concept to IPO”.    I first saw that it was 321 pages and thought to myself that it would be indigestible to most entrepreneurs.  But then I saw how it is was organized and who wrote the various sections.  Very digestible!

So here is it.  Great reading and resource for any entrepreneur.

 

VC Backed Alumni Ranking

Each year Pitchbook runs an analysis of which universities/colleges have the most VC backed alumni.  In theory, this should be a measure of the entrepreneurship heft of the given school.  Here is their just published report.  Highlights:

  1. Methodology:  Pitchbook tracked founders of companies that received a first round of venture funding between January 1, 2006 and August 18, 2017.  Large data base.
  2. Page 4:  Cornell ranks 6th for undergraduate programs for the number of VC backed entrepreneurs.
  3. Page 7:  Cornell ranks 6th for dollar volume of VC dollars raised.
  4. Page 9:  Cornell ranks 5th for female founders.
  5. Page 10:  Cornell ranks 14th for MBA programs.
  6. Page 11:  Cornell ranks 3rd for undergraduate founder unicorns (companies with over $1 billion in valuation)

Good reading.  Enjoy!

Upstate NY’s Strongest Economy

A Buffalo-based business publication just published an article called “Which parts of Upstate New York have the strongest economies? (And which are trailing the pack?)”.  Here is a PDF of the article:  Upstate NY Strongest Economies.

I am obviously delighted with Ithaca’s ranking and proud to be part of this great and growing ecosystem.  Things are hustling and bustling here and startups are leading the way!

Woohoo!