Demonstrate, Grow, Launch
The Innovate NY Fund is a seed stage business equity fund with up to $45 million to support innovation, job creation, and high growth entrepreneurship throughout the state. The Innovate NY Fund is supported with $35 million in State SSBCI funds and $10 million from Goldman Sachs, and is expected to leverage over $90 million in additional private investment in small businesses.
Six competitively selected investments were selected to invest in technology companies and other high growth firms throughout New York State. All contracted investment funds must secure at least a 2:1 match from private sources on its aggregate portfolio at the time of investment. Innovate NY funding may not exceed $500,000 per investment or $750,000 in the case of any individual biotechnology related company.
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