Program Purpose
The Innovate NY Fund is a new $26 million seed stage equity fund to support innovation, job creation, and high growth entrepreneurship throughout the state.  

Four to six competitively selected investment funds will receive approximately $4 to $5 million to invest in technology companies and other high growth firms.

All contracted investment funds must secure at least a 2:1 match from private sources on its aggregate portfolio at the time of investment.  SSBCI funding may not exceed $500,000 per investment or $750,000 in the case of any individual biotechnology related company. 

The investment entities awarded the $25 million in Innovate NY funds include:

• Canrock Ventures

• Cayuga Venture

• Excell Partners

• Golden Seeds

• SCP Buffalo Incubator  

• Stonehenge Capital Company

Contact Information
For Innovate NY RFP questions, please email InnovateRFP@esd.ny.gov