Empire State Development (ESD) has announced a $1 million grant to Launch NY through its NY Ventures division. The funding, provided under the State Small Business Credit Initiative (SSBCI), aims to support early-stage startups across New York by helping them access legal, accounting, and financial services.
The new Technical Assistance Program will be available to entrepreneurs statewide and is intended to help founders improve business operations, strengthen financial readiness, and better position their companies for investment. Interested applicants can find more information at launchny.org/ssbci-ta.
Hope Knight, President, CEO and Commissioner of Empire State Development, stated: “Empire State Development is proud to support Launch NY with this $1 million investment in expanding access to critical technical assistance that helps entrepreneurs across our state turn bold ideas into high-growth businesses. By providing startups with professional legal, accounting, and financial advisory services, we’re removing the barriers that too often prevent innovative companies from securing the capital they need to grow. This initiative ensures more New York founders can successfully navigate the path from idea to investment, creating jobs and driving economic growth statewide.”
Marnie LaVigne, Ph.D., President and CEO of Launch NY, said: “Based on our experience delivering pro bono mentorship to more than 350 startups annually—and over 1,850 since 2012—we know that preparing these businesses to raise equity capital is one of their biggest challenges. This program offers the first widely available, hands-on resource for founders to receive the legal, accounting, and financial guidance necessary to become investment-ready.”
Launch NY was selected for its longstanding role as an investor in Upstate New York’s startup ecosystem and its extensive network supporting new businesses. The organization will coordinate services such as developing investment term sheets, evaluating purchase agreements, establishing banking relationships, and building financial models—support considered essential for early-stage growth.
The Technical Assistance Program will offer expertise in three main areas: legal services including business formation filings and contract development; accounting support such as bookkeeping practices and investor presentations; and financial advisory covering fundraising strategy and small business program applications.
Empire State Development serves as New York’s chief economic development agency with a mission of promoting business growth and job creation throughout the state. ESD oversees regional councils focused on economic development initiatives in each of New York’s ten regions.
Launch NY operates as a nonprofit venture development organization and Community Development Financial Institution (CDFI) serving startups in 36 Upstate counties. Since 2012 it has supported nearly 1,860 companies that have collectively raised over $1.5 billion in capital.
