Articles & Alerts
Does Your Technology Company Qualify for New York’s New Funding Program?
Written by: Vera Mittiga, Senior Manager
New York has announced a $30 million dollar funding program that will target high growth start-up technology companies that are headquartered in the state. The Pre-Seed and Seed Matching Fund Program is derived from New York State’s Small Business Credit Initiative, which supports small businesses owned by socially and economically disadvantaged individuals as well as early-stage companies that traditionally do not receive sufficient access to capital.
The new initiative offers early-stage technology businesses financial assistance, from $50,000 to $250,000, to those who secure matching private sector co-investment. The Program’s key focus is technology firms specializing in advanced manufacturing, agricultural tech, climate tech, consumer products, data/SaaS/AI, fintech, healthcare, life sciences and BioTech, and medical devices.
To qualify, a technology company applicant is required to have raised less than two million dollars in dilutive funding, must agree to have its headquarters located in New York, be registered and in good standing with the state, and have at least once C-suite employee living in the state. The company must also raise 1:1 matching equity investments from qualified private sector investors, such as venture capital funds, angel funds and investment partnerships.
Please click here to confirm your eligibility and to apply for the Pre-Seed and Seed Matching Fund Program.