NY launches $2M MWBE investment fund for tech startups

Gov. Andrew M. Cuomo announced this month that his administration is launching a $2 million investment fund for certified minority- and women-owned business enterprises in the state.

Empire State Development”™s MWBE Investment Fund will provide seed or pre-seed money for startup companies, with a focus on advanced materials, clean technology, life sciences and medical devices.

Excell Partners, a venture capital firm based in Rochester, will oversee and manage the fund’s disbursement to technology-centered startups.