ReleaseWire Connect

Just over one month ago Launch NY introduced one of the first crowdfunding campaigns by a nonprofit venture development organization in the country to support its work with local entrepreneurs. These startups are introducing innovative products that improve people's lives and will transform the region's economy. Today the campaign is receiving a huge boost through the national day of giving, known as #GivingTuesday, which has already yielded over $96,000.00 in donations. Launch NY's campaign goal is $100,000 to fuel the vital proof-of-concept work that startups need but can't find. Only 3% of venture capital invested in New York State annually comes to Upstate New York businesses.

When Upstate New York expatriates (expats), who are passionate about their hometown, return for the Holidays, they will marvel over the growth of the local startup community in a region that is ready to reverse the trend in loss of industry and population. This year they will have a chance to get involved through Giving Tuesday donations, to support a new seed fund helping area startup companies at the critical proof-of-concept stage. As the only nonprofit venture development organization serving companies across the 27-counties in the western half of New York State, Launch NY is stimulating this development through their crowdfunding campaign at www.givegab.com/nonprofits/launch-ny/campaigns/launch-ny, where expats can make a charitable contribution to build startups and the innovation economy in a region they love.

Launch NY is stepping out with the latest in fundraising techniques by using crowdfunding to fuel its new nonprofit seed fund. The Launch NY Seed Fund was announced earlier this year along with an initial award of $200,000 from The John R. Oishei Foundation. Now Launch NY is pairing its traditional fundraising methods with increasingly popular online method using a platform created by one of its former clients, GiveGab, an Ithaca-based company serving the nonprofit market, and Good Monster, another former client who offers social media and other marketing communications services from their homebase in Syracuse.