New York State’s startup ecosystem is known for its vibrancy, diversity, and unparalleled opportunities. From the bustling streets of New York City to the emerging tech hubs in Upstate New York, the state has cultivated an environment conducive to entrepreneurial growth.
In Part One of our series, we highlighted several prominent incubators and accelerators around the area. These organizations have played a pivotal role in driving the success of numerous startups, propelling them to become industry leaders.
Now let’s dive into the second part of our series, where we will continue our exploration of organizations that are at the forefront of fostering innovation, providing invaluable resources, mentorship, and support to entrepreneurs across diverse sectors.
In this exciting continuation of our series, we aim to inspire and empower aspiring entrepreneurs, providing insights into the diverse range of opportunities available within New York State’s thriving startup community.
Whether you’re an ed-tech enthusiast, a fashion and beauty innovator, or a technology disruptor, there is an incubator or accelerator tailored to your needs, ready to help you navigate the challenging path to success.
For a deeper dive into the startup and accelerator scene in New York, make sure to read part 1 of our blog series: Top Startup Incubators and Accelerators in New York State – Part One
StartFast Venture Accelerator
First on our queue is StartFast Venture Accelerator. It is a seed-stage venture capital firm that invests in recurring revenue software businesses outside the major startup hubs. They also have a focus on investing in diverse B2B SaaS companies.
StartFast was founded in 2011 by Nasir Ali and Chuck Stormon. The firm is headquartered in Syracuse, New York, and has a network of mentors and advisors across the United States.
They have invested in over 60 companies, including:
- CodeCombat: A gamified coding platform for kids. CodeCombat has raised over $10 million in funding and has over 1 million users.
- Impel: A SaaS platform that helps automotive retailers sell cars. Impel has grown its customer base by over 50% year-over-year with StartFast’s guidance and resources.
- Propstack: A real estate data platform that provides insights into the real estate market. Propstack has helped over 100,000 real estate professionals make better decisions.
StartFast is committed to helping founders build successful businesses. The firm enables its portfolio companies to scale their businesses by providing them with access to capital, mentorship, customers, partners, and the broader startup ecosystem.
They offer a 12-week program that offers mentorship, capital investment, and connections to experienced entrepreneurs and industry professionals. The accelerator supports startups at various stages of development, helping them refine their strategies, secure funding, and scale their businesses.
If you are a founder of a recurring revenue software business outside the major startup hubs, then StartFast may be a good fit for you. The firm can help you raise capital, get mentorship, and scale your business.
Waldencast Ventures
Waldencast Ventures is a holding company and investment fund that incubates and accelerates early-stage beauty and wellness brands in North America, Europe, and Latin America. It was founded in 2019 by Michel Brousset, former president of L’Oréal Group.
They invest in brand-led business models and go beyond traditional incubation and acceleration to develop a collective of innovative and unique brands that place responsible entrepreneurship at the heart of their operations.
They provide startups with the resources they need to grow and scale. This includes access to capital, mentorship, and a network of industry experts. Waldencast also helps its portfolio companies build their brands and reach new customers.
Some of the companies that Waldencast has invested in include:
- Sallve: A Brazilian beauty brand that offers clean, vegan, and cruelty-free skincare products. Sallve has quickly become one of the leading skincare brands in Brazil, with over 1 million customers.
- Revea: A personalized skincare brand that uses technology to create custom serums for each individual’s skin needs. The brand was founded in 2018 by Dr. David Saceda and Dr. Iwona Sajewicz. Revea is using technology to revolutionize the way skincare is personalized.
Waldencast’s investment thesis is to invest in early-stage beauty and wellness brands that have the potential to become category leaders. The firm looks for brands that have strong product innovation, a clear brand identity, and a dedicated team with a proven track record.
LaunchTime LLC
LaunchTime LLC is an incubator and accelerator that helps early-stage digital media and e-commerce ventures get started and grow. The company was founded in 2006 by Michael Pachter, a former investment banker, and Steve Kaplan, a former venture capitalist.
LaunchTime has a two-stage approach to helping companies grow. In the first stage, the organization provides companies with office space, mentorship, and access to its network of investors. In the second stage, they help companies raise additional capital and scale their businesses.
Some of the companies that LaunchTime has invested in include:
Guest of a Guest: Guest of a Guest is a website that connects people with invitations to exclusive events. The company was founded in 2006 by Michael Pachter and Steve Kaplan. Guest of a Guest has become one of the most popular websites for finding invitations to exclusive events.
Noom: Noom is a weight loss app. The company was founded in 2014 by Saeju Jeong and Artem Petakov. Noom has helped millions of people lose weight.
Thinknear: Thinknear is a location-based marketing platform that was acquired by Telenav. The company was founded in 2010 by Michael Pachter and Steve Kaplan. Thinknear helps businesses reach their customers with relevant ads based on their location.
LaunchTime has a strong track record of success. The company has helped its portfolio companies raise over $1 billion in funding and grow their businesses significantly.
Rho Acceleration
Next up is Rho Acceleration. It is a venture capital firm that invests in software and tech-enabled businesses. The firm was founded in 2014 by Habib Kairouz, George Bitar, Mark Roehrenbeck, Patrick Wack, and Peter Kalkanis.
Rho Acceleration invests in companies that are at the growth stage. The firm looks for companies that have a proven product-market fit, strong revenue growth, and a management team with a track record of success.
Some of the companies that Rho Acceleration has invested in include:
Crelate: Crelate is a sales engagement platform for the staffing industry. The company was founded in 2012 by Matt Brown and Mike Munson. Crelate helps staffing companies manage their sales process and track their leads.
Jobber: Jobber is a cloud-based scheduling and field service management platform for businesses. The company was founded in 2010 by Mike Lavoie and Mike Hall. Jobber helps businesses schedule their employees and track their work orders.
ProntoForms: ProntoForms is a mobile app that helps businesses create and collect data from forms. The company was founded in 2010 by Michael DeSimone and Rob Bernshteyn. ProntoForms helps businesses automate their data collection process.
With a focus on rural entrepreneurship, Rho Acceleration offers intensive coaching, mentorship, and connections to industry experts, helping startups refine their business models and attract investment. By nurturing innovation outside of traditional urban centers, Rho Acceleration contributes to the diversification and growth of New York’s startup landscape.
Seizing Success in the Startup Scene
As we conclude this comprehensive series on the top startup incubators and accelerators in New York State, we hope you have gained valuable insights into the diverse resources and support available for aspiring entrepreneurs.
The dynamic ecosystem of New York State offers a fertile ground for innovation, collaboration, and growth, making it an ideal destination for startups to thrive.
In this installment, we explored organizations such as StartFast Venture Accelerator, Waldencast Ventures, LaunchTime LLC, and Rho Acceleration. Each of these organizations brings a unique focus and approach, catering to the specific needs and challenges faced by startups in their respective sectors.
StartFast Venture Accelerator and LaunchTime LLC provide essential resources and support for technology-driven startups. Their comprehensive programs, mentorship, and access to networks help entrepreneurs refine their business models, secure funding, and scale their ventures. These organizations play a crucial role in propelling startups from the early stages of development to market success.
Waldencast Ventures contribute to the startup ecosystem by providing funding, expertise, and strategic guidance. By investing in early-stage companies and fostering partnerships, these organizations enable startups to realize their visions and navigate the challenges of scaling their businesses.
Rho Acceleration, on the other hand, focuses on rural entrepreneurship, supporting startups in sectors like clean energy, agriculture, and healthcare. By providing intensive coaching, mentorship, and connections to industry experts, Rho Acceleration fosters innovation outside traditional urban centers, contributing to a more inclusive and diverse startup ecosystem.
These organizations, collectively, exemplify the vibrant and collaborative nature of New York State’s startup ecosystem. From empowering young students to supporting technology-driven startups and fostering innovation in various sectors, they are driving economic growth, job creation, and technological advancements across the state.
As we conclude this series, it is evident that New York State’s startup ecosystem provides a wealth of opportunities for aspiring entrepreneurs. The incubators and accelerators highlighted in both Part One and Part Two have proven their value in supporting startups at different stages of development, providing critical resources, mentorship, and networks.
These organizations can be the catalysts that transform your entrepreneurial dreams into reality, helping you navigate the challenges, seize opportunities, and make a lasting impact.
We hope this series has inspired and provided valuable insights into the diverse range of opportunities available within New York State’s startup ecosystem.
It’s time to leap, leverage the resources, and turn your entrepreneurial aspirations into successful businesses. Join the vibrant community of entrepreneurs, tap into the wealth of knowledge and support, and make your mark on the thriving startup scene of New York State.
Making It Happen
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