Grants for Growth
Grants for Growth is a New York State funded program intended to help members of The Tech Garden who work with higher education partners scale their businesses from early-stage validation, through to garnering sales and institutional investments. The program operates in three phases, with funding ranging from $5,000 up to $100,000.
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Who can apply for Grants for Growth?
Only businesses with all of the following prerequisites will be considered for Grants for Growth:
- Member of The Tech Garden at the Basic Membership level for at least 6 months.
- Is an early-stage company.
- Demonstrates a level of engagement with higher education partner(s).
- Business must have established residence in one of the following NYS counties: Onondaga, Oneida, Monroe, Madison, Cortland.
How Does Grants for Growth Work?
The program operates in three phases (see below), and businesses must participate in the initial phase prior to moving to the next.
Applications open on the first day of the first month of each fiscal quarter (January, April, July, October) and must be submitted to The Tech Garden by the last day of that month. The applications will be reviewed the following month (February, May, August, November, respectively), with determinations being made at that time. To receive an application, please email Kate Oja.
If an applicant is not accepted at any phase, they may reapply again. However, companies can only receive funds one time in each phase. The Tech Garden is happy to assist those companies applying by reviewing their business plan, etc. To determine if they are a good match for application.
The applications will be reviewed and judged by a panel comprised of entrepreneurial and industry experts.
Applications open on the first day of the first month of each fiscal quarter (January, April, July, October) and must be submitted to The Tech Garden by the last day of that month. The applications will be reviewed the following month (February, May, August, November, respectively), with determinations being made at that time. To receive an application, please email Kate Oja.
If an applicant is not accepted at any phase, they may reapply again. However, companies can only receive funds one time in each phase. The Tech Garden is happy to assist those companies applying by reviewing their business plan, etc. To determine if they are a good match for application.
The applications will be reviewed and judged by a panel comprised of entrepreneurial and industry experts.
Grants For Growth Phases
1. |
IGNITION GRANT
Ignition Grants are intended to help Tech Garden members in the earliest business stage validate their business concept, meet necessary start-up expenses, etc. Ignition Grant applicants are not required to have a formed business entity to apply; however, applicants must demonstrate a commitment to Central New York, have a product or service idea that has technical feasibility, uniqueness, and commercialization potential. Ignition Grants are available from $5,000 to $10,000*. The project timeline is up to six (6) months. |
2. |
PRE-SEED GRANT
Once members have finalized their prototypes, they may apply for pre-seed grants from $10,000 up to $25,000*. Use of proceeds should be relevant to obtaining product market fit and completing the commercialization process. Applicants must demonstrate a commitment to Central New York. The Ignition Grant phase must have been successfully completed prior to applying for this phase. The project timeline is up to six (6) months. |
3. |
SEED FUND INVESTMENT
Seed Investment program is intended to help The Tech Garden members scale their business from commercialization to garnering sales and institutional investments. Applicants will have completed their prototype and third-party validation to focus on their customer/investor acquisition plan, business operations, talent recruitment and other scaling strategies. There will be a demonstrated commitment to Central New York. Applicants will have a minimum viable product (MVP) that aligns with The Tech Garden’s high-tech, high-growth focus. The maximum amount of Seed Investment available is $100,000* constituted by a convertible debt note with a four-year maturity at 3% interest. The Ignition Grant, and/or Pre-Seed Grant phase must have been successfully completed prior to applying for this phase. Project timeline is 18 months. |
* Tranches vary between 1-3. Requests for investment and/or grant may be approved, denied, or approved in part.