Center for Economic Growth Launches Venture Readiness Program to Fuel High-Growth Startup Success in the Capital Region
(May 22, 2025) – The Center for Economic Growth (CEG) has launched the Venture Readiness Program, an initiative aimed at helping entrepreneurs build investor-ready ventures that fuel economic growth in the Capital Region.
The program is designed to strengthen the region’s pipeline of scalable startups in high-growth industries. It matches entrepreneurs with mentors to provide expert guidance on business model development, financial planning, market validation, and investor pitch preparation. The Venture Readiness Program amplifies existing startup and commercialization support from the Capital Region’s robust academic institutions, along with public- and private-sector resources. The program addresses key findings from recently completed regional strategies that highlighted the region’s lack of coordinated infrastructure and entrepreneurial support network to effectively build, attract, scale, and fund startups.
“Startup activity is a key driver of economic growth in dynamic regions across the country,” said Mark Eagan, President & CEO of the Center for Economic Growth. “We believe that the Venture Readiness Program will help entrepreneurs more easily access the many resources available to startups in the Capital Region, and it will bring new one-on-one mentorship and capital access to accelerate startup activity and success in our region.”
In addition to providing a single point of entry for entrepreneurs to access technical resources to grow their companies in the region, the Venture Readiness Program provides Capital Region startups with access to seed funding from Launch NY. The Venture Readiness Program and CEG’s operating agreement with Launch NY were made possible through grants from Empire State Development’s Upstate Revitalization Initiative and National Grid’s CleanTech Incubation Program.
“As the most active seed fund in New York State, Launch NY is thrilled to bring our resources to bear in the Capital Region, which has incredible innovation and startup activity,” said Marnie LaVigne, Ph.D., President & CEO of Launch NY. “Including capital that came from Capital Region investors, our new LP Fund II that is bringing nearly $16 million to promising founders across Upstate NY is open for business in partnership with CEG’s Venture Readiness Program.”
CEG’s Venture Readiness Program is now accepting applications from entrepreneurs across the Capital Region. Participants engage in a structured program designed to build business capacity, prepare for investment, and expand market reach. The program culminates in opportunities to pitch to investors, helping companies move from concept to scale. CEG has engaged Heidi Knoblauch, a recognized leader in entrepreneurial support and venture capital, and several highly experienced serial entrepreneurs to serve participating companies through all stages of the program. For more information about the Venture Readiness Program and to apply for participation, visit https://www.ceg.org/venture-readiness-program/.
As part of the program launch, Capital Region startup founders will have an opportunity to travel to New York City during NY Tech Week, one of the nation’s most prominent gatherings of founders, investors, and technology leaders. Through a partnership between CEG and NY Ventures, with financial sponsorship by Atrium Financial Group, Phillips Lytle LLP, and the Hudson Valley Venture Hub, participants will gain access to curated events and networking opportunities designed to elevate their visibility and connect them with potential partners and investors. Startup founders can sign up at: https://lu.ma/rhf058vm.
Jennifer Tegan, Managing Director of New York Ventures, said, “Bringing Upstate ambition to the heart of NYC Tech Week—this bus trip gives Upstate NY entrepreneurs the chance to connect with other top founders, dive into innovation, and share ideas with other tech leaders from around the state and country.”
“I am proud to support the trip to NY Tech week,” said Bill Newman, Founder and Private Wealth Advisor at Atrium Financial Group. “I want founders to think big and exposing them to NY Tech week is a great way to get them thinking bigger. I hope they come back to the region energized to build their companies.”
Jeff Schwartz, Partner at Phillips Lytle, said, “I’ve been part of the Capital Region for a long time and am excited by the renewed entrepreneurial momentum generated by CEG and others. Supporting the trip to NY Tech Week was an easy decision. It is exactly the kind of exposure our founders need to think bigger, connect to global networks, and bring that energy back home.”
About the Center for Economic Growth
The Center for Economic Growth (CEG) accelerates economic opportunity in Albany/NY’s Capital Region by developing and implementing strategies to attract, expand and create businesses and jobs. As the regional economic development organization, affiliated with the Capital Region Chamber, CEG is a catalyst that works with partners and stakeholders to shape a vibrant, thriving future.
CEG houses the region’s Manufacturing Extension Partnership (MEP) Center, Manufacturing Solutions, which provides strategic guidance to small-to-middle sized companies in manufacturing and technology sectors. www.ceg.org
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