Upstate Deals and Doings – December 4, 2017

Deals, news and events for the investment community across Upstate New York


  • Natcore Technology, a Rochester, N.Y.-based research and development company focusing on alternative energy, raised PIPE financing to continue R+D on next-generation solar cells.
  • GCOM Software, an Albany, N.Y.-based software developer, has raised an undisclosed amount of growth capital from Sagewind and other investors (paywall).


  • HMT, a Cicero, N.Y.-based high-voltage engineering and technical services provider, was acquired by RESA Power with funding from Blue Sea Capital.
  • General Code, a Rochester, N.Y.-based codification and content management solutions company, was acquired by International Code Council. 

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Industry News

  • New York State announced the availability of up to $3.5M for innovative research and development proposals to accelerate the use of electric vehicles. The funding commitment supports the Governor’s Clean Energy goal to reduce greenhouse gas emissions 40% by 2030. Read more (paywall). 
  • Foreign entrepreneurs who want to build innovative companies in the U.S. received good news  when United States District Judge James E. Boasberg of the U.S. District Court for the District of Columbia ruled in favor of a lawsuit filed by the National Venture Capital Association (NVCA), entrepreneurs and startup companies on September 19, 2017 challenging the Department of Homeland Security’s (DHS) delay of the International Entrepreneur Rule (IER). 

Randy Bianchi, Managing Partner at Lakelet Capital and Upstate Capital's Board President, talks about entrepreneurial opportunity in Upstate New York, and his involvement with Upstate Capital.

Upstate Capital Events

  • 2017 Innovation Celebration - December 12 - Syracuse. Featuring GENIUS NY's top finalists, CNYBAC startups, keynote speech from Ana Dutra, national expert on corporate governance, and an expert panel discussion on building an effective Board of Directors for startups and established companies.

  • Investment Year in Review - January 18 - Buffalo. The event will feature an analysis of upstate NY investment trends with our data partner, Pitchbook.

  • Immigrant Entrepreneurship - February 7 - Ithaca. The Intersection of Immigration and Business with leading expert Steve Yale-Loehr.

Community Events

  • Medical Device Innovation Challenge Pitch Program - December 11 - Syracuse. Celebrate the success of the 2017 Medical Device Innovation Challenge teams while they participate in their final event, an investor pitch program.

  • BACC Academy Pitch Day - December 18 - Latham. Celebrate biomedical innovation as Siena College spotlights the Capital Region’s newest biomedical entrepreneurs.

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