At a recent panel, Upstate Capital unveiled an exciting new initiative: Upstate Biotech Ventures, a seed-stage fund focused on revolutionizing health tech investments in Central New York. Partnering with SUNY Research Foundation and Excel Partners, the fund aims to bridge the gap in early-stage funding for innovative startups. Alongside capital, the fund offers access to clinical validation resources through regional medical institutions, which is essential for the success of emerging biotech companies.
During the panel discussion, key players shared the fund’s goals and partnerships. Jennifer Tan, Managing Director of New York Ventures, highlighted how the fund supports innovation in strategic sectors like life sciences. Nick Coris from SUNY Research Foundation emphasized the commercialization of research from SUNY campuses, while Ramy Katz, CEO of Excel Partners, elaborated on the fund’s structure and its potential impact on health tech startups. Katz stressed the importance of clinical validation, which is often a hurdle for startups but can now be addressed through this fund’s unique resources.
Upstate Biotech Ventures is starting with a $6 million fund, aiming to attract more investment from the community and expand over time. The panelists agreed that the partnership with SUNY and the Central New York Biotech Accelerator will not only support local startups but also help create a thriving innovation ecosystem in the region. By focusing on health tech, the fund is positioned to make a significant difference, both in terms of fostering innovation and generating a return for investors. The initiative underscores Upstate Capital’s commitment to driving growth in life sciences and supporting startups with the tools they need to succeed.