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New York: Over $1m invested in minority and women-owned companies

Staff Writer | March 6, 2017
Over $1 million has been invested in five early-stage companies through the New York's Minority and Women-owned Business Enterprise Investment Fund.
Minority and women-owned
Empire State   Based in the Finger Lakes and New York City
Based in the Finger Lakes and New York City, the companies have also received over $1.9 million in private matching funds and are expected to create more than 115 jobs by 2018.

The MWBE Investment Fund provides equity to support innovation, job creation, and high-growth entrepreneurship throughout New York by investing in State-certified MWBEs.

n May 2015, Excell Partners was competitively selected to manage the fund and invest in early-stage MWBEs with significant growth potential, primarily in emerging technologies.

The MWBE Investment Fund builds on Governor Andrew M. Cuomo's record of achieving equal opportunity in state contracting through state programs that encourage MWBEs to become certified and provide them with technical and financial support.

These programs provide MWBEs with the tools necessary to win larger contracts, promote job creation, enter new markets and strengthen our economy.