Program FAQs
For Founders
What is the cost of the program?
Non-sponsored participants in the 12 week accelerator pay it forward by paying NY Crossroads (a nonprofit corporation) $25K. Payment may be made as a Post Money SAFE Note for 1%. Proceeds will be used to support regional entrepreneurship. Participants sponsored by state or regional partners may be exempt from payment obligation.
Does my company have to be located in the Hudson Valley?
We are focused on supporting and developing the Hudson Valley, which is the area from north of NYC through the Capital District. We offer the 12 Week Accelerator program remotely so participants can be located anywhere. Founders should be committed to being located in the Hudson Valley for at least 12 months if selected for and electing to participate in the venture competition.
What kind of companies fit this program?
We're looking for high growth sectors and focus on software, mobile, technology enabled, and scalable product businesses. We prefer revenue models that are recurring or transaction based with customer acquisition strategy that is repeatable and venture scalable.
At what stage should my company be to qualify?
We focus on pre-seed startups. We aim to help prepare startups for capital raises after founders exhaust friends/family resources and outgrow individual angel investors. We work with pre-revenue companies but we won't consider pre-product. Good prospective investments will have a presumptive MVP, early market feedback, and early indication/validation of market fit.
What does NY Crossroads look for?
We like to begin with compelling founder teams that have diverse experience, transformative vision, excellent communication skills, and the capacity to execute. Timing is everything, so we may build a relationship over time with an exciting prospect until they have reached a stage of development appropriate for our program.
How long does the program take?
The Accelerator program is a 12 week remote engagement. The Venture Competition is a multi-day live event in the Hudson Valley.
How much capital is accessed through your programs?
Each NY Crossroads Venture Competition aims to support NY State making (4x) $250k investments and (1) $500K investment.
For Investors
Who makes the investments?
NY Crossroads (a nonprofit corporation) will facilitate a process through which NY State makes investments. In addition, we work to help founders gain access and syndicate investment from our network of individual, institutional investors throughout the Hudson Valley and beyond. All participating investors must be Accredited Investors according to Rule 501 of the Securities Act.
Are you presently welcoming new investors?
NY Crossroads is always welcoming new investors to our process. Our goal is to enable growth in the Hudson Valley for high potential companies. An active and growing investor network is crucial to that goal.
Can I invest with NY Crossroads?
NY Crossroads works to facilitate opportunities for investment participation; however, investment decisions are left to individual investors and companies to work out. NY Crossroads is not a venture investment fund and does not make direct investments.