Page 42 - 2023 Westchester County Economic Development Guide

40
WESTCHESTER COUNTY ECONOMIC DEVELOPMENT GUIDE
Cultivating and Advancing Talent Entrepreneurship and Innovation Fueling Entrepreneurship
and Innovation
Under the guidance of Director of Entrepreneurship and Innovation Deborah Novick, Westchester County advances entrepreneurial talent through three signature programs: Launch1000, the Westchester County Biosciences Accelerator and e Element 46 Tech Accelerator.
Above: Deborah Novick, Westchester County Director of Entrepreneurship and Innovation
Opposite, Top: e Fall 2022 cohort of e Element 46 Tech Accelerator Powered by Cela presented their diverse and innovative business concepts to stakeholders at
their graduation “Demo Day.”
Driving Healthcare Innovation: The Westchester County Biosciences Accelerator
e Westchester County Biosciences Accelerator (WCBA) is the County’s first and only competitive-entry, six-month program of personalized entrepreneurial education delivered for first time founders of Life Sciences ventures focused on healthcare innovation.
e WCBA addresses individual needs by utilizing accredited
entrepreneur coaches and expert mentors to cra unique, educational experiences crucial to the development of successful ventures. e WCBA teaches founders how to find grant and foundation funding, and provides insightful resources to strengthen future investment outreach.
e program’s unique and expansive network of over 40+ WCBA alums engages with participants to further elevate founders’ business acumen and networks. Program alums have raised $3M and added over 22 new employees.
As of 2022, nearly 80% of alum ventures continue to achieve significant business milestones. Read more about Accelerator participant Jeannette Mahoney, PhD on page 26.
Accelerating Ideas: Launch1000 Launch1000 is a fully remote, six-month idea accelerator program with a curriculum that focuses on helping entrepreneurs understand their chosen market, fine-tuning their business plan and getting their businesses up and running. e program additionally provides laptops and free WI FI to participants.
Launch1000 is presented in partnership
with Entrepreneur Ready, a community-based accelerator program with a proven process to de- risk and evaluate the viability of a business idea.
“We’re pleased to share that over 350 entrepreneurs have gone through the program and have launched businesses that have earned revenue,” says Novick. “ is has been
a been a great investment from the County’s perspective – we’re excited to be recruiting for the next cohort.”
Catalyzing Entrepreneurial Growth:
The Element 46 Tech Accelerator Powered by Cela
Element 46 offers entrepreneurs a full, multi- week virtual curriculum, pitch and networking events for founders, access to a mentor network of investors and successful technology entrepreneurs, corporate and technology partnerships, and cutting-edge technology and business skills. e Accelerator runs for 12 weeks every spring and fall.
e most recent cohort of 11 participants
was selected in a competitive, County-wide selection process in the summer and early
fall of 2022. Each founder was matched
with hand-picked mentors who are leaders
in technology, finance, business strategy, venture capital, marketing and other key areas. Participants also gained access to a world- class curriculum on fundraising, customer development, executive management, product iteration, branding, marketing and more.
is was the first program produced in partnership with Cela Innovation, experts in tech accelerator programming and operations.
At the program’s final Demo Day, the Fall 2022 Element 46 cohort delivered their pitches live in front of investors, corporate partners, potential key customers, and press.
© Courtesy of Westchester County Government