A Global Perspective
Edited by Sarfraz A. Mian, Magnus Klofsten and Wadid Lamine
Chapter 10: Incubating high-growth technology firms through venture development organizations:an overview of the US and the case study of Launch NY
Chapter 10 introduces the Venture Development Organizations (VDOs) used for incubating innovation-based businesses with high-growth potential. Typically structured as nonprofits in the U.S., VDOs include two main components, mentorship, and capital access. As highlighted by information on more than a dozen VDOs in the U.S., they can vary on several dimensions such as their target audience, breadth of business support and financing programs, and metrics that ideally are tailored to the needs of their local & regional economic development strategies. The chapter features a case study of the development and growth of Launch NY, a nonprofit VDO formed in 2011 serving a 27-county urban and rural region in the western half of New York State.
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