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New York BizLab Helps Tech Companies Grow Smart And Grow Fast

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The New York BizLab is a business technology accelerator focused on businesses in EdTech, software and app development space. Below is our interview with Rick D’Errico, Managing Director of the NYBizLab:

Rick DErrico
Q: For those who have never heard of it, how would you describe New York BizLab?

A: The New York BizLab is an accelerator created to help tech companies grow smart and grow fast. The focus is EdTech, working with companies selling products or services to the K12 market. Other focus areas include logistics and technology such as software development and app development.

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Q: At what stage of development should companies be when they apply for your program?

A: They should have a product, even if rudimentary. It should be beyond the concept stage but they will likely be still in development and pre-revenue.

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Q: How do you process your applications?

A: We meet with leaders of every company and basically conduct an interview to determine if there is a fit both with our mission and also determine if they look like a good fit with the existing tenants. As the New York BizLab builds this innovative ecosystem, it is crucial that all the companies “play nice” with each other. The goal is to create synergies across the hallways.

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Q: Do you have any particular advice for startups planning to raise capital?

A: Be careful to determine what type of money you want. Not all capital is the same. Determine what the money is needed, why it is critical. If it isn’t critical, then raise capital with revenue! Don’t raise more than you need and don’t give away the store. Seek guidance from smarter people than yourself about different options that are available and weight those options.

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