Accelerate Long Island

Accelerate ny innovation tc fund, l.p. is an early stage venture capital firm established on december 7, 2016 by anyitc fund gp, llc, the general partner, and new york state urban development corporation d/b/a empire state development. (esd), the limited partner, in accordance with the terms of an agreement of limited partnership (the partnership agreement). The partnership's general investment strategy is to provide funding for high-tech start-up companies in downstate new york state.

Ali was awarded a $500,000 grant from new york state empire state development to make working capital grants to technology firms on Long Island as part of a regional effort to support new technology startup companies and collaborations among Long Island's research institutions. The program was completed as of december 31, 2015.

The organization and a group of partners from its founding research institutions participated in the mit venture mentor service's immersion program and established a similar mentorship program on Long Island. This mentorship program adopted mit's "guiding principles", which involve a team approach to mentoring and establishing an "objective" relationship between the mentors and the entrepreneurs that does not involve other business relationships. The mentor program is now being administered by the center for biotechnology.