"The genesis of the NYU Tandon Future Labs was to foster technology innovation and economic growth throughout New York City, providing entrepreneurs with an opportunity to beta test their young companies in one of the world's most vibrant urban centers so that they might succeed in any market," said Kurt Becker, vice dean for research, innovation and entrepreneurship. "WeDidIt's selection shows we're successfully encouraging entrepreneurs to start businesses, grow, and expand in New York City and beyond. We congratulate WeDidIt for winning this highly competitive distinction."
WeDidIt helps nonprofits raise more money and reach new donors online. The software service takes the hassle out of online fundraising and makes donor research simple and powerful. WeDidIt's platform aggregates donor data so that nonprofits can automate their prospect research and launch highly targeted fundraising campaigns.
Since launching in 2009, the combined Future Labs have helped companies create more than 1,250 jobs, raise more than $245 million in capital and generate a local economic impact of $352 million. The Tandon incubators have "graduated" 68 companies, including eleven that were acquired for a total exceeding $220M by established public and private companies. The Future Labs support early-stage companies with curated and individualized resources that include introductions to potential customers and top-tier investors, pro-bono service providers, talent, and mentorship from faculty and industry experts. Named one of the Top 10 Idea Labs in the United States by Worth magazine, it is one of the many ways the NYU Tandon School of Engineering uses technology in service to society.
43North was founded in 2014 and is made possible by Governor Andrew Cuomo's Buffalo Billion initiative with support from the New York Power Authority. 43North was designed to fuel the renaissance of Buffalo, New York. Winners of the 43North competition were judged based on factors including team knowledge of market, revenue and financing plans, and an assessment of the companies' opportunities.
"We're honored to be one of the eight companies selected for 43North's outstanding class this year," said Su Sanni, WeDidIt CEO. "Leading nonprofits depend on our platform because we make fundraising easy and effective. Being a member of the Future Labs' two-year Seed-to-Series A program provided the benefits of a rigorous accelerator along with access to NYU and its highly qualified students, faculty engineers in residence with domain expertise, world-class campus facilities and cutting-edge technologies. We look forward to continuing our growth in Buffalo and offering organizations better fundraising capabilities."
Although it takes no equity in startup firms, the Future Labs' incubation program provides startups with many, if not more, of the support services frequently employed by accelerator programs. These include monitoring milestones and one-on-one mentoring. As a result, the Future Labs boast a survival rate of nearly 90 percent for the companies that graduate from its incubators. This stands in sharp contrast to the typical failure rate of 80 to 90 percent for startup companies in general.
43North winners are required to relocate to Buffalo for a minimum of 12 months. In addition to cash prizes, 43North winners receive free incubator space, mentorship from experts related to their fields, and access to other incentive programs.
WeDidIt is helping nonprofits raise more money and reach new donors. With our donor intelligence and fundraising platforms, we've helped nonprofits like the Georgia Aquarium, the L.A. Mission, the Los Angeles Zoo, and hundreds of other organizations fund their missions. For more information, visit https://wedid.it.
About the NYU Tandon School of Engineering
The NYU Tandon School of Engineering dates to 1854, when the New York University School of Civil Engineering and Architecture as well as the Brooklyn Collegiate and Polytechnic Institute (widely known as Brooklyn Poly) were founded. Their successor institutions merged in January 2014 to create a comprehensive school of education and research in engineering and applied sciences, rooted in a tradition of invention, innovation, and entrepreneurship and dedicated to furthering technology in service to society. In addition to its main location in Brooklyn, NYU Tandon collaborates with other schools within the country's largest private research university and is closely connected to engineering programs in NYU Abu Dhabi and NYU Shanghai. It operates business incubators in downtown Manhattan and Brooklyn and an award-winning online graduate program. For more information, visit http://engineering.nyu.edu.
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SOURCE NYU Tandon School of Engineering