Funding

Albany banks on Island Harvest consolidation, growth

By GREGORY ZELLER // A hefty New York State grant will help a Long Island food-insecurity charity secure a permanent warehouse and expand its operations. Island Harvest Food Bank, a leading regional hunger-relief organization, has secured a $1 million award from Albany’s State and Municipal Facilities Program, earmarked for the food bank’s ongoing capital campaign. Specifically, the grant will be used to purchase a permanent building to consolidate Island Harvest operations. The organization currently leases…

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Lesko, SBU’s Donnelly to run $6M+ seed fund

By GREGORY ZELLER // Accelerate Long Island is back in business, and it’s main private-investment partners are coming along for the ride. The seed-funding business accelerator, which has been publicly quiet since awarding its 10th and final first-round stipend in December, has been awarded $3 million by Empire State Development to establish the Accelerate NY Seed Fund, with matching private investment planned. Unlike the original Accelerate Long Island charter – through which Accelerate teamed with…