Startups

Legal help for millennials? Mobile, of course

By GREGORY ZELLER // Need an attorney? Mobile platform LawNearMe.com has one for you. Millennials preferred. Ease of attorney is not exactly a Miranda right, but it could be a lucrative business opportunity. That’s what entrepreneurial attorney Samuel Shusterhoff is counting on as he efforts to unite attorneys and “next generation” clients with immediate legal needs. By “next generation,” Shusterhoff – a Jericho native who launched LawNearMe.com out of a Massapequa office in 2014 (the…


Teq beefs up distribution partnerships

The good times roll on at educational software firm Teq, which this week announced two new reseller partnerships. In April, the Huntington-based producer of innovative classroom technology and online professional development solutions entered into an international distribution deal with Canadian firm SMART Technologies, allowing Teq to forge distribution agreements with SMART’s reseller partners throughout the United States and Canada. This week, the firm announced partnerships with two of those resellers: Piraino Consulting, which will make…


SetPoint Medical

Feinstein’s vagus research takes plenty of nerve

BY GREGORY ZELLER // What happens in vagus doesn’t actually stay there. Or at least that’s the theory behind electrical stimulation of the vagus nerve, a long cranial bundle that extends from the brain to the abdomen. Medical science is just scratching the surface of the therapeutic value of vagus stimulation, but new studies suggest it goes far beyond the treatment of certain forms of epilepsy and depression, two longstanding targets of vagus manipulation. Dr….


Steve Gold

And yes, you can have fries with this

BY GREGORY ZELLER // Cluck ’n Moo, an innovative substitute for the classic beef patty that introduces lean poultry to the mix, is ready to take wing. Inventor Steve Gold says the resulting beef-and-chicken hybrid lowers the fat and calorie content without skimping on taste or texture, and with Cluck ’n Moo already gracing supermarkets across New York, he’s on the hunt for $750,000 in venture capital to spread the word. Some members of the…


Leah Busque

State launches women-focused investment fund

New York State is unwrapping a $2 million investment fund to support minority- and women-owned business enterprises. The MWBE Investment Fund, managed by Rochester-based venture capital firm Excell Partners, will provide early-stage financing to certified minority- and women-owned startups, with a particular focus on high-tech ventures, according to a statement from Gov. Andrew Cuomo’s office. The “first-of-its-kind investment fund” will be a big help to a “vitally important part of the state’s economy,” the governor…


Goddard Labs snags biotech honor

Goddard Labs, a Calverton-based startup that has developed breakthrough food and water testing technology, has been named Best in Show of the Mid Atlantic Bio Angels’ 1st Pitch Life Sciences competition. Although the physical prize isn’t much — a polo shirt and a press release — the bragging rights are gold plated and the connections may one day be worth even more: MABA members are active investors from Delaware to Massachusetts with deep backgrounds in…


LaunchPad Huntington's Phil Rugile

Quick — how do I grow my business?

You’ve heard of speed dating and speed networking. Now comes speed … mentoring. Set for May 19, the program is an outreach by the state’s year-old Business Mentor NY initiative and is designed to match experienced businesspeople with new entrepreneurs, with the goal of creating broader – and, we hope, longer-lasting – relationships. Introduced by Gov. Andrew Cuomo in his 2014 State of the State Address, Business Mentor NY has attracted more than 750 volunteer…


Cooking With Chef Michelle

In gluten-free baking, still room for innovation

BY GREGORY ZELLER // Bakers are no longer known primarily for innovation. Television contests may demand interesting new shapes for cookies and cakes, but in the early 21st century, virtually every combination of eggs, butter and flour has been tried. The difference between a 350 or 375 degree oven has been well-documented. There are no baking worlds left to conquer. Save perhaps one. In an increasingly gluten-free world, many baked products prepared without traditional wheat-,…


CEO Allen Shayanfekr

Sharestates lands $30M to expand RE investments

Sharestates, the Great Neck-based online real estate investment platform, announced a $30 million commitment from Ranger Direct Lending Fund that will expand the startup’s  direct lending in residential, commercial and mixed-use properties in New York. Founded in 2013 by Allen Shayanfekr and title insurance veterans Radni and Raymond Davoodi, Sharestates focuses on financing fix-and-flip loans with an average value of $350,000.  So far, the firm has raised a total of $4.5 million for 13 projects. Ranger’s money could…


Tom Golisano

BUFFALO WATCH: More Paychex for Western NY

In another non-Long Island score for Gov. Andrew Cuomo’s Start-Up NY program, former Buffalo Sabres owner Tom Golisano is spearheading a “multi-million-dollar investment” that will bring 267 new jobs to Western New York. The undisclosed investment by Golisano, founder of Rochester-based payroll-services company Paychex, will help tech manufacturer Bak USA create 167 new positions and expedite the creation of 100 jobs the company committed to when qualifying for Start-Up NY tax benefits. Bak USA, one…


Traverse CEO Joseph Scaduto

Traverse Biosciences inks R&D, licensing deal

BY GREGORY ZELLER // Stony Brook-based startup Traverse Biosciences has inked an exclusive R&D agreement that could lead to an $8 million sublicensing option. Traverse, a resident of the Long Island High Technology Incubator at Stony Brook University, announced today that it has executed a $250,000 cooperative research and development agreement with Kansas-based Aratana Therapeutics to advance Traverse’s leading drug candidate, TRB-N0224, a potential treatment for periodontal disease in dogs and cats. Traverse Biosciences has…


LIAN Chair Michael Faltischek

DEBRIEF: Michael Faltischek, LI Angel Network

As chairman of the board of the Long Island Angel Network – which has reviewed over 600 financing applications and brokered in excess of $5 million in investments – attorney Michael Faltischek is point man in the local effort to unite entrepreneurs and investors, a mission plainly focused on the Island’s future success and growth. He is earnest and good-humored about this mission, but be careful when you suggest the network has a “tech” focus….


David Hershberg, STS Global

CEWIT residents soft pitch the Angels

The board of the Long Island Angel Network heard presentations from four aspiring companies on Friday and, for a change, not one of them was asking for money. Soliciting investments was not the main goal of this particular meeting, held at Stony Brook University’s Center for Excellence in Wireless and Information Technology. The idea, noted Michael Faltischek, the LIAN chairman, was “more a means of educating the board about what CEWIT has to offer, to…


Bettr founders Asish Pandhi and James Knaus.

Ashish Pandhi and James Knaus have a Bettr idea

By GREGORY ZELLER // Even Ashish Pandhi and James Knaus know it can’t be this easy. That’s why the entrepreneurs continue to tinker tirelessly on the functionality and marketing of Bettr, a social media-management platform that aims to “give people a voice and make a difference in the world,” according to Knaus. Bettr won’t officially launch until this fall, but the precursors to the final product, Queue+ and Archive Poster, have achieved enough success that the…


cpxi challenge winners

Lift Stick wins $50K in Hofstra biz plan contest

Hofstra students Nick Calderon and Kevin McCroary won the $50,000 top prize in the annual CPXi VentureTech student business plan contest on Wednesday for The Lift Stick, a device that alerts the wearer to improper posture that could lead to lower back injury. The pair have already begun sales of the Stick, but will get a significant leg up in production and marketing with their first-place winnings. Two teams tied for second place in the…