What venture funds did for 10 startups with Long Island ties

Eight of the 10 Long Island affiliated companies that received $50,000 each from the Accelerate Long Island Seed Fund, matched by the the Long Island Emerging Technology Fund, went on to receive an additional $23.7 million in investment in recent years, although not evenly, according to data compiled by Newsday reporter James T. Madore.

Codagenix Inc. of Farmingdale, a vaccine maker, received the most additional money, $11.6 million, while one company received less than $250,000. You can read more about the investments here.

Investments in 10 new companies with ties to Long Island

Details on the companies

The institutions affiliated with these companies are Stony Brook University (SBU), Cold Spring Harbor Lab (CSHL), Northwell Health and Brookhaven National Lab (BNL). Additional investments are as of 12/1/2017. This data posted on Dec. 15, 2017.

Company name (location)What they do (Institution affiliation)FoundedTime of ALI/LIETF investmentInvestment by ALI and LIETFAdditional investmentsJobs at time of ALI/LIETF investmentJobs as of 12/1/17
Codagenix Inc. (Farmingdale)Vaccines (SBU)20122014$100,000 $11,600,000 28
DepYmed (Farmingdale)Drugs (CSHL/Northwell)20142015$100,000 $2,037,000 11
Envisagenics Inc. (Manhattan)Software for drug development (CSHL)20142015$100,000 $3,442,000 28
Goddard Labs Inc. (Manhattan)Food testing/consulting and research services (SBU)20112014$100,000 $0 11
PolyNova CardioVascular Inc. (Stony Brook)Prosthetic heart value (SBU)20122014$100,000 $245,000 10
Scannerside/Right Dose Inc. (Port Washington)Software for monitoring radiation dosages (SBU)20112015$100,000 $0 13
Green Sulfcrete LLC (Melville)Concrete made from recycled sulfur (BNL)20122014$100,000 $1,833,000 33
Symbiotic Health Inc. (Roslyn Heights)Drugs (Northwell)20132015$100,000 $850,000 22
SynchroPET Inc. (Stony Brook)Scanners (BNL)20112014$100,000 $1,160,000 18
Traverse Biosciences Inc. (Stony Brook)Drugs (SBU)20132014$100,000 $2,525,000 11