New York state is setting aside $2 million to invest in new high-tech businesses owned by minorities and women.
Governor Andrew Cuomo announced the investment fund on Friday, targeted at certified minority- or women-owned businesses.
The goal of the initiative to expand opportunities for entrepreneurs from diverse backgrounds while promoting economic growth around the state.
The money will be managed by a venture capital firm based in Rochester. Preference will be given to start-ups in the life sciences, green technology, advanced materials and other high-tech industries.
Copyright 2015 The Associated Press.
