Cross-country collaboration to benefit the startup scene
(BUSINESS WIRE) NEW YORK The bi-coastal partnership between the accelerator and Sunstone Management, the early-stage venture financing firm based in Irvine, Calif., was formalised on May 17 during a ceremony held at the Lair East Labs headquarters in Midtown Manhattan.
Lair East Labs’s profile
A New York-based business accelerator called Lair East Labs gives startups the tools they need to go global. After graduating from the accelerator, our portfolio firms have raised over $45 million in capital in the first five years of operation. Our programme combines the best of both worlds by giving participants access to a network of mentors and investors with comprehensive knowledge of the U.S. and Asian markets while also providing them with the opportunity to learn from alumni founders of renowned Silicon Valley-style accelerators. Lair East Labs was named one of Crunchbase’s “Top 100 Accelerators Worldwide” in 2019.
Concerning Sunstone Management
Sunstone Management is a Southern California-based diversified private capital sponsor company that makes investments in a variety of early-stage technology entrepreneurs looking to create successful businesses. We firmly believe that the American economy has the aspirational capacity to draw in and awe investors and businesspeople from all over the world. Through the development of creative public-private partnerships, our extensive experience in the public, private, and educational sectors, and our distinctive perspective, we provide fresh and exciting options for economic growth. recognised three years running by Financial Times as one of America’s Fastest Growing Companies.
LEL, which was named one of Crunchbase’s Top 100 Accelerators Worldwide in 2019, focuses on startup entrepreneurs who are entering global markets. The LEL accelerator gives founders the tools they need to grow their companies in the US and connects them to opportunities in the Asian market.
A varied Southern California-based private capital firm called Sunstone Management makes investments in a range of early-stage technology entrepreneurs who have the potential to create successful businesses. Sunstone bases its investment concept on a strong emphasis on founder support.
John Keisler, the CEO and managing partner of Sunstone, and Michelle Wang, the managing partner of LEL, extended and expanded their previous agreement on Wednesday by signing a Memorandum of Understanding. It offers Sunstone help for startups joining LEL accelerator cohorts.
Michelle Wang stated that the core of Lair East Labs’ objective is “creating a global ecosystem for founders.” “Our expanded collaboration with Sunstone Management opens up a wealth of global resources, spanning the gap between the East and West coasts. Together, we give business owners, especially underrepresented startup founders, unmatched access to a diversified network of mentors, investors, and government services.
Jie Li, the director of LEL, noted that “this collaboration enables founders to tap into the vibrant startup communities of both the U.S. and Asian markets, opening doors to new opportunities, invaluable cross-cultural insights, and accelerated growth on a global scale.”
It is anticipated that up to 100 early-stage startups would pass through the accelerator over the next five years, gaining technical support with business strategies, marketing, scaling, and other things. The startups will receive assistance from LEL and Sunstone in finding further funding sources.
The timing of the partnership during Asian American Native Hawaiian Pacific Islander Month is particularly fitting, according to John Keisler, as Lair East Labs has strong contacts in both the East Coast and Asian markets. In terms of both the founders they draw and the connections to markets they offer, Lair East Labs “offers a global approach to entrepreneurship,” the author claimed. They have a concept and approach that complement what we do at Sunstone extremely well.