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Key people at First Growth Venture Network.
First Growth Venture Network was founded in 2000 by Ed Zimmerman (Founder & Chair) and Edward Zimmerman (Founder & Chair).
First Growth Venture Network is a New York-based startup accelerator program that provides free education, mentorship, and networking to early-stage technology companies without taking any equity stake. The organization connects founders with venture capitalists, angel investors, and industry experts to develop business and product strategies for scaling from the initial seed stage to the broader market. During its inaugural batch, the program supported 15 companies, resulting in 10 securing external funding and one achieving a successful acquisition prior to graduation. Subsequent cohorts maintained this operational scale, including a 10-company second batch and a 16-company Fall 2011 group, featuring portfolio startups like Adaptly, which was established by Nikhil Sethi and Garrett Ullom. Guided by Executive Committee Chair Ed Zimmerman, First Growth Venture Network was founded in 2009 by Jeff Zareski, John Garbarino, and Bryan Migliorisi.
Key people at First Growth Venture Network.
First Growth Venture Network (FGVN) was an early-stage accelerator and venture network based in New York City, focused on supporting very early startups without taking equity or charging fees.[1][4] Operating in investment management with ties to automotive and transportation sectors, it had around 6 employees and emphasized community-building through classes, networking, and advisor access led by industry experts, VCs, and entrepreneurs.[1][4] Its mission centered on fostering long-term success for startups that had raised less than $1 million, offering free participation regardless of location or prior funding, with no demo day—prioritizing education on business and product strategies over monetization.[4]
FGVN significantly impacted the burgeoning New York tech scene by accelerating startups toward funding and acquisitions; in its 2009 inaugural batch of 15 companies, 10 secured funding and one was acquired, while the second vintage saw 7 of 10 funded by graduation.[4] This no-equity model differentiated it from typical accelerators, building a supportive ecosystem for seed-stage innovation.[4]
Founded around 2009 by Ed Zimmerman, who served as Executive Committee Chair, FGVN launched its inaugural accelerator batch that year in New York City.[4] Zimmerman highlighted its "un-cola approach"—free for companies, no equity taken, and no demo day—aimed at creating a community of startups and advisors for sustained success amid the rising NYC tech ecosystem.[4] The network evolved from supporting 15 startups in its first vintage to announcing a 16-company Fall 2011 cohort (its fourth), focusing on very early-stage ventures with just a business plan and pitch deck.[4] Early traction was strong, with high funding success rates, establishing FGVN as an up-and-coming player in a competitive accelerator landscape.[4]
(Note: Related programs like VentureCrushFG continue this ethos today, offering equity-free pods with VC-led sessions on fundraising and scaling.[8])
FGVN rode the early 2010s NYC tech boom, when accelerators like Techstars and Y Combinator popularized structured startup support, but FGVN carved a niche by rejecting equity grabs amid a "burgeoning New York tech scene."[4] Its timing aligned with post-2008 recovery, when founders needed low-barrier access to education and networks without dilution—especially vital for non-Silicon Valley ecosystems.[4] Market forces like rising angel/VC interest favored its model, enabling high graduation success (e.g., 10/15 funded in 2009) and influencing peers to prioritize founder-friendly structures.[4]
By building advisor communities, FGVN amplified the startup ecosystem's diversity and resilience, paving the way for modern no-equity programs like VentureCrushFG, which echo its pods and themes (e.g., product-market fit).[8] It democratized acceleration, boosting NYC's reputation for innovation without gatekeeping capital.
FGVN's legacy endures through its alumni success and spiritual successors like VentureCrushFG, which in 2026 hosts in-person/Zoom events on scaling with top VCs (e.g., Jeff Bussgang, Karen Page).[8] As AI-driven tools and remote networks reshape acceleration, expect similar equity-free models to proliferate, emphasizing DEI and peer pods over demo days—trends FGVN pioneered. Its influence may evolve via Zimmerman's ongoing ecosystem role, tying back to its core: community over commerce for enduring startup wins.[4][8]
First Growth Venture Network was founded in 2000 by Ed Zimmerman (Founder & Chair) and Edward Zimmerman (Founder & Chair).
