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PowerBridgeNY, a cleantech Proof of Concept Center, joins BIA/NYS

PowerBridgeNY, a proof-of-concept center sponsored by NYSERDA to commercialize cleantech inventions, has joined BIA/NYS as our newest member. PowerBridgeNY was founded by Columbia University and the New York University Polytechnic School of Engineering, and it sources new inventions from  those institutions as well as at the City University of New York, Cornell NYC Tech, Brookhaven National Laboratory, and SUNY's Stony Brook University.

The PowerBridgeNY program operates as a virtual or pre-incubator, stepping faculty/postgraduate teams through a series of educational and mentoring sessions designed to help them sharpen the business case for their inventions. Winning teams are allocated up to $150,000 each to support any combination of applied research, market research, prototype development and testing, and market development. By aggregating access to excellent research spanning six institutions, PowerBridgeNY has been able to attract a strong panel of judges from the venture community and raise visibiity for the winners. For more information on the process, see Governor Cuomo's news release on the first round of winners.

Although PowerBridgeNY is a "virtual" incubator, it is based at NYU SoE's Urban Future Lab in MetroTech, which is also home to our member incubator the New York City Accelerator for Clean and Resilient Economy (ACRE), cosponsored by NYSERDA and NYCEDC. PowerBridgeNY is paralleled by Nexus-NY, a proof-of-concept center serving upstate academic institutions and independent inventors, housed at our member High Tech Rochester's Lennox Tech Enterprise Center. The Proof of Concept Centers program and the incubator program both fit in a spectrum of programs sponsored by NYSERDA's Innovation and Business Development unit. 

The membership by PowerBridgeNY also represents a return to our membership ranks of Columbia University, NYU's partner in the initiative. We warmly welcome all the participating institutions in PowerBridgeNY to membership!  

 

 

 

Pratt's Debera Johnson in Metropolis Magazine on the ideas behind the new Brooklyn Fashion + Design Accelerator

The current issue of Metropolis Magazine includes a piece by Debera Johnson, the founder and director of several related design incubation programs at Brooklyn's Pratt Institute. In this piece, Deb focuses on the philosophy behind the new Brooklyn Fashion + Design Accelerator set to open next month at the former Pfizer building. The article is here

Adarza Biosystems, graduate of HTR's incubation programs, announces $6.8m financing round including Siemens corporate VC unit

Adarza Biosystems, a recent graduate of the incubation programs at High Tech Rochester, announced it has completed a $6.8 million Series A financing.  A University of Rochester spinoff, Adarza developes advanced biosensor assays, mainly for health applications. It received early support from HTR and Rochester Angel Network, which is managed by HTR president (and former BIA/NYS board chair) Jim Senall. The financing round included participation by St. Louis-based Cultivation Capital and the venture capital unit of the mulitnational firm Siemens. For more information, see the firm's news release

Ceramics Corridor incubators in WNY and Southern Tier have graduated 30 firms over the last two decades; case study of SCP in latest annual report

Over the last two decades, the two-site Ceramics Corridor Innovation Centers (incubator facilities in Alfred and Painted Post) has admitted and graduated 30 businesses, according to the incubators' latest annual report available on the CCIC website. Resident businesses have generated $97 million in employee payroll and employed 90 people on average each year.

The report also features in an interview with Martin Metzger, co-founder of early tenant Silicon Carbide Products (SCP), a manufacturerer of advanced ceramic components for challenging industrial uses. SCP now owns its own 30,000 square-foot manufacturing facility in Horseheads and exports 40% of sales globally. "Without the innovation center, it wouldn't have been possible for us to move here and start our business," Metzger recalls.