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News about tenant/clients of BIA/NYS member incubator programs.

NYU's Polytechnic School of Engineering recaps graduations, funding events, and acquisitions for 2014 at all three incubator sites

Graduations, funding rounds and acquisitions are the focus of a 2014 review of incubator operations released by NYU Polytechnic School of Engineering. The news release highlights the following developments at all three incubator sites (Varick Street, DUMBO, and the Urban Future Lab at MetroTech Center, which houses the NYC ACRE incubator):

  • $87.7 million in company revenue at both resident and graduated companies;
  • acquisitions of TapCommerce (by Twitter) and FileMobile (by Newzulu), bringing the number of acquisitions to eight;
  • graduations of CourseHorse, Vettery, Two Lines and a Dot, and KISI;
  • rapid growth by 2013 graduate Bounce Exchange, which now rents 30,000 square feet in Times Square; and
  • funds coming to incubator companies from competitions, crowd-funding campaigns, and the federal SBIR program.

The full report is here

Agronomic Technology graduates from Cornell's McGovern Center incubator, following Series A financing

Agronomic Technology Corp., which sells Adapt-N software to help farmers model and optimize nitrogen fertilization, graduated from Cornell University's McGovern Family Center for Venture Development in the Life Sciences, according to a news release by the university. The company is the McGovern Center incubator's first formal gradaute, and a licensee of technology developed in the laboratory of Prof. Harold van Es. Cornell President David Skorton attended the graduation ceremony.

The company's Series A venture round last October included participation from two upstate firms — Cayuga Ventures of Ithaca and Armory Square Ventures of Syracuse — and a North Dakota Fund (Arthur Ventures) that brought deep expertise in agribusiness. More background here

 

Final 2014 round of START-UP NY approvals includes eight more incubator collocations

The last batch of companies approved during 2014 for tax-free status under the state's START-UP NY program again includes several growing, expanding, and relocating companies that will collocate with our member incubators. Several approved campus-based START-UP NY Zones include space inside incubator buildings. You can search our member database by this or other important attributes here. According to the latest announcement from Governor Cuomo, companies approved for tax-free status while residing at our member incubators include:

RIT Venture Creations incubator graduates 5 fast-growings startups

The Venture Creations incubator at Rochester Institute of Technology held a group graduation ceremony, attended by U.S. Rep. Louise Slaughter (D-25th District). The ceremony honored the rapid growth of five companies that are now considered graduates of the RIT incubation program:

  • All Access LLC, a business-directory app, established 2012 and now employing 3 full time and 3 part-time;
  • BlackBox Biometrix, making blast-detection sensors for military and law-enforcement uses, established 2011 and now employing 23, 15 of them RIT graduates;
  • ClearCove Systems, with a new system for municipal wastewater, which has grown to 15 employees since entering the incubator in 2013;
  • Darkwind Media, a video game maker, founded 2007 and currently with 14 employees;
  • ThirtySix Software, with software to streamline office documents, founded 2009, currently 6 employees.

All Access and BlackBox have also employed RIT students as "co-ops" who receive paid internships under academic supervision for credit. 

For more information, see the university news release and the list of graduating companies.