Submitted by admin on April 25, 2016 - 3:39pm
Startups being incubated by several of our Rochester-area member incubator programs won all three top prizes at the annual Rochester Venture Challenge:
- Tencar, Inc., developer of a novel system for ostomy-bag users, based at the Innovation Zone at MedTech Centre operated by Genesee County Economic Development Center, won the grand prize of $25,000 in cash. For more information, see coverage in The Batavian or The Daily News.
- NullSpace VR, a student-initiated venture housed in the UR student incubator at High Tech Rochester's Lennox Tech Enterprise Center, won second prize of $5,000 in cash and additional rent credits at HTR. For more information, see this profile of the student incubator in The Democrat and Chronicle.
- Molecular Glasses Inc., a developer of organic LED materials, currently manufacturing at Eastman Business Park and a client of both RIT's Venture Creations incubator and the NYSERDA-supported NEXUS-NY proof of concept center operated by High Tech Rochester, won third prize of $2,500 in cash plus rent credits. For more information, see coverage of Molecular Glasses in The Democrat and Chronicle.
Another Venture Creations client, Cenify, LLC, was a runner-up in the challenge. For more information on the annual Venture Challenge, see HTR's news release.
Submitted by admin on April 8, 2016 - 9:29am
Five teams developing clean-energy/cleantech startups derived from university laboratory discoveries were admitted into the latest cohort of PowerBridgeNY, a NYSERDA-supported proof of concept center that functions as a pre-incubator.
The winning teams — two each from NYU and Columbia, and one from Stony Brook University — will receive funding to advance "customer discovery" as part of determining the optimal strategies for commercialization.
Decisions were guided by a judging team of industrial scientists and professional venture investors. Teams include an entrepreneurial lead separate from the faculty inventor as well as one or more industrial mentors. For more detail, see the announcement.
Admitted to the program were teams advancing efficient power transformers; clean burning of methane from landfill; a robotic vessel for gathering environmental data in aquatic environments; energy-efficient roof coatings; and biologically mediated cleanup of contaminated sites.
Submitted by admin on April 8, 2016 - 9:15am
The Peyton Hall Incubator at Clarkson University highlighted several of its 34 resident firms during a recent tour for St. Lawerence County officials, timed to coincide with release of a regional economic-development strategy commssioned from McKinsey by the New York Power Authority.
According to news coverage in the Watertown Daily Times and North Country Now, Peyton Hall tenants have raised $10 million in private capital. The Shipley Center for Innovation at Clarkson supports not only the incubator in downtown Potsdam, but a network of five satellite locations across the North Country region, through a state-designated Innovation Hot Spot.
Submitted by admin on April 8, 2016 - 8:37am
The Enterpreneurship and Technology Innovation Center (ETIC) at the New York Institute of Technology (NYIT) has joined BIA/NYS as our newest member, at the "supporting" level that recognizes statewide leadership in business incubation.
The 8,000 square-foot facility targets serving independent entrepreneurs in three sectors: IT and cybersecurity; bioengineering and medical devices; and energy and green technologies. It will also be integrated with student business-plan competitions on campus.
The ETIC was built with funding from the U.S. Economic Development Administration (EDA), matched by a capital grant from Empire State Development (ESD) announced earlier in the year. The incubator is being managed by Dr. Marta Alicia Panero, and the project champion is NYIT Dean of Engineering Prof. Nada Marie Anid.
For more information, see last year's news release from NYIT. We warmly welcome ETIC to membership and thank NYIT for its leadership and support!
Submitted by admin on March 26, 2016 - 3:41pm
Over at Upstate Venture Connect, there's an excellent blog entry featuring an interview with Nandita Bal, chief engineer of Geri-Safe, a startup develoing technology to help older adults. In the interview, she describes how her team's venture leveraged the Hardware Accelerator sponsored by the Southern Tier Startup Alliance (the state-designated Innovation Hot Spot) and then decided to enter the Rev: Ithaca Startup Works physical incubator:
The $2,000 in development funds that I received as part of the Hardware Accelerator program was enough to get a functioning prototype–the 3D printer in the Rev prototyping lab helped us test a lot of the small details of our specific designs before considering manufacturing. And the mentors were always there to guide me, so my work never stopped. There are so many events that keep happening at Rev, so the whole community thinks of Rev as the place to come talk about startups. For networking, that was great. The university, the location, the mentorship, the space, the Hardware Accelerator workshop, the network–those are what made me stay in the Southern Tier.
The Hardware Accelerator got started last year with a grant from the U.S. Small Business Administration (SBA). For the rest of the interview, please follow this link.
Submitted by admin on March 26, 2016 - 3:05pm
NYC ACRE, the NYSERDA-sponsored cleantech incubator at NYU's Tandon School of Engineering, has announced a collaboration with Greentown Labs of Somerville, Mass. Under the networking agreement, companies at either incubator will have access to events, professional connections, and even temporary desk space when visiting the other city on business. The programs will also exchange information on best practices. For more information, see NYU's news release.
Submitted by admin on March 26, 2016 - 3:18pm
Our member The Entrepreneur Space is celebrating its 5th anniversary and also the graduation into commercial space of Little Bird Fire Bites, which produces chocolate-covered jalapeño treats. In his executive director's newsletter, Queens Economic Development Corporation's Seth Bornstein recounts:
They rented the Entrepreneur Space for their first shift in May 2013. Then, they refined their recipes. They learned how to transform a product they used to make in their home kitchen into one that could be mass-produced. They learned how to market their product. Their packaging became professional, and they developed a great website. Slowly, they added additional shifts and staffers. In the last year, demand for their fiery chocolate has grown at a quick clip. (It's sold on line and in specialty stores around the country.) Fast forward to today, and as is the case for all little birds, they are leaving the nest. Late last year, they informed us they were going to move into their own facility because they had outgrown the E-Space. (In fact, they recently had their last shift in Kitchen D.) Over the last three years, they have grown wings, as evidenced by their staff of six and increased revenues.
Submitted by admin on March 19, 2016 - 8:08pm
Our member Rev: Ithaca Startup Works, a collaboration of Cornell University, Ithaca College, and Tompkins Cortland Community College, won "Economic Development Project of the Year" from the Downtown Ithaca Alliance. Rev anchors a newly expanded building a block east of the Ithaca Commons.
Congratulations to Rev director Tom Schryver, executive director of Cornell's Center for Regional Economic Advancement and vice chair of the BIA/NYS board. For more information see the Cornell news release.
Submitted by admin on March 19, 2016 - 8:28pm
Submitted by admin on March 19, 2016 - 8:19pm
Launch NY, a virtual incubator and "venture development organization" serving multiple counties in Western and Central New York, made its first seed investment of $50,000 in the form of a convertable loan to Rachel's Remedy, a portfolio company of the privately operated Z80 Labs incubator in Buffalo. Rachel's Remedy developed and sells "relief packs" for nursing mothers.
For more information and background from Launch president Marnie LaVigne, please see coverage in Buffalo Business First. For more background on how Launch NY helped Rachel's Remedy, see also this video, embedded after the break.