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Syracuse media feature rapid growth of Tech Garden tenant Swipe to Spin into new markets

Swipe to Spin — a tenant of The Tech Garden incubator that sells technology to enable 360-degree product views on websites — is on a "hiring spree," according to coverage on the Syracuse Post-Standard's syracuse.com website.

The story recounts how adding a new market in auto dealerships has enabled the company to quadruple its workforce to 25 over the last several months, and to plan adding 50 more jobs by the end of 2015. Although the company maintains a four-person office in New York City, 95 percent of the new jobs will be created in Central New York, where the founders are from, and the company has no plans to relocate. For the full story, read here

BioInc@NYMC admits first three tenants

Three initial tenants have joined the BioInc@NYMC incubator, according to coverage in the Mid Hudson News linked on the college's website. The three initial entrants are: Conversion Energy Enterprises, which develops medical lasers; MB Group USA, which produces food sweeteners tailored to specific medical needs; and MOE Medical Devices, developer of therapeutics based on cold electrical plasmas.  More local media coverage here

 

UB Technology Incubator to add coworking space 'tenX'

The University at Buffalo Technology Incubator, one of the state's longest-standing and most successful incubator programs, will add a new 1,400-square-foot coworking space dubbed tenX. The UB Technology Incubator joins a growing number of our member incubators that operate or house a co-working space as part of a broader, fully developed business-incubation program. More media coverage in Buffalo Business First here.

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:

Our member incubators gain Innovation Hot Spot status and major capital awards in the state's fourth Regional Economic Development Council competition

Four of the five regions winning state-designated Innovation Hot Spots in the latest round of the Regional Economic Development Council competition went to our member incubators or consortia involving them. These awards carry the ability to grant certain tax-exemptions to qualifying incubator tenant/clients, and also $250,000 operating grants from the NYSTAR division of Empire State Development. For the full list of awards, see the booklet here. Here are the awards that involve our members:

  • In the Mohawk Valley, our member thINCubator, a project of SUNY's Mohawk Valley Community College, won the award;
  • In the Mid-Hudson Valley, our member BioInc@NYMC, a project of New York Medical College, won the award;
  • In the Capital Region, a consortium coordinated by SUNY Albany and also involving our members CEG Innovation Center and RPI Emerging Ventures Ecosystem won the award, and we expect the Hot Spot itself to join us as a member;
  • On Long Island, the Long Island High Technology Incubator (LIHTI) at our member the SUNY Stony Brook Incubator Programs won the award; and
  • In New York City the award went to the CUNY Innovation Hub, which we expect shortly to join our membership ranks.

The REDC process also resulted in major capital awards to our members the Ceramics Corridor Innovation Centers ($300,000 for a manufacturing-oriented facility in Chemung County), and High Tech Rochester ($5 million for consolidation in downtown Rochester of its regional Finger Lakes Business Accelerator Cooperative). Here is some news coverage of that awards:

  • Governor Andrew Cuomo's news release, which describes the funding that will permit HTR's accelerator actitivites to occupy the top floor of the renovated former Sibley's department store; 
  • Coverage in the Rochester Business Journal, which adds detail on the facility: a 68,000 square-foot incbuator with space for both "tech" and biotech startups, a 100-seat auditorium, and a roof deck; and
  • News release and fact sheet from HTR itself, which also discuss plans for HTR's existing Lennox TEC incubator in Henrietta and the new incubator's connection to the growing Rochester Downtown Innovation Zone. 

Warmest congratulations to all our members who did well in the fourth REDC round, welcome to our planned new members, and thanks to the State of New York, the Governor, and the Legislature for renewed strong support of business incubation and related activities. 

BIA/NYS sets Friday, June 12th, for 2015 annual meeting in Ithaca

The Business Incubator Association of New York State, Inc., announces that our 2015 annual meeting will be held on Friday, June 12th, in Ithaca. This is the first time our annual meeting has been held in the Southern Tier economic region. 

Our meeting is the singular statewide event where practitioners of innovation & entrepreneurship meet to talk about incubation and related activities, along with critical partners from the government, university, and private sectors.

We are co-hosted this year by our three member programs in Ithaca: Cornell University's McGovern Family Center for Venture Development in the Life Sciences; the Cornell Business & Technology Park; and Rev: Ithaca Startup Works, a collaboration of Cornell, Ithaca College and Tompkins County Community College that is also the coordinator of the state-designated Southern Tier Innovation Hot Spot. Our physical meeting site will be the ground-floor meeting room of Cornell University's Biotechnology Building

Come join us to discuss what's happening in incubation in the Southern Tier and statewide, including a panel on leveraging incubation facilities with the support of federal, state and local government programs (NYSERDA is already confirmed as a participant), and updates from our partners at Empire State Development and the state Senate. About half the day is open to the public, with a short business meeting for members only in the afternoon, followed by tours for all of our member incubators.

As a bonus, we will be co-programming and co-promoting our annual meeting with the UVANY (the Upstate Venture Association of New York), which is planning a public event the night of June 11th. Reduced-rate admissions will be available on a reciprocal basis to attendees of each event for the other. 

We thank our meeting sponsors confirmed to date: the New York State Energy Research and Development Authority (NYSERDA); the Cornell Business and Technology Park (which is also a member); and Tompkins County Area Development (TCAD).

Please hold the date and watch this space for updates on agenda, confirmed speakers, additional sponsorships, and a registration site that will launch in January. 

A block of reduced-rate block hotel rooms has been reserved for Thursday and Friday nights at the Marriott Courtyard Ithaca, in the Cornell Business & Technology Park at Tompkins County Airport, a short ride from campus. In making reservations, please use the preceding customized link or call the hotel and cite meeting name BIANYS. Parking reserved in garage accessible off Campus Road, adjacent to the stadium. Signs will be in place.

CBTP logo

TCAD logo

Eventbrite - BIA/NYS Annual Meeting 2015

Latest group of START-UP NY approvals includes several companies collocating with our member incubators

The latest batch of companies approved for tax-free status under the state's START-UP NY program includes several 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 Empire State Development, growing companies approved for tax-free status while residing at our member incubators include:

The news release does not specify physical location in every case, and it is possible that the number of collocations is actually higher than this.

We are proud of the role that our member incubators are playing in providing space and university connectivity to growing companies approved under the START-UP NY program. 

Pratt's Brooklyn Fashion + Design Accelerator throws open doors to hundreds of guests, wide media attention

Our member the Brooklyn Fashion + Design Accelerator, a project of the Pratt institute, held a grand opening attended by more than 500 guests, and gained wide attention by local and fashion-oriented media:

Created on the 7th floor of the building formerly occupied by Pfizer's Brooklyn manufacturing plant, which is being redeveloped to house a range of specialty-foods and other artisanal manufacturers, the BF+DA provides space and mentoring services for fashion entrepreneurs, as well as automated knitting machines that allow fashion startups to produce buyer samples on very rapid turnaround. 

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