News about federal/state policy
Submitted by admin on May 14, 2012 - 1:53pm
Expanded the range of affordable incubator space for bioscience startups is one of the recommendations a new report from the Public Policy Institute of New York State (PPI), an affiliate of the Business Council of New York State. Entitled "Cultivating the Next Generation of Discoveries and Development in New York Bioscience," the report draws attention to our members including SUNY Downstate's Advanced Biotechnology Incubator and BioBAT, as well as RIT's Venture Creations, and it argues that more capacity is needed.
The report also favorably mentions S.6860/A10019, which would create an incubator network eligible for support through Empire State Development Corp.'s Division of Science, Technology & Innovation (dba NYSTAR). Our association's board of directors has also endorsed this bill, which is sponsored in the Senate by Sen. Martin Golden and in the Assembly by Assemblyman Robin Schimminger (co-sponsors Assembly Members William Scarborough, Donna Lupardo and Dennis Gabryszak).
Submitted by admin on November 20, 2011 - 5:30pm
Business incubators and associated innovation and entrepreneurship programming appear prominently in the strategic plans released by the 10 Regional Economic Development Councils appointed by Gov. Cuomo and chaired by Lt. Gov. Duffy.
The 10 plans differ in approach and construction, but all follow a general outline. After being judged by the Governor's team, these plans will determine the allocation of $200 million in capital funding (grants and tax credits) and influence the allocation of up to $1 billion in categorical grant support from diverse state offices and programs.
After the break are five summary tables showing:
- Business incubators including many in our membership are among the key assets and regional strengths identified in many of the regional plans;
- Every region's strategies include (among other goals) support, expansion and better leverage of the existing business-incubation system;
- About half the regions have made specific requests for capital funding for incubators and closely related infrastructure, among their priority projects;
- The regional vision statements generally address some combination of innovation, entrepreneurship and inter-sectoral collaboration: precisely the strenghts of incubation;
- Nearly every region proposes allied efforts in capital formation, emphasizing that incubation is not about buildings alone.
These findings are excerpted from long and complex documents and by no means represent the totality of the plans. However, if you see errors regarding the characterization of incubation, innovation and entrepreneurship, please do not hesitate to advise us via the site contact form.
Submitted by admin on November 1, 2011 - 12:00am
A report for the U.S. Economic Development Administration, co-authored by UAlbany Prof. David Lewis, finds that best practices in incubator management are strongly related to how well tenant/client companies perform on a number of outcome measures.
Some selected findings of the EDA-funded study:
- Top-performing incubation programs often share common management practices
- Incubator advisory board composition matters
- Neither size of an incubator facility nor age of a program is a strong predictor of client success
- High-achieving incubators collect client outcome data more often and for longer than their peers
- Most high-achieving incubators are not-for-profit models
- Public-sector support also contributes to program success
- Incubation programs with larger budgets typically outperform incubators with budget constraints
- No one incubator practice, policy or service is guaranteed to produce incubation program success. Instead, it is synergy among multiple practices that produces optimal outcomes
Prof. Lewis, who co-authored the report with researchers at the University of Michigan's Institute for Research on Labor, Employment and the Economy, was present at the first organizational meeting of the Business Incubator Association of New York State in Albany in 2005. He is also the author of a Guide to Business Incubation on our website. Congratulations on the release of this fine report, David!
Submitted by admin on July 12, 2011 - 8:03pm