State Senate approves bill to create incubator network

Under a bill introduced by Sen. William Stachowski (D-58th District) and recently passed by the state Senate, business incubators across the state would compete for operational funds allowing them to provide best-in-class support services to their tenant/clients. Sen. Stachowski's news release on S.7048 summarizes how the program would operate through the New York State Foundation for Science, Technology and Innovation (NYSTAR). The board of our association has endorsed this bill as an important step forward, because it would complement the state's past investments in incubator facilities with resources to help them achieve and sustain programmatic excellence. In order for this bill to become law, a counterpart version in the Assembly would be necessary, and any bill passed by both houses would of course have to be signed by the Governor. We will keep the incubator community apprised of progress.