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Submitted by admin on January 25, 2015 - 4:04pm
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.
NYU's Polytechnic School of Engineering recaps graduations, funding events, and acquisitions for 2014 at all three incubator sitesSubmitted by admin on January 25, 2015 - 3:44pm
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 financingSubmitted by admin on January 23, 2015 - 10:03am
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.
Submitted by admin on December 31, 2014 - 1:53pm
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:
- Gradfly, Inc., which offers a platform for STEM students to showcase their work for schools and employers, to the Thomas Beecher Jr. Innovation Center at the Buffalo Niagara Medical Campus. Gradfly is also benefiting from a loan from the Seed Capital Accelerator program operated by BNMC in conjunction with First Niagara bank;
- Illuminating Diagnostics, LLC, developing rapid diagnostics for hospital-acquired infections, to SUNY University at Buffalo's downtown Biosciences Incubator;
- Nuenz, Inc., producing advanced materials, to the UB Technology Incubator at Baird Research Park in Amherst;
- FlightPartner, providing software as a service to air-charter transportation, to the CEWIT Incubator at Stony Brook University's Incubator Programs;
- UTS, LLC, developer of an ultracapacitor-based energy storage system for electric and hybid vehicles, to the AERTC Advanced Energy Incubator at Stony Brook's Incubator Programs;
- ProGen Life Sciences, developing diagnostic biomarkers, to Stony Brook's flagship incubator, the Long Island High Technology Incubator (LIHTI);
- Zuznow USA, Inc., an Israeli company developing a mobile-adaptation system for Web-based enterprise applications, to the CEWIT Incubator;
- NomoCan Pharmaceuticals, LLC, developer of cancer diagnostics, to the SUNY Downstate Advanced Biotechnolgoy Incubator.