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Adarza Biosystems, graduate of HTR's incubation programs, announces $6.8m financing round including Siemens corporate VC unitSubmitted by admin on October 20, 2014 - 9:39am
Adarza Biosystems, a recent graduate of the incubation programs at High Tech Rochester, announced it has completed a $6.8 million Series A financing. A University of Rochester spinoff, Adarza developes advanced biosensor assays, mainly for health applications. It received early support from HTR and Rochester Angel Network, which is managed by HTR president (and former BIA/NYS board chair) Jim Senall. The financing round included participation by St. Louis-based Cultivation Capital and the venture capital unit of the mulitnational firm Siemens. For more information, see the firm's news release.
Ceramics Corridor incubators in WNY and Southern Tier have graduated 30 firms over the last two decades; case study of SCP in latest annual reportSubmitted by admin on October 20, 2014 - 9:25am
Over the last two decades, the two-site Ceramics Corridor Innovation Centers (incubator facilities in Alfred and Painted Post) has admitted and graduated 30 businesses, according to the incubators' latest annual report available on the CCIC website. Resident businesses have generated $97 million in employee payroll and employed 90 people on average each year.
The report also features in an interview with Martin Metzger, co-founder of early tenant Silicon Carbide Products (SCP), a manufacturerer of advanced ceramic components for challenging industrial uses. SCP now owns its own 30,000 square-foot manufacturing facility in Horseheads and exports 40% of sales globally. "Without the innovation center, it wouldn't have been possible for us to move here and start our business," Metzger recalls.
NYSERDA case study on Stony Brook's Clean Energy Business Incubation Program and four Long Island startupsSubmitted by admin on October 8, 2014 - 10:30am
The Innovation and Business Development group at NYSERDA, which sponsors the Clean Energy Business incubator Program hosted by our member Stony Brook University Incubator Programs, has published an excellent case study of how CEBIP has assisted four client companies, two resident at the university's Advanced Energy Center in its Research and Development Park, and two at existing commercial facilities off-site:
- Solar Cool, a student-initiated venture now developing a solar-power cooler with applications in leisure markets as well as transportation of temperature-sensitive medicine and vaccines;
- ThermoLift, Inc., developing a highly efficient heat pump system;
- WATT Fuel Cell Corp., developing a solid-oxide fuel-cell system;
- Havelide Systems, developing a new technique for converting natural gas to liquid for easier transport.
The case study also does an excellent job explaining how the CEBIP integrates with other aspects of the Long Island venture ecosytem such as Long Island Angels, and with other aspects of state policy such as the Innovate NY Seed Capital Fund and the START-UP NY tax-free zones. For more, please read the study.