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BioDrill, tenant at RIT Venture Creations, wins $225k NSF STTR grant to develop its anaerobic digester as STEM learning toolSubmitted by admin on January 23, 2014 - 8:49am
BioDrill Technical Solutions, a tenant at our supporting member the RIT Venture Creations incubator, won a $225,000 federal grant to further develop its technology as a game-based learning tool for Science, Technology, Engineering & Mathematics (STEM) curricula at the high school level, especially Advanced Placement environmental science and biology.
BioDrill sells a bench-scale version of an anaerobic digester that converts food and other waste into fuel, intended as an instructional tool. Under a Small Business Technology Transfer (STTR) grant from the National Science Foundation, the company will develop a game-based approach to help AP students learn how adjustable operating parameters affect output and yield, and how pricing in raw-material and end-use markets affects the economics of a conversion business.
Under the STTR and SBIR programs, federal agencies conducting or financing significant levels of R&D must set aside a specified percentage for competitive awards to small businesses, and in the case of STTR the selected businesses must be partnered with a college or university. STTR/SBIR awards are either grants or contracts without balance-sheet implications and are often used by seed-stage businesses as a way to finance reduction of technical risk prior to seeking private venture financing.
For more information, see the Venture Creations news release.
Two of our member incubator programs collaborate on new resource for upstate innovation & entrepreneurshipSubmitted by admin on January 22, 2014 - 9:59pm
Several units of SUNY's University at Buffalo, including the two incubators operated by the UB Office of Science, Technology Transfer and Economic Outreach (STOR), have collaborated with our member Launch NY to debut www.upstatenyresources.org, a new web resource for current and would-be entrepreneurs. For more information, see UB's news release.
Crain's highlights two diverse approaches to modernizing keys, both tenant/clients of our member incubators in NYCSubmitted by admin on December 30, 2013 - 4:37pm
Crain's New York Business highlighted two startups occupying different segments of the market for keys, and both firms are being incubated by our member incubators in New York City:
- KeyMe, which offers a system to host the description of physical keys so that backups and extra copies can be produced at retail kiosks, is a tenant/client of the NY Designs incubator at CUNY LaGuardia Community College;
- Kisi, which offers a system to allow smartphone users to open any electrically operated door, is a tenant/client of NYU-Poly's DUMBO Incubator.
RIT Venture Creations announces milestone for Sweetwater Energy, graduate of the affiliated NYSERDA Clean Energy Incubator, and new video series for regional entrepreneursSubmitted by admin on December 30, 2013 - 4:06pm
The Venture Creations incubator at Rochester Institute of Technology (RIT) announced that Sweetwater Energy, a highly successful 2012 graduate of the associated NYSERDA-sponsored Clean Energy Incubator, has signed a $100 million deal to supply California-based Pacific Ethanol with industrial sugars dervied from non-edible agricultural waste that can be fermented into fuels without driving up demand for food sources like corn.
This brings the volume of contracts signed this year to over half a billion dollars, and the firm is on track to reach $1 billion in 5 years. Sweetwater sells waste-derived sugars for use in ethanol-based fuels and industrial feedstocks to customers nationwide. Up to 50 jobs will be created in Rochester through a joint venture with Naturally Scientific. For more, see the attached news release.
Venture Creations also announced the release of a series of "Startup Insider" videos aimed at first-time entrepreneurs. Venture Creations director Bill Jones is featured in one of the videos, which are available here. For more, see the attached news release.