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Tech Garden adds expansion space, new-business competition; affiliate will manage $1.5m for tech commercialization from NYS Innovation Venture Capital FundSubmitted by admin on February 16, 2015 - 7:50pm
Our supporting member The Tech Garden opened an 18,000 square-foot expansion wing and launched a $600,000 new-business competition. In addition, the sponsoring CenterState Corporation for Economic Opportunity won a $1.5 million allocation from the New York State Innovation Venture Capital Fund. The Tech Garden also manages the state-designated Central New York Innovation Hot Spot consortium.
- The Tech Garden II, opened in newly renovated space on the ground floor of the adjacent AXA Tower 2, eases capacity constraints at the main Tech Garden incubator and provides space for companies certified under the state's START UP NY tax-free program, operated in conjunction with Syracuse University. Tech Garden II will also house the closely affiliated NYSERDA-sponsored Cleantech Center. For information, see the news release from CenterState CEO.
- The new-business competition, called The Germinator, will award a total of $600,000 in equity investments made in increasingly competitive funding rounds every six months over two years. In addition to business advice and mentoring, participants may use the services of DevBox, an in-house development shop established by the resident Syracuse Student Sandbox. For more information, see a second news release from CenterState CEO.
- The Grants for Growth university/industry matching-grant program operated by the Tech Garden's sponsor CenterState CEO will now also manage $1.5 million in funds provided by the NYS Innovation Venture Capital Fund. The money will be used for pre-seed investments in technology commercialization from universities across 22 upstate counties, according to a news release from the office of Governor Andrew Cuomo.
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.
Syracuse paper interviews clean-energy entrepreneur Seth Mulligan, now leader at Tech Garden and Cleantech CenterSubmitted by admin on September 15, 2014 - 11:15am
In a Sunday feature on regional leadership, the syracuse.com website of the Post-Standard newspaper included an extensive interview with Seth Mulligan, a former clean-energy entrepreneur who now leads The Tech Garden downtown incubator and NYSERDA-supported Cleantech Center incubator. Both programs form key elements of the state-designated Central New York Innovation Hot Spot consortium.
In the story, Seth speaks about the revival of entrepreneurial culture in Syracuse being sparked by these programs, and outlines the high-technology sectors where progress is being targeted. Seth currently serves on the BIA/NYS board of directors, and we warmly congratulate him on this coverage!
Recently, syracuse.com also covered the opening the nearby new SALT Makerspace, an advanced prototyping facility in which The Tech Garden made a founding investment. SALT, which references a historically important element of Central New York business history, in this case stands for "Syracuse Arts Learning and Technology."
Tech Garden's NYSERDA-sponsored Cleantech Center graduates 3 firms, admits 6 new ones to incubation programSubmitted by admin on July 20, 2014 - 4:57pm
The NYSERDA-funded Cleantech Center operated by our member The Tech Garden announced the graduation of three companies and entrance of six new startups into its clean-energy incubation program. At the Cleantech Center, graduation generally indicates that a firm has developed a complete business plan, leveraged $500,000 in private capital, and sold its first product to paying commercial customers. Collectively, the graduates employ 33 persons in businesses that were just concepts several years ago.
Graduating the incubation program were:
- Cortland Research, which sells wireless-networked energy-management systems;
- Ephesus, which sells solid-state lighting fixtures; and
- Rapid Cure Technologies, which sells coatings that can be cured by energy-efficient and environmentally friendly techniques.
Entering the incubation program were:
- Green, developing recycling processes for electronic circuit boards;
- EkoStinger, developing drag-reducers for truck undercarriages;
- Full Circle Feed, which reprocesses food leftovers into dog treats;
- SparkCharge, which plans to offer a network of charging stations for electric vehicles;
- Windsor Wood, developing a treatment for wood products to enhance strength and durability; and
- Wireless Grids Corporation, provoding energy management systems for the built environment.
The Tech Garden also announced the reopening of its multimedia auditorium and conference center as the Fibertech Networks Theater. For more information, see the news release issued by The Tech Garden's sponsor, CenterState CEO, or coverage at the Post Standard's syracuse.com.