Since 2009 the three three incubator programs operated by NYU-Poly have helped startups raise $60 million capital, generated $251 million in economic activity, and created 900 jobs, according to a new impact report released by NYU-Poly in conjunction with the fourth anniversary of the Varick Street incubator. NYU-Poly also operates an incubator in DUMBO and a NYSERDA-sponsored NYC ACRE cleantech incubator co-housed with Varick Street, and will open a new facility in downtown Brooklyn soon.
The impact study, which involved extensive field interviews with incubating and graduated companies across NYU-Poly’s two sites and three programs, found that the NYU-Poly incubators deliver six categories of benefit:
- Drive significant economic activity
- Foster production of ground breaking technologies in diverse industry sectors
- Benefit businesses through public/private participation and access to academic resources
- Strengthen NYU-Poly academically
- Create jobs
- Help start-ups raise capital