With latest batch of REDC awards, 25 sites affiliated with our members statewide are now state Certified Business Incubators

Seven of our member incubators received “Certified Business Incubator” status from the NYSTAR division at Empire State Develpment Corp. (ESDC), and two more received major capital grants from ESDC as part of the annual competition among the state’s 10 Regional Economic Development Councils. This brings to 25 the number of sites operated by our members which have Certified Business Incubator designation. 

According to an award list released by Gov. Andrew Cuomo, our members receiving Certified Incubator status and its accompanying $125,000 annual operating grant are: 

We also congratulate two additional certified incubators that we hope will shortly join our membership: Mt. Sinai’s Med-Tech Incubator and the multi-site program of LaunchPad Long Island.

The Certified Incubator Program was created several years ago as part of a budget agreement between Governor Cuomo and the state Senate, resulting in the first-ever program of state operating supports for business incubators that demonstrate in statewide competition that they are operated according to best-practice standards. A majority of our member incubators are also affiliated with the state’s Innovation Hot Spot Program, which provides larger operating grants and certain tax benefits to client companies. Finally, more than 30 of our members have at least some space certified for completely tax-free occupancy by those companies that are approved under the state’s START-UP NY program. 

Two of our member incubators received major ESDC capital grants: 

We also congratulate all the additional winners of ESD grants for incubator construction, including programs at Hofstra University and the New York Institute of Technology that we hope will shortly join us. 

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