Collaboration between the Center for Economic Growth and Regional Business Incubators
The Center for Economic Growth (CEG) announces a new Capital Region collaboration of business incubators, regional colleges and universities and the CEG. The group, Accelerate518, serves the region’s entrepreneurship ecosystem providing critical support to emerging start-up and early stage companies. Accelerate518 enhances the accessibility of resources and infrastructure and enables the successful growth of the 518-area new ventures and job creation.
“I applaud the partners of Accelerate518 for their vision and leadership in fostering innovation and entrepreneurship in the heart of New York’s Tech Valley,” said Congressman Paul Tonko. “Accelerate518 knows that in order to ensure the success of our region’s start-up ventures, we must provide them with support, resources and mentorship in a strategic, collaborative manner and with a regional mindset. I look forward to continuing to work with Accelerate518 to ensure the success of our region’s entrepreneurs.”
Two newly formed angel funds, Eastern New York Angels (ENYA) and IdeaSpec Venture Fund, LLC, are affiliates of Accelerate518 and are dedicated to provide seed and early stage capital to promising entrepreneurs.
“I don’t know if you have noticed but there is a revolution going on. One focused on innovation and entrepreneurial thinking. It is happening at the National level with StartUp America, at the State level with InnovateNY and right here in our region with Accelerate518,” said Michael Hickey, Executive in Residence and Executive Director, Center for Innovation and Entrepreneurship at Siena College. “It can’t happen at a more opportune time. This region has a history of effective collaboration and the current Accelerate518 members, with CEG’s guidance, are writing a new chapter. I am excited about the current progress as well as the future possibilities and have already rolled up my sleeves, let’s go!”
Members of the Accelerate518 collaboration include:
- Center for Innovation & Entrepreneurship at Siena College
- Emerging Ventures Ecosystem (EVE) at Rensselaer Polytechnic Institute
- Incubator for New Ventures in Emerging Sciences and Technologies (INVEST) at Russell Sage College
- Innogen Business Accelerator (affiliated with Union Graduate College)
- Lally School of Management at Rensselaer Polytechnic Institute
- Linc – The Lighting Cultivator
- Rensselaer Technology Park
- Severino Center for Technological Entrepreneurship at Rensselaer Polytechnic Institute
- School of Management at Union Graduate College
- Small Enterprise Economic Development Program (SEED) at University at Albany SUNY School of Business and School of Social Welfare
- Small Business Development Center at University at Albany, SUNY School of Business
- SUNY School of Business at University at Albany
- Watervliet Innovation Center at the Center for Economic Growth
“The Accelerate518 collaborative is comprised of a strong supply of mentors, programs, and facilities focused on developing the regional entrepreneur ecosystem and creating opportunities for budding entrepreneurs and young companies to connect with resources and support systems”, said Peter Pritchard, Manager of Technology Matching at CEG.
Accelerate518 will host a Student Entrepreneur Mash Up event tonight, October 5th. This is the first regional inter-collegiate student event of its kind and is free and open to all students in the area interested in entrepreneurship.
To follow, Accelerate518 will hold an information session October 13th for entrepreneurs seeking to commercialize innovative technologies without surrendering equity during the research and development (R&D) phase. The information session will help educate attendees on the Small Business Innovation Research (SBIR) and Small Business Technology Transfer Funds (STTR), which are federally funded programs that award R&D focused capital in two phases to startup companies with marketable technologies.
Information on these events can be found on CEG’s website at www.ceg.org or by calling 518-465-8975.
About the Center for Economic Growth:
CEG is the leading economic development organization in New York’s Tech Valley and serves as the Capital Region’s designated Regional Technology Development Center (RTDC). A private, non-profit, membership-based organization, CEG drives economic growth by working with partners in business, government, and education on strategic initiatives to grow local companies, attract new industry and investment, and prepare communities for future growth.
CEG receives significant financial support from Empire State Development’s Division of Science, Technology and Innovation, which works to facilitate the integration of innovation and technology throughout New York’s economic development efforts, the National Institute of Standards and Technology (NIST) / Manufacturing Extension Partnership (MEP), and National Grid.
As the designated RTDC for the New York State’s Capital Region and one of nearly 350 MEP locations across the country, CEG is charged with assisting local manufacturing and technology companies generate new sales, create stronger operational infrastructure, and overcome barriers to growth.. Visit www.ceg.org.