Week in Review: June 21 – June 25, 2021
Stay up-to-date on business and economic development happenings in the Capital Region with the CEG Economic Development Week in Review. Don’t miss out on the developments that are transforming the region by following us on:
CEG IN THE NEWS
Albany Business Review: Capital Region companies less open to remote work – which could hurt them, recruiter says
U.S. Senator Chuck Schumer of New York: After this Month’s Visit to Troy’s Velan Studios, Schumer Calls Secretary of Commerce Raimondo Directly to Push for Federal Investment in Capital Region’s Game Development Industry; Senator Doubles Down on Commitment to Boost Troy’s Ascent as Leading Tech and Gaming Hub
REGIONAL ECONOMIC DEVELOPMENT NEWS
Vyv’s antimicrobial LEDs will be installed on cruise ships
“The antimicrobial lights made by the startup Vyv are going to be placed on cruise ships following a group of new international deals.
Under contracts with four companies — MJM Group, LightPartner Lichtsysteme GmbH & Co. KG, Middleby Corporation, and Delta Contract SpA — the lights will be installed throughout the ships in areas including galleys, lounges, food service, elevators, office spaces and more.”
Ecovative, Atlast among Capital Region leaders in startups raising capital this year
“The Capital Region may not be as busy with startups and investors as New York City, but this area has had its share of deals this year.
Despite difficulties spurred by the pandemic, several companies in the Capital Region have raised well over $100 million in venture capital this year.”
UAlbany selected as partner on $208 million NOAA Severe Weather Research Institute
“The University at Albany has been selected as a National Oceanic Atmospheric Administration Severe Weather Research Institute partner, which comes with an award of up to $208 million in research funds over the next five years.
With climate change increasingly bringing more severe weather across the globe, and the northeast region seeing a 75 percent in extreme rainfall events over the last 50 years, NOAA created a new unit to look at solutions to weather threats, said Chris Thorncroft, director of UAlbany’s Atmosphere Sciences Research Center.”
Bountiful Bread opens in downtown Schenectady
“The new Bountiful Bread bakery and cafe on lower State Street opened to the public Tuesday.
The second location of the artisanal bread maker was ready to go in late 2020 but the COVID pandemic was peaking at the time, so the owners opted to hold off rather than open in the midst of curfews and capacity limits.”
IgniteU plans startup accelerator expansion to several locations
“Plans are underway to expand the IgniteU accelerator program to several other areas.
The expansion and development is being led by Robert Manasier, who’s been entrepreneur-in-residence for the program since it was founded in 2015. IgniteU is fully funded by the New York State Technology Enterprise Corp.”
GE Research creates high-temp heat exchanger using 3D printing
“GE Research in Niskayuna has developed a new super-compact, high-temperature heat exchanger using 3D-printing technology. It is as part of a $3.1 million Department of Energy project in undertaken partnership with the University of Maryland and Oak Ridge National Laboratory.
Such devices, which can operate at 1,652 degrees, help power plant turbines and jet engines operate more efficiently. The 3D-printing process allows for more rapid development and testing of the devices. GE Research, the research lab of General Electric Co., is planning to have its final prototype completed by next year.”