Week in Review: April 27 – May 1, 2020
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CEG IN THE NEWS
REGIONAL ECONOMIC DEVELOPMENT NEWS
“Spark Saratoga, a business incubator backed by Saratoga Economic Development Corp., has partnered with the free online platform Ureeka to connect startups and young businesses with experienced professionals and other resources.
Ureeka assigns members to mentors throughout the country and provides access to information on how to apply for capital. It also hosts a monthly pitch competition.”
“The shortage of critical personal protective equipment (PPE) has been a persistent problem for medical and other front-line workers as they battle the COVID-19 pandemic at close range day after day.
A team of researchers at Rensselaer Polytechnic Institute has developed a potential solution: a machine that uses ultraviolet (UVC) light to sterilize thousands of protective masks each day, rendering them safe for reuse.”
“The Capital District Transportation Authority has never relied heavily on fares, but now that it’s stopped collecting them completely, the organization is facing tough questions about how long it can keep its budget in balance.
“Eventually, the loss of revenue will catch up to us,” said Carm Basile, chief executive of CDTA.”
“Regeneron Pharmaceuticals is scaling back the testing of an antibody that has provided some relief to patients suffering most critically from COVID-19, the company announced Monday, after preliminary findings indicated the medication did not benefit those with less severe cases of the virus.
The clinical trial of Kevzara, an injectable medication known as an IL-6 receptor blocker that is currently used to treat moderate to severe cases of rheumatoid arthritis, will be scaled back to include only those with the most critical cases of COVID-19, such as patients who are on ventilators, Regeneron said.”
“The Berkshire Taconic Community Action Foundation has created an emergency response funs for Columbia County’s small businesses and nonprofit organizations affected by COVID-19.
In partnership with the Columbia County Economic Development Corporation and the Columbia County Chamber of Commerce, cash grants will be made available to businesses operating in affected communities.”
“Local manfacturer PVA has been awarded a $100,000 grant from FuzeHub, the Albany nonprofit that aids New York state manufacturers with grants and consulting services. The grant was part of a $300,000 COVID-19 device manufacturing grant program to support the making of ventilators and N95 masks.
PVA recently was granted approval from the Food and Drug Administration to make emergency ventilators. Spiro Devices in Brooklyn was also awarded $100,000 to make its own line of ventilators as well. Environmental Composites in Utica and General Composites in Willsboro each won $50,000 to make masks.”
“The Greene County Economic Development Corporation has launched a survey to learn from businesses what reopening the economy would be like for them.
Greene County Chamber of Commerce President Jeff Friedman encouraged businesses to be prepared.”