The mission of Innovate 518, Capital Region NY’s Innovation Hot Spot, is to drive tech commercialization by leading the development of a supportive innovation infrastructure and connecting these entrepreneurs to the startup ecosystem.

Innovate 518 is a partnership between the University at Albany and the Center for Economic Growth. It is designated as a New York State Innovation Hot Spot by NYSTAR which enables funding and a unique set of tax incentives to qualifying startups.

Support Services

Innovate 518 support services are offered by partner incubators and can provide a variety of tools to growing ventures to help work towards specific, impactful milestones. Services may include:

– Legal Guidance

– Business Planning

Small Business Innovation Research (SBIR) Assistance

– Financial and Administrative Resources

– Commercialization Strategy

Certification & Tax Incentives

Innovation Hot Spot tax incentives are applicable to ventures in good standing with Innovate 518 incubators/organizations that have been certified for eligibility. Incubated ventures meeting the designated criteria will be issued a letter from Innovate 518 certifying their eligibility, and can then work with their accountant to file with their taxes.

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Funding Partners