APRIL 2022 - NYS Incubator Report |
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"NY must protect its internet-dependent jobs"
~Marc Alessi
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The following was recently published in the Long Island Business News:
Many challenges of the last few years—most pandemic-related—appear to be receding, but new issues are taking their place. High gas prices, ongoing supply chain disruptions, and inflation are replacing mask mandates and vaccination status as top concerns for New York small businesses.
Companies pushed to the brink during the pandemic are not seeing any relief; their problems have simply shifted. Policymakers must keep this in mind and do what they can to mitigate these stressors. In his State of the Union address, President Biden acknowledged the vast contributions small businesses make to the economy, noting the historically high level of new business applications, and he pledged to do more to help these businesses grow and create jobs.
Yet, on the same day in the same city, Congress considered legislation that will ultimately hurt the ability of small businesses to grow. At a committee hearing, lawmakers introduced the Banning Surveillance Advertising Act of 2022. As introduced, this bill will make online advertising harder to use and more expensive for small businesses. Given the extent to which the internet is vital to conducting business, it’s surprisingly short-sighted that Congress didn’t think to include any small business owners to testify at the hearing.
Listening to the perspectives of small businesses, particularly about how they use the internet to build and maintain their companies, is important because small businesses are the backbone of our economy. 38% of U.S. internet jobs are created by small firms and self-employed individuals—a larger proportion than large or medium-sized firms, which clock in at 34% and 28% respectively. When we talk to small businesses about how they use the internet, their needs are extensive and go beyond sending emails. They use internet-enabled tools to advertise, create websites, enable payment systems and connect with customers on social media.
As executive director of the Business Incubator Association of New York State, we represent over 100 business incubators and accelerators that house and mentor over 3,000 startup companies–many of whom depend on targeted digital marketing to grow their businesses. The pandemic slowed down the growth and launch of many startups, and small businesses pivoted to digital advertising to survive. The start-ups who were able to succeed did so because the internet enabled them to grow, and digital online advertising via both the web and social media was a critical element.
We can see the economic impact here in New York State. Internet-related jobs contributed $152.4 billion to this state’s GDP in 2020. Although many of New York’s internet-related jobs are located in New York City, they certainly aren’t confined to the city—the impact stretches throughout New York State. Every congressional district in the state has internet-dependent jobs, and 15 of them have at least 10,000. In three of them, internet jobs employ at least 6% of the population of the district.
So, when Congressional leaders are considering legislation that will inhibit job growth, we are talking about real numbers that could have a negative impact on New York’s economy. This is why I’ve decided to join a new small business coalition called Internet for Growth, to help educate policymakers on how businesses of every size rely on the internet. As Congress considers legislation on how best to protect consumer privacy, it’s important that lawmakers understand how these decisions will impact small businesses, startups and business incubators and accelerators.
Businesses that have survived the pandemic and are currently battling inflation, supply chain problems, and high gas prices don’t need the additional burden of regulatory changes that make it harder for them to do business.
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CEBIP's ThermoLift Capitalizes on Key Relationships |
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ThermoLift's Paul Schwartz (R), energy icon Bob Catell (C), and SBU's Yacov Shamash (L) |
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According to co-founder Paul Schwartz, building a network is critical to any business’ success – "Consider ThermoLift, which wouldn’t be where it is today without this foundation of entrepreneurism.
Network-building is about trust and mutual respect, and it’s not an easy process. ThermoLift’s launch, and the company’s important introduction to the Long Island angel-investor community, was heavily influenced by key introductions."
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CEBIP's NORDIC SPARK formed with Nordic Inno House
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Stony Brook's Nordic Foray is off to a Fast Start |
Nordic Spark, a virtual business accelerator for foreign clean-energy startups looking to enter U.S. markets, launched last summer with ambitious eyes set on Denmark, Norway, Sweden, Finland and Iceland. The accelerator offers a six-month crash course in U.S. energy marketplaces, helping incoming businesses – particularly startups – find their place in the American clean-gen ecosystem.
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REV Members Continue to Grow |
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2021 was another great year to be an Ithaca-based entrepreneur! Despite challenges including COVID-19 closures, staffing shortages, and supply chain delays, startup founders were quick to adjust their business models.
We're excited to share that Rev member companies flourished in 2021, creating 151 new jobs, generating $25.8 million in revenue, and raising $40.4 million in capital—impressive economic feats in a year of uncertainty.
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Feds Grant BioBAT $1.1 Million for Development of
Covid-Related Products
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Active Work Space at BioBAT Facility |
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The US Department of Commerce's Economic Development Agency is awarding a $1.1 million CARES Act Recovery grant to BioBAT, a research and manufacturing facility based at the Brooklyn Navy Terminal. |
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Buffalo-Based ACV Auctions:
Now More than 2,000 Employees
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It took ACV Auctions nearly six years to reach 1,000 employees. Now the automotive software company doubled that in just over two years.
ACV Auctions (NASDAQ: ACVA) announced that it has hired its 2,000th employee as it fills out its national footprint. The company hosts dealer-to-dealer automotive auctions and supports them in regions across the U.S. with on-the-ground sales and inspection personnel.
ACV has been on an acquisition streak since it went public in March 2021 on the NASDAQ stock exchange. In the past few months alone, it announced the acquisitions of Drivably and Monk SAS. The company also used the headcount announcement to introduce its new chief legal officer, Leanne Fitzgerald.
Led by CEO George Chamoun, ACV Auctions became the region’s first software unicorn when its private-market valuation zoomed past $1 billion. The company is headquartered in the Innovation Center on the Buffalo Niagara Medical Campus.
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UB-led team receives $10 million advanced cyber-infrastructure research grant
The National Science Foundation-funded project includes Roswell Park and other partners; and will help ensure U.S. leadership in science and engineering, and help drive innovation in the U.S. economy.
UB will lead the project to develop software that academia, industry and government agencies use to manage high-performance computing infrastructure.The award will promote U.S. leadership in science and engineering, increase competitiveness, and strengthen national security.
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$1.4 million from NIH for UB and
University of Zimbabwe HIV research training partnership
The UB-UZ partnership will train future UZ HIV researchers and the NIH grant ensures the program will continue through 2027.
The initiative, the UB-UZ HIV Pharmacology and Therapeutics Research Training Program, supports graduate students and postdoctoral fellows completing HIV research at the University of Zimbabwe Center of Excellence in Clinical Pharmacology and Pharmaceutical Sciences, a lab focused on drug development and clinical pharmacology training.
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Koffman Incubator Hosting Another Cannabis Info Series |
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Program Launches May 3 and Runs for Four Consecutive Tuesdays from 5:30 to 7:30 pm |
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The Koffman Southern Tier Incubator chose 4/20 to announce that it is bringing back its popular Opportunity Grows Cannabis Accelerator Program.
The 4-week virtual series will provide information to entrepreneurs interested in entering the recreational marijuana industry.
The focus is on helping the would-be startups develop a viable business plan.
A similar series last year attracted over 300 participants.
Much has changed since last year as the state has begun to roll out rules related to marijuana sales and cultivation.
Director of Business Incubation Programming Eric Krohn says the sessions will help entrepreneurs maintain flexibility as the landscape evolves.
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Entrepreneurial Perseverance
How this Troy game studio tripled in size as its owner was hospitalized with cancer
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When Mitchell Patterson felt tired and had trouble breathing during the second half of 2020, he assumed he’d caught Covid. He went to the ER and was informed that the level of his hemoglobin – the protein in red blood cells that carries oxygen to organs – was dangerously low.
Patterson, founder of Troy video game studio Wolfjaw Studios, was diagnosed with Leukemia and started chemo 48 hours later. He spent 38 days at Albany Med and was then transferred to the Memorial Sloan Kettering Cancer Center for another 31 days.
He went through three rounds of chemo, two rounds of radiation and a stem cell transplant. For video meetings during his time in the hospital, he'd apply a virtual background and wear a hat so prospects didn't realize his hair had fallen out.
With Patterson away for so long, that could have meant the end of his nearly two-year-old studio. But instead, he says his employees stepped up and kept the company moving.
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EVENTS & FUNDING OPPORTUNITIES |
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Additive Manufacturing’s Role in Medical Device Supply Chain
May 4, 2022,
3:00 – 4:00 p.m. EST
Michael Mowins, President/Principal, Vetted Tech, Inc.
Speaker will discuss medical device development to include
3-D printed prototyping; additive manufacturing for short run production; volume production with additive manufacturing and custom kitting production.
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Startup Funding:
Early Stage Funding Vehicles
June 15, 2022
3:00 – 4:00 p.m. EST
Richard E. Honen, Venture Capital & Technology Practice Team Lead, Phillips Lytle, LLP
Mr. Honen will discuss the uses of different early stage funding vehicles and will go over the most important terms of venture capital term sheets and investments.
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Kingston Syracuse Pathway
Cross-Border Life Science Pitch Event
June 7, 2022
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APPLY Before May 20, 2022 |
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Kingston Syracuse Pathway Pitch Event, June 7, 2022
Startups in the life and health sciences space - apply to make a pitch for the top $5,000 prize at the Kingston Syracuse Pathway cross-border life science conference to be held June 7 at the Kingston Holiday Inn, Kingston, Ontario.
Don’t miss your chance to get your ideas in front of business leaders, researchers, physicians and accelerators from both the US and Canada. You must pitch in-person. Spaces are limited. To apply, complete the qualifying questions before May 20th, 2022.
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To apply, complete the qualifying questions below: |
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Return applications to
Ben McIlquham:
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JLABS INNOVATION
Programming
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MAY 17
What to Expect: Career Opportunities with Early-Stage Life Science
In addition to hearing about early-stage career trajectories from life science industry executives, select BLUE KNIGHT™ companies will also present their companies and current job openings.
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JUNE 1
Future of Health: Leading Digital Transformation in Healthcare Focused
In this session, we will speak on the risks, benefits, and challenges ahead on leading the ESG (Environmental, Social, and Governance) global transformation within health industries worldwide.
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Applications & Opportunities |
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Due May 13
Improving Detection of Neurotoxicity in Immunotherapies
To inspire early identification of neurotoxicity, Johnson & Johnson Innovation, together with Janssen Global Services, is proud to launch the Improving Detection of Neurotoxicity in Immunotherapies QuickFire Challenge. Visionaries are invited to submit methods and technologies aiming to optimize patient care for immunotherapies within the hematologic malignancy space by enabling early detection of neurotoxic events.
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Due June 3
Maternal-fetal Immune Disorders QuickFire Challenge: Innovating for Health Equity
J&J Innovation and Office of the CMO Health of Women team, together with Janssen R&D, are proud to launch the Maternal-fetal Immune Disorders QuickFire Challenge: Innovating for Health Equity. US-based innovators are invited to submit data-driven research methodologies, tools, or technologies that aim to better understand immune-mediated diseases of pregnancy impacting marginalized communities.
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New York Cannabis Project Now Accepting Applications |
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New York Cannabis Project is a social equity incubator program launched by e-commerce marketplace and home delivery platform, Lantern. New York Cannabis Project is currently accepting the first round of applications for its incubator program, which gives aspiring entrepreneurs access to educational programming, technical services, mentorship and operational consulting as well as access to a resource database for real estate and investor/vendor connections. Applicants will be New Yorkers hardest hit by the war on drugs.
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World Trade Week NYC 2022
Join World Trade Week NYC This May
The New York District Export Council invites you to join World Trade Week NYC 2022. World Trade Week NYC is an active network of more than 70 organizations in the New York metro region working together to underscore the importance of international trade, logistics, and port operations to the region's economy and to use their collective expertise to help the region's businesses grow through international trade.
Watch the WTW NYC 2022 website for more information about upcoming webinars scheduled for May and June 2022.
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