the latest news about Business Incubators and Accelerators from across New York State
June 2021 NYS Incubator Report
Welcome to Summer!!! Welcome to the new normal. The feedback I am getting from our members around the State is collaboration with each other this year is now more important than ever. As we all adjust to getting back into the office, or our new hybrid models, sharing best practices on these transitions has been in high demand. Over the next few months, we will concentrate on delivering webinars and open sessions for our members to share their experiences.

The coming months are unchartered territory for all of us. We are resilient, and may not stop to think of it at times, but we have changed, we just don't know how much yet. How we work has changed, though we may be more efficient. How we incubate and mentor companies may change. The companies we incubate will have different needs now. We all will assess this individually and collectively and adjust to the new normal.

I am confident that by the time we convene in person for our Annual Meeting this December 1st, 2nd, and 3rd in New York City, we all will have a better sense of our new normal and move forward accordingly. Please be sure to SAVE THE DATE!!!

In Solidarity,

Marc Alessi
Executive Director
NYC investing $1B in life sciences

New York City Mayor Bill de Blasio has announced that the city is planning to double its $500 million investment in the LifeSci NYC commitment, to reach a total of $1 billion invested in life sciences over the next 10 years. The mayor, whose term in office expires at the end of this year, and the NYC Economic Development Corporation (NYCEDC), kicked off the investment by announcing a request for proposals (RFP) to help advance the commercial research and development of new medicines, medical devices, diagnostics, materials, and research tools. 

Senate passes bill to boost US tech industry, counter rivals

The Senate overwhelmingly approved a bill Tuesday that aims to boost U.S. semiconductor production and the development of artificial intelligence and other technology in the face of growing international competition, most notably from China.

Every year since 1982, Forbes magazine has published a list of the richest Americans. If we compare the 100 richest people in 1982 to the 100 richest in 2020, we notice some big differences.

In 1982 the most common source of wealth was inheritance. Of the 100 richest people, 60 inherited from an ancestor. There were 10 du Pont heirs alone. By 2020 the number of heirs had been cut in half, accounting for only 27 of the biggest 100 fortunes.

Why would the percentage of heirs decrease? Not because inheritance taxes increased. In fact, they decreased significantly during this period. The reason the percentage of heirs has decreased is not that fewer people are inheriting great fortunes, but that more people are making them.

How are people making these new fortunes? Roughly 3/4 by starting companies and 1/4 by investing. Of the 73 new fortunes in 2020, 56 derive from founders' or early employees' equity (52 founders, 2 early employees, and 2 wives of founders), and 17 from managing investment funds.s short and concise as people tend not to read much more than a couple of paragraphs. Place article copy here.

Chip shortage affecting auto, appliance industries
Life is slowly getting back to "normal," but effects of the pandemic still linger. Many industries have been impacted by the global chip shortage and consumer’s bank accounts are feeling it. NewsChannel 13 spoke with GlobalFoundries in Malta to learn more. "I think you've just got a look around you pretty much everything you see has a chip inside it from your phone to your refrigerator cars just about every electronic device that we all have these days,” said Peter Benyon, General Manager at GF Fab 8 in MaltaClick here to read more.


Hudson Valley Startup Fund Celebrates 5 Years
What started with 44 investors and a bit more than $1,00,000 in capital has grown to 65 investors and more than $2,000,000 across two funds, 13 companies invested in, and an immeasurable impact on the Hudson Valley’s entrepreneurial ecosystem.

Opportunities in Cannabis Production Industries: An Emerging Market for Long Island & New York

BIANYS Exec Director Marc Alessi will join IGNITE LI and other industry professionals to discuss the opportunities in this emerging industry.
The recent legalization of recreational cannabis created an in-demand market, producers can strike now to supply products/services and get into this business before everyone else!
The Future of Diagnostics

Presented in partnership with Ortho Clinical Diagnostics
June 24, 2021
12:00pm - 4:00pm

Two great events from JLABS coming up.....

June 23 | Driving Next Generation Immuno-Oncology Innovation for Cancer Treatment
Join us in this webinar as we hear from experts from across the Johnson & Johnson Family of Companies on our IO/oncology external innovation strategy and how we work with early-stage companies in a flexible co-collaboration model. RSVP

June 30 | Neuroimmunology: Potential for Novel Therapeutics for CNS Disorders
Given the advances in this field, Johnson & Johnson Innovation, in collaboration with Janssen Neuroscience, is seeking to gather industry-leading entrepreneurs, biotechs and academic researchers for a discussion on harnessing the next wave of science and innovation in neuroimmunology. RSVP
CNYBAC Concept to Commercialization (C-2-C) Virtual Series
Special Purpose Acquisition Company (SPAC) Process

June 30, 2021, 3:00 – 4:00 p.m. EST
Richard Uhlig, Founder/CEO and Ralph Romano, Finance Associate, Quadrant Biosciences
Special Purpose Acquisitions Companies are “shell” companies that are established, usually by a team of investors, to raise money via an IPO with the intent to acquire another company with the sole assets of the company being the money they raise. Rich Uhlig and Ralph Romano of Quadrant Biosciences will discuss the benefits gained by utilizing the SPAC process, such as the ability for a company to go public and gain capital quickly.

FuzeHub's Digital Marketing Summer Series is a set of hands-on workshops to bring your digital marketing skills to the next level. Building on the success of their first workshop, we will be diving deeper into certain topics that were identified by attendees as must-have skills for today's digital marketer.

Thursday, July 1 (11 a.m. EDT) 
This free, one hour info session will feature Kirk Macolini who will share insights on the SBIR and STTR application process. We will also highlight the new SBIR Assistance Program which can help upstate New York based companies pay for an SBIR grant writing consultant with 1:1 matching funds. 

German MedTech Insights: Deep Dive on Digital Health Applications & Medical Device Regulation
GACC Midwest and its partners Life Science NordMedical Valley EMNNRW.Medizin and NRW Global Business invite you to join two public sessions on the topic of MedTech in Germany on Thursday, June 24, 2021.
Attend our two complimentary sessions to:
  • Learn about the Digital Healthcare Act and hear German case studies
  • Gain insights on MDR and how to enter Europe as an international company
  • Explore opportunities for transatlantic collaboration

IndieBio NY -

June 22nd 12PM to 2PM EDT 

featuring our very latest companies pitching their world-changing solutions for the future of human and planetary health!

 Jane Walker • IFW First Women Grant Program
Jane Walker by Johnnie Walker, a whisky that celebrates the achievements of women and all those pushing boundaries towards gender equality, wants to see more firsts for women.

Originally launching the program with 15 grants, Jane Walker will now be matching the program and funding an additional 15 groundbreaking women-owned businesses through the end of the year.

The Stacy’s Rise Project I
is offering $10,000 grants to 10 entrepreneurs. Applicants must have between $25,000 and $1M in annualized sales, participate in the virtual Mentorship Program and should not be part of an accelerator program at the time of entry. Applications are open through July 9.

WomensNet Amber Grant

WomensNet gives away at least $10,000 every month in Amber Grant money. They’ve now added an Annual $25,000 Amber Grant as well as marketing and $2000 mini grants. See the full list here.

Job Opportunities in Incubation and Eco Dev
RIT Venture Creations Incubator is looking to hire for two positions, click on the links below to learn more about these exciting positions:

SBA Hiring in New York
Outreach and Marketing Specialist, GS-1101-12 (FPL GS-12). Office of Field Operations, New York Regional. The incumbent may be duty stationed at the Upstate District Office located in Syracuse, New York or in Albany, New York. The posting is open to the Public. The Outreach and Marketing Specialist will perform a broad range of duties to promote, develop, and maintain interest, understanding, and support of Small Business Administration (SBA) programs and services. In addition, the candidate will serve as District Public Information Officer, leveraging media opportunities and enhancing relationships with the press. This is a full time, permanent position. See the link for a complete list of duties, requirements and salary.

WNY Impact Fund leads round for Garwood Medical Device $4M in Series C Funding-

Garwood Medical Device, LLC, a Buffalo NY-based company which specializes in developing technology to treat antibiotic-resistant bacterial biofilm infections associated with metallic orthopaedic implants, raised $4M in Series C funding.
The round was led by the WNY Impact Investment Fund and the Murray family, along with global investors in the orthopaedics/health care space.

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