News Articles

New program cultivates WNY startups with funding, mentors

Fri, 10 Feb 2023 18:20:15 +0000

WIN partners to train displaced workers for entrepreneurial success

Fri, 04 Mar 2022 14:25:55 +0000

UB, partners open new business incubator on medical campus

Tue, 23 Mar 2021 16:57:54 +0000

Money for Startups in the Wake of COVID

Thu, 02 Apr 2020 15:18:45 +0000

The following is a summary of how the CARES (Coronavirus Aid, Relief, and Economic Security) Act - AKA the $2.2 trillion economic stimulus - applies to scalable, early-stage companies. We'll continue to update here as appropriate (most recent update 4/2/2020 at 11:00 am).

Paycheck Protection Program (Generally assumed to be the bigger opportunity)
1. Broadly in place to provide 8 weeks of payroll as a forgivable loan, assuming you are retaining your staff, or have already made cuts and want to work toward restoring positions
2. Loans calculated at 2.5x your monthly payroll expense, up to a maximum of $10M
3. You apply for this program through your bank (not the SBA directly) using this application as soon as April 3, 2020.
4. In theory the SBA is supposed to have a process in place by the end of this week to make same day disbursements
5. Good FAQ: https://tinyurl.com/wv86b8u
6. Good overview (with data): https://eig.org/news/understanding-the-paycheck-protection-program
7. More background: https://www.inc.com/brit-morse/sba-loans-coronavirus-stimulus-package-cares-act.html
SBA Economic Injury Disaster Loans (EIDL) & $10,000 Forgivable Advance
1. Separate from the Paycheck Protection Program
2. You can apply to both programs; if you ultimately end up in both, your EIDL would be subtracted from your total PPP benefit eligibility
3. Available to companies in disaster areas (all of NYS) experiencing a temporary loss of revenue
4. Loans are capped at $2M, and you can request an advance in the first $10k, which appears to be deployable within three days and forgivable
5. Apply directly through the SBA (thanks to Marilyn Roach at the Buff State SBDC for your expertise here):
  1. The application cannot save so applicants should be prepared with the following:
    - Form of business, date formed and EIN
    - 12 month revenue and cost of goods for the 12 months preceding 1/31/2020 – you can use your 2019 year end numbers
    - Bank account and routing number
    - Please make sure to check the last box for the $10k loan advance and certify that the information is true
    - Record your application confirmation number
  2. The advance will be direct deposited in the bank account provided and applicant should be contacted via email or by phone regarding eligibility for the EIDL loan (beyond the $10k advance) in 3 – 4 weeks. All prior documents that have been completed may be used by SBA at a later date.
If you have existing SBA Loans
1. I am writing this with the assumption most of the companies I support do not currently have SBA loans.
2. There are now provisions in place to enhance those existing loans, make their terms more favorable, etc.
3. Contact your banker for more info.
This is a good, broad FAQ doc covering all of the above.
Are VC-backed startups eligible?
1. Currently it appears VC backing will not be an issue as long as the VC does not own more than 50% of the company. It appears this standard MAY be loosened further in the coming days and weeks.
Standard advice about working with the SBA you’ll hear in any briefing:
1. “If you’re on the fence, apply so that you can get everything moving (you can always decide to decline the money down the road)”
2. “The single biggest cause of delays is incomplete information on applications”
3. Use your SBDC as a resource

Beyond the Stimulus:

If you need help with anything you can book time with Tom here.
If you want to be a vendor to NYS as a part of the COVID response, info is here.
If you have a partial solution to the COVID situation, and still need help moving forward, The Business Incubator Association of NYS is a great resource here.

Niagara Falls Business Incubator Looks to Cash In on Tourism Technology

Fri, 15 Nov 2019 18:42:50 +0000

A recently renovated building, part of five former storefronts on Niagara Street, was once home to the first supermarket in Niagara Falls. More than a hundred years later, they could breed businesses of another kind.

The fixer-uppers are now home to TReC, a business incubator run by the Niagara Global Tourism Institute. Director Patrick Whalen says the goal is to help people take their business ideas and make them a reality, especially in tourism technology—a field he says is a natural for a city that hosts millions of tourists every year.

"Maybe we can brand the place as the tourism technology capital of the world," Whalen said. "We provide resources for them to help them get that idea out of their head and on a piece of paper so they can launch a business.

So, what exactly is tourism technology? Whalen says think of companies like Airbnb, Uber, and Yelp.

Entrepreneurs who join TReC pay a $100 monthly fee. They can have access to meeting spaces, offices, and internet. Perhaps more importantly, they can connect with advisors and other people who might help them get their businesses off the ground.

Nicholas Hurd started Niagara Falls Adventure Tours last year. It's a one-hour walking tour of the sites around Niagara Falls. Now, he's looking to grow his business from his apartment to something bigger, so he became a member of TReC.

"It's opened up a huge opportunity for us. Just having resources," Hurd said. "I've been here three days and already I have resources. I've been able to have a conversation with a gentleman from the state park that's opened up a door for me."

Sarah Battaglia owns Olive Ridley, a local company that supplies recycled paint. While her business is outside the tourism-technology realm, she joined TRec too.

"Here I am an entrepreneur in Niagara Falls in my own little world and now there's going to be a community for me to tap into either a resource or to benefit from the resources," Battaglia said.

Whalen says in their first week, they already have 12 businesses on board. Eventually, as more members join, the incubator will be funded through the membership fees.

UB unveils design concepts for new Innovation Hub business incubator on BNMC

Fri, 15 Nov 2019 18:37:03 +0000

BUFFALO, N.Y. – Today, during an “innovation happens here” event with various invited guests and community members, New York State and the University at Buffalo officially unveiled design plans for a new incubator facility on the Buffalo Niagara Medical Campus, located within a renovated portion of the Center of Excellence in Bioinformatics and Life Sciences. This facility is a key component of the Innovation Hub initiative focused on moving more technologies from the Hub partners’ labs, classrooms, and clinics to the market through startup formation and growth.

“The new University at Buffalo Innovation Hub is building on Western New York’s reputation as a globally recognized entrepreneurial center for dynamic life sciences and technology companies,” remarked Empire State Development Acting Commissioner and President & CEO-designate Eric Gertler. “In bringing together a diverse group of innovators, the Hub supports collaboration that will help ensure the region’s continued economic growth.”

“We’re excited to share these designs with our partners and look forward to their feedback, as we refine the plans and advance through construction toward a summer 2020 opening,” said UB Associate Vice President for Economic Development Christina Orsi. “This new incubator space is a great addition to the hub’s many offerings to support technology startups.”

Designated as a START-UP NY-eligible location, the new incubation and entrepreneur support space will be made available to startups affiliated with UB and Hub partner organizations, including Roswell Park Comprehensive Cancer Center, The Jacobs Institute, Hauptman-Woodward Medical Research Institute and Kaleida Health. The university plans to utilize various portions of the new facility for entrepreneur support programs, events, education, and other related services.

More specifically, the incubator is intended to offer startups a physical location to interact with like-minded entrepreneurs in a setting that can meet their growth and development needs. Incubator features include affordable and highly flexible workspace, such as individual desks, company offices, and labs, as well as opportunities for direct linkages to fellow professionals, talent, and expertise. The new facility will also offer equipment and technology sharing, and an array of entrepreneur services, support programs, and networking initiatives. The overarching focus of these various offerings is to better connect ideas to action.

All guests attending the unveiling were provided with a sneak peek of the design plans, which have evolved with focus groups throughout the last several months. Building tours were also provided, along with information on incubator co-working membership packages, office and lab space usage fees, and details on access to core services (Genomics & Bioinformatics, Proteomics & Bioanalysis, Computational and Biobanking). To inquire about UB incubator space or services, please visit: http://buffalo.edu/incubators.

The UB community and its strategic research partners collectively bring more than $412 million in annual research activity, 30,000 students, and more than 3,000-plus faculty and researchers, many of whom are focused on making new discoveries and advances in medical device technology, diagnostics, health care delivery, software applications, materials, imaging, sustainability and other diverse innovative developments.

Niagara Global Tourism Institute’s TReC Becomes 11th WIN Member

Tue, 23 Jul 2019 18:13:54 +0000

Niagara University’s Niagara Global Tourism Institute announced the affiliation of its emerging TReC Incubator with the Western New York Incubator Network.

TReC is the 11th member of the WNY Incubator Network (WIN). The incubator network members support almost 200 startups that have created hundreds of jobs and attracted more than $20M in outside investment.

WIN is a collaborative effort of incubators and entrepreneurial service providers from Allegany, Cattaraugus, Chautauqua, Erie, and Niagara counties working together to turn the region into a hotbed of entrepreneurial activity. The group shares best practices, networking, mentoring, educational, and financial resources to better assist incubator client companies.

“We couldn’t be more pleased to be part of the Western New York Incubator Network. Our affiliation with the incubator network opens up Niagara County and its entrepreneurs to a host of resources not previously available to our area,” said Patrick Whalen, the Director of the NGTI. “This is especially important for the city of Niagara Falls as the unprecedented overhaul of its downtown is setting the stage for a local economic renaissance.”

WIN is funded through the NYSTAR Innovation Hot Spot program, which offers a unique set of opportunities for companies in their earliest stages. As a member of the incubator network, TReC can assist fledgling companies in benefitting from WIN’s support system, which includes formal connections to the University at Buffalo, tax incentives for incubator companies; professional services deals & discounts; SBIR / STTR assistance; and pitch prep services.

TReC, located at 616 Niagara Street, in Niagara Falls, is a coworking incubation space with a mission to help would-be entrepreneurs formulate ideas and launch businesses. Operated by the Niagara Global Tourism Institute, TReC anchors a transformational live-work-play redevelopment of historic buildings in Niagara Falls, NY.

TReC’s tourism-technology focus is a unique asset in WNY designed to magnify the region’s existing momentum in the entrepreneurial and tourism fields. TReC works directly with entrepreneurs starting a new company from conceptualization to their eventual establishment in the community. In addition to WIN’s benefits, TReC provides startup companies with full suite of services through its business incubator including business plan development and implementation, mentoring, and guidance with legal and financial matters.

“As economic development practices have changed to focus on nurturing small businesses from their earliest stages, we felt that it was imperative for Niagara County to have a place where entrepreneurs can get the best help possible in taking their ideas for a new company from the drawing board to the real world. Becoming part of WIN helps us do just that”, Whalen said.

“TReC is a natural fit with WIN as we seek to support companies that will grow and thrive in Western New York,” said Tom Murdock, GM for the WNY Incubator Network. “The natural asset of the Falls combined with the business smarts of NGTI represent an exciting opportunity to build forward-looking companies and jobs in Niagara Falls and beyond.”

With plans to open its doors in September of 2019, TReC has already been selected by the International Business Innovation Association (InBIA) to host its 2019 eBuilders Forum on October 3-4, 2019. The conference is expected to bring 150 business incubation professionals from around the world to Niagara Falls.

About Niagara Global Tourism Institute

As part of Niagara University, the NGTI is an initiative focusing on collaborative partnerships between the public and private sector to enhance the regional tourism product and global competitiveness.

About Western New York Incubator Network

Managed by the University at Buffalo, WIN connects startups to UB’s vast resources, including student talent, faculty expertise, entrepreneurial support programs, and world class facilities. WIN is funded through the NYSTAR Innovation Hot Spot program and chartered by the WNY Regional Economic Development Council (WNY REDC). Our incubators serve the western region of New York State, including Allegany, Cattaraugus, Chautauqua, Erie, and Niagara Counties.

About Niagara University

Founded by the Vincentian community in 1856, Niagara University is a comprehensive institution, blending the best of a liberal arts and professional education, grounded in our values-based Catholic tradition. Its colleges of Arts and Sciences, Business Administration, Education, and Hospitality and Tourism Management offer programs at the baccalaureate, master’s and doctoral level.

As the first Vincentian university established in the United States, Niagara prepares students for personal and professional success while emphasizing service to the community in honor of St. Vincent de Paul. Niagara’s institutional commitment to service learning has led to its inclusion on the President’s Honor Roll for Community Service every year since its inception in 2006, and its recognition with the Carnegie Foundation’s Classification for Community Engagement.

Techstars Joins Effort to Grow Entrepreneurial Ecosystem in Buffalo

Tue, 25 Jun 2019 18:03:48 +0000

Techstars, the worldwide network that helps entrepreneurs succeed, and 43North, the startup competition that invests $5 million annually to attract and cultivate startups in Buffalo, NY, are partnering on a multi-year program to further develop and scale the Western New York entrepreneurial ecosystem. Together, Techstars and 43North will build a self-sustaining coalition of entrepreneurs, corporate partners, local and national investors, government and academic leaders, and startup enthusiasts within the community.

In addition, Techstars announces the formal launch of the Techstars Startup Ecosystem Development program. The Techstars Startup Ecosystem Development program offers economic and government leaders at the state and city level research, program management staff, and services to support the rapid injection of key ingredients into city infrastructure and leadership—all with the goal of driving economic development and job growth. Techstars is launching with Buffalo as the inaugural city for the Techstars Startup Ecosystem Development Program.

“Techstars sought a community that had a blend of passion, population size, and the organizational commitment to take their ecosystem and supersize it,” said Chris Heivly, vice president of Innovation at Techstars. “Buffalo already has a burgeoning ecosystem with strong players such as 43North, Launch NY, and SUNY Buffalo. While Techstars is partnering with 43North on this initiative, the Techstars Startup Ecosystem Development program is a community-wide effort, and Techstars will focus on increasing the existing collaboration in the community.”

Techstars began its work on this initiative in the fall by researching the current state of the Buffalo entrepreneurial ecosystem through a series of interviews and surveys. Techstars officials then used this information and Techstars data on building ecosystems in other communities to create a roadmap for the future growth of Western New York’s startup community.

“I have long believed that in the modern era, you can start a scalable, high-growth company almost anywhere, and every metropolitan area with over 100,000 people should have a thriving startup community.” Brad Feld, co-founder of Techstars and partner at Foundry Group.

Techstars Startup Ecosystem Development program for Buffalo includes providing mentorship to 43North companies and other Buffalo startups; coaching and facilitating interactions with Western New York mentors, community leaders, investors, and potential investors; producing year-round events and programming; forging connections with Techstars global network; producing and posting digital content about the Buffalo ecosystem; and conducting ongoing measurement of the progress of Buffalo’s startup community.

Techstars is currently seeking a Buffalo-based Executive Director who will work with Techstars executives, a small Buffalo staff, and the 43North team to execute the plan.

“Whether you’re looking at the number of startups, the volume of venture capital, or the engagement of our community’s leaders, Buffalo’s startup ecosystem is the strongest that it has ever been. While we are encouraged by our recent growth and success, we have an opportunity to double down on our efforts to build our entrepreneurial community into one that generates jobs and prosperity for generations to come,” said Eric Reich, 43North board chair. “Techstars is one of the world’s most respected organizations for supporting startups and building startup communities, making them the ideal partner to help Buffalo and 43North take the next steps on our journey. We are excited to welcome them to Buffalo and to work collaboratively across the ecosystem to deliver the results that this great community deserves.”

“Buffalo’s startup ecosystem has made significant progress, and the partnership between Techstars and 43North is a strategic commitment to support its continued growth and regional economic impact,” said Empire State Development President, CEO & Commissioner Howard Zemsky.

The Techstars Startup Ecosystem Development program in Buffalo is a partnership with 43North, with support from M&T Bank, National Grid, and others to be announced.

To learn more about the Techstars Startup Ecosystem Development program, join Techstars and 43North for an AMA on Ecosystem Development on February 28, 2019, at 3 pm EST. The AMA will be recorded.

UB tapped in Buffalo Billion II to establish Innovation Hub

Tue, 15 Jan 2019 21:56:35 +0000

UB will facilitate a $32 million investment from New York State to launch an Innovation Hub in its New York State Center of Excellence in Bioinformatics and Life Sciences that will accelerate the growth of Western New York startups.

The Innovation Hub, part of the state's second Buffalo Billion investment, will support commercialization of technologies generated by UB, Hauptman-Woodward Medical Research Institute, Roswell Park Comprehensive Cancer Center, Kaleida Health and the Jacobs Institute, ultimately growing private investment and jobs in Western New York.

Full detail are available on UBNOW >>>

UB, NYSTAR pair to extend WIN through 2021

Tue, 04 Apr 2017 15:48:00 +0000

The WNY Incubator Network (WIN), a collaborative effort of business incubators managed by the University at Buffalo, has received a five-year extension from Empire State Development’s Division of Science, Technology and Innovation (NYSTAR) and will continue its operations through 2021. Read the full details on UB's website >>>

Applications for 76West Competition Due Monday, March 13

Fri, 10 Mar 2017 19:38:38 +0000

76West is an unparalleled clean energy competition focused squarely on growing entrepreneurs and jobs in New York’s Southern Tier region. Run by our friends at NYSERDA, the competition offers $20 million in prize money and support services, including a $1 million top prize.

The deadline to participate for 2017 is this Monday, March 13, and the application is available here.

2016 was the competition’s first year and saw $2.5M invested in six clean tech ventures. Micatu, an IncubatorWorks graduate, was the grand prize winner and brought in $1M to help advance its optical measurement technology for smart grids.

The investment is proving to be transformational to Micatu as it continues to invest in R&D and add 79 jobs right here in New York.

76West is designed to further develop the regional community of clean energy technology innovators, industry experts, educators, and investors, as well as help startups get early users for their technologies.

What Happens at Startup Weekend Doesn't Stay at Startup Weekend

Wed, 12 Oct 2016 17:34:33 +0000

Every day I get to meet with big thinkers who want to start their own business. They want to know how to meet the right people, validate their ideas, and get moving with their business.

Usually we sit down for an hour to talk through a variety of opportunities, but this time of year is exciting because I can send them one place- Buffalo Startup Weekend. More than just a weekend, BSW produces ideas and relationships that serve our city all throughout the year.

How's it work?

We’ll kick off on Friday night, October 21, at 6:30 PM at Dig. Our volunteers will be ready to get you signed in and meeting 100-150 new people. We don’t want you to have an empty stomach, so dinner will be waiting for you—Fat Bob’s gets the nod on Friday night.

On Friday, our “Pitchfire” gives anyone with an idea 60 seconds to share their idea. No presentations are needed Friday night - it's just you and the mic.

Generally, we see about 40 people pitch. If you don’t have an idea right now, you can watch the pitches and look for a team to join. Generally, the ~40 pitches yield about a dozen teams.

Once the teams have formed, you’ll have the rest of the night to get to know your team and plan out your weekend. You’ll compare skillsets, find a corner to work from, and get to it. Feel free to stay as late as you want.

We’ll pick back up at 9:00 on Saturday, October 22, and breakfast will be waiting for you.

Saturday is your team’s opportunity to work all day. You’ll move your idea forward through market research, building out a prototype, figuring out a business plan, and tackling the creative aspects of starting a business.

After lunch, coaches will join us to help your team. We’ll hold a check in with each team and answer any calls you have for help. By Saturday night, your team will have made major strides forward and start looking more like a business. Dinner comes at 6:30, and you’re again welcome to stay as late as you’d like.

Like Saturday, breakfast will be waiting for you when you ramp up at 9:00 AM on Sunday, October 23. Sunday is all about getting ready for your final pitch. You’ll have a final opportunity to ask questions, enjoy lunch, focus on perfecting your presentation, and do a tech-check.

Final presentations begin at 2:00 and will show 10-12 teams that have taken enormous steps forward in just 54 hours. While everyone deserves recognition, our judges will select winners with prizes including Sabres tickets, Venture Association memberships, business books, and scholarships into StartUp CEL.

Startup Weekend is a whirlwind! You’ll learn, meet people, and push yourself. When else do you get to spend three days with 100+ of the biggest thinkers in WNY?

Registration is available here (use discount code WIN for a $10 ticket).

Olean Business Development becomes 10th member of Western New York Incubator Network

Fri, 26 Aug 2016 15:12:13 +0000

Olean Business Development (OBD) is now part of a regional effort dedicated to helping entrepreneurs establish new companies across all industries and disciplines.

Officials at OBD recently signed an agreement to become the 10th member of the Western New York Incubator Network (WIN).

The incubator network is a collaborative effort of incubators and entrepreneurial service providers from Allegany, Cattaraugus, Chautauqua, Erie, and Niagara counties working together to turn the region into a hotbed of entrepreneurial activity. The group shares best practices, networking, mentoring, educational, and financial resources to better assist incubator client companies.

“We couldn’t be more pleased to be part of Western New York Incubator Network. Our affiliation with the incubator network opens up Cattaraugus County and its entrepreneurs to a host of resources not previously available to our area,” said Larry Sorokes, OBD’s president. “This is especially important for the city of Olean as the unprecedented overhaul of its downtown is setting the stage for a local economic renaissance.”

WIN is funded through the NYSTAR Innovation Hot Spot program, which offers a unique set of tax incentives and funding opportunities for companies in their earliest stages. As a member of the incubator network, OBD can assist fledgling companies in benefitting from WIN’s financial support system.

“For many new businesses, relief of any sort from the often burdensome costs of starting up is critical to their long-term viability,” Sorokes said. “The assistance we can provide our startups through WIN’s array of economic opportunities is something that will believe will be a game changer for entrepreneurs considering founding a company in our area.”

OBD, located at 301 N. Union St., works directly with entrepreneurs starting a new company from conceptualization to their eventual establishment in the community. In addition to WIN’s benefits, OBD provides startup companies with full suite of services through its business incubator including business plan development and implementation, mentoring, and guidance with legal and financial matters.

Prior to OBD’s establishment, the closest business incubators to the Olean area were located in Alfred and Fredonia.

“As economic development practices have changed to focus on nurturing small businesses from their earliest stages, we felt that it was imperative for Olean to have a place where entrepreneurs can get the best help possible in taking their ideas for a new company from the drawing board to the real world,” Sorokes said. “Becoming part of WIN helps us do just that.”

Bright Buffalo Niagara is bigger than ever for 2016

Fri, 15 Apr 2016 15:43:20 +0000

This June marks the eighth installment of the annual Bright Buffalo Niagara Venture Forum, an event led by UB and more than a dozen partners to showcase Western New York’s surging population of startups. Bright was first conceived during the 2008 recession and has grown to include dozens of companies and an ever-growing list of investors coming to see them — each a symbol of our region’s progress and ever-expanding entrepreneurial culture.

So what’s new in 2016? Bright has moved from its traditional fall home to June, where it will better fit with the other entrepreneurial support programs region wide. A $20,000 top prize and $5,000 people’s choice award have been added for the entrepreneurs with the best five-minute business pitches at the event. And Bill Rancic, Donald Trump’s (yes, that Donald Trump) first apprentice, will be on hand to provide a keynote address, and provide mentoring to entrepreneurs.

What can an entrepreneur expect at Bright Buffalo Niagara 2016?

Your application gets you in the running to compete for $25,000 in prizes at Bright. Leading up to the event, you’ll get to complete a pitch course, with the top five performers presenting for prizes at Bright and getting greenlighted into the 43North semifinals. Your application will also get you in the running to exhibit at Bright 2016, putting you in front of dozens of investors from Buffalo and those coming to the region for this event.

Accepted entrepreneurs will be required to make a $100 deposit, which is refunded to you after you participate in the event. So, there’s nothing to lose- head on over to www.brightbuffaloniagara.com and apply before Monday!

What if I’m not an entrepreneur?

If you’re an investor or otherwise interested in supporting regional startups, registration is now open and available here.

Who’s involved?

Bright is led by the University at Buffalo economic development team and includes our friends at Superior Group, Invest Buffalo Niagara, and more than a dozen additional partners. This is a huge team of dedicated, well-connected folks spearheaded by UB CBLS’s Julie Molenda. Come meet us all at Bright!

Making Buffalo a Village Capital Community

Fri, 18 Mar 2016 14:20:19 +0000

Buffalo is sending a delegation to Salt Lake City, UT this weekend to work with teams from Village Capital, the Ewing Marion Kauffman Foundation, Rise of the Rest, Revolution LLC, the Sorenson Impact Center to earn Buffalo a distinction of one of the initial 16 Village Capital Communities in the United States. I’m excited to be a part of the Buffalo contingent alongside UB colleague Martin Casstevens and Marnie Lavigne and Mark Branden from LaunchNY.

As a part of this initiative, UB and LaunchNY have committed to deploying a program to WNY support life sciences entrepreneurs using Village Capital’s unique peer selection methodology. Peer selection is aimed at democratizing entrepreneurship; alumni of Village Capital programs ave raised $140M+ in follow on capital and created 8,000 jobs.

You can watch both WIN’s and LaunchNY’s social channels this weekend as we work with our new friends from Austin, Baltimore, Chicago, Cincinnati, Fresno, Honolulu, Kansas City, Milwaukee, Minneapolis, Nashville, New Orleans, Portland, Philadelphia, St. Louis, and Washington DC to help America’s entrepreneurs take giant leaps forward. -Tom

Life Sciences: UB CAT Now Accepting Applications for 2016-2017

Tue, 26 Jan 2016 16:38:22 +0000

The UB CAT program provides hard-to-find funding and support for life sciences ventures and is seeking applications to particpate in the program in the year ahead.

The program drives the growth of firms using biomedical and bioengineering technologies and helps companies access UB researchers, assets, and facilities. UB CAT provides project cost-share support for R&D activities involving a company and a UB researcher with clear project deliverables that have significant potential for economic impact. The cost share is 1:1 for companies with fewer than 100 employees.

Incubator companies including YouFirst, HeadsUp, and Energy Intelligence have used the program in recent years. This is a powerful tool to fund critical development steps and connect companies to UB.

The UB CAT will award matching funds to eligible projects including:

New product development
Product design & optimization, including prototype development
Testing services utilizing specialized equipment
Validation and quality control
Clinical trials
Research & Development
Other projects supporting commercialization

You can learn more on the UB CAT website or through info sessions on February 10 and February 22. Questions? Contact Natalie Weil.

Tax Incentives for Incubator Companies

Mon, 22 Feb 2016 21:31:33 +0000

In 2013, New York State created the Innovation Hot Spot program to fund operations in business incubators and extend tax incentives to qualified ventures in participating incubators.

WIN serves as the Innovation Hot Spot in the WNY economic development region, and can certify companies for eligibility. To be certified, companies must be:

In good standing with a WIN incubator
In their first five years of operations (or seven years for life sciences ventures) and in the formative stages of development
On a path toward scalable development
At less than $2M in operating annual revenue

Once qualified, a company enters into a five year window of exemption from state corporate income tax and state sales tax on purchases. In that period, partners in the company are also eligible to deduct their income from the incubator company.

This window lasts for five years, regardless of company age when entering the program, provided the company remains in good standing as a resident or graduate of its incubator.

Is this START-UP NY?

No. START-UP NY is a related but different program for companies able to predict and quantify future job growth.

It requires a company to secure the sponsorship of a participating college or university that attests to (a) an academic connection or ‘alignment’ between the company and the university; (b) having reviewed the company’s plans, including its commitment to create a certain number of jobs over a five year period; and (c) that the company will occupy physical space that the university has put on its START-UP NY Campus Plan as a designated tax-free area. When these conditions are met, the company can get a 10 year exemption from state corporate income and sales taxes and new employees are exempt from state income tax on income earned from the company. START-UP NY was designed as a tax program that incubator companies can ‘graduate’ into.

Here are the differences in a nutshell:

The IHS program lasts for five years, whereas START-UP NY is ten.
IHS does not include START-UP NY's personal income tax exemption for new employees (just for partners).
START-UP NY requires an application and a campus to sponsor the company; the Hot Spot only requires that the company is an incubator client.
START-UP NY requires the company to move into specific space that is designated as a ‘tax free area’ in the participating university’s campus plan. IHS benefits are available regardless of physical location, as long as they are an incubator client.

Does this preclude a company from participating in START-UP NY down the road?

No. Companies leveraging IHS incentives are neither precluded from, nor promised acceptance into, START-UP NY. You would still apply into the program as you otherwise would. Please keep in mind that these programs can be used consecutively, but not concurrently.

Are you my attorney or tax advisor?

No! You should consult your own advisors to understand exactly how these programs might impact your own tax situation.

Official NYS documentation on this program:

To be certified for participation by WIN: Please review the READ ME FIRST file and contact your incubator director for next steps.

*****Special thanks to our friends at rev and the Southern Tier Startup Alliance for their ongoing collaboration in compiling this information.

IHS now operating as WIN

Wed, 06 Jan 2016 20:28:49 +0000

Welcome to 2016! Effective immediately, the Western New York Innovation Hot Spot will begin operating as WIN: WNY Incubator Network to better articulate our role and the work we do for incubated ventures in our region.

In 2015, we:

Certified 15 incubator clients to leverage NYS IHS tax incentives, adding money back to their balance sheets to fuel additional growth
Paired 7 incubator clients with outside experts to lead them past milestones in their scalable development through our Embedded Consultants program
Launched Buffalo Student Sandbox – WNY’s first accelerator program – to help 8 teams of disruptive student entrepreneurs take giant leaps forward
Coached 26 local ventures in our Pitch Prep series before they competed in the 43North semifinals
Provided major sponsorship and operational support to Pre-Seed Workshop, WNY Student2Biz, Buffalo Startup Weekend, 43North, and Bright Buffalo Niagara

WIN includes nine member incubators and two partner organizations supporting incubated ventures in the five counties of WNY. The program is chartered and financially supported as a NYSTAR Innovation Hot Spot and is managed by the University at Buffalo Office of Science, Technology Transfer and Economic Outreach (UB STOR).

Opportunities in 2016:

Student Sandbox – the opportunity of a lifetime for scalable and disruptive student-run ventures. Application is now online.
Embedded Consultants – subsidizes the hiring of outside experts to lead incubator clients past development milestones. More information online.
IHX Tax Incentives – provides incubator clients and their founders with income and sales tax deductions. More information online.

Linking incubator companies with outside experts

Tue, 01 Mar 2016 20:02:38 +0000

Starting a business is never easy; it takes skill, money, timing, expertise, some luck… and a lot of help. As incubator managers, we created the Embedded Consultants program to link scalable incubator ventures with outside experts to lead them past specific milestones in the company’s development.

Tackling these issues – and adding new knowledge and skillsets into incubator startups – is a huge opportunity for our region. WIN can subsidize up to 80% of the cost of well-qualified projects.

A few examples of current and past projects include:

Hiring a potential CEO to develop a venture’s growth plan and help all parties get comfortable working together
Analyzing the data coming out of an app and preparing a path for the company to proactively use it
Understanding the regulatory environment surrounding a company’s new product launches
Studying the competitive landscape and putting the go-to-market together in a potential new vertical
Building out standard operating procedures for an incubator company as it takes products to market
Establishing financial systems and controls to help a company that was growing unsustainably

The Embedded Consultants program is available to scalable ventures in good standing with WIN incubators. The full Embedded Consultants program overview is available here.

PROGRAM SPONSOR:

Think you're ready to take the plunge?

Wed, 07 Oct 2015 15:29:35 +0000

I get to meet with would-be entrepreneurs all year long. Buffalo is fortunate to host numerous events to help these folks along, but October is special. October is when Buffalo Startup Weekend happens.

Startup Weekend is a grassroots movement of organizers in 200+ cities around the world. Volunteer organizers help early-stage entrepreneurs think through their ideas and address the basics behind starting and running a business. As a consortium of WNY's business incubators, we back Startup Weekend because we know it builds a pipeline of entrepreneurs for our area.

How does Startup Weekend work?

First things first - sign up to attend!

Friday night, anyone attending is free to pitch an idea they want to work on. Last year, more than 40 people got up to pitch, and then spent the rest of Friday night recruiting other attendees to join their teams.

By Saturday, the teams are working on their ideas, turning them into business models and even building out prototypes. Volunteer mentors arrive to provide teams with outside perspective.

On Sunday, teams keep working, address any remaining issues, and prepare to pitch. Expert judges are brought in to rate the teams. Top performers receive a suite of prizes to help them launch their business.

What’s the value?

Judges select winners and prizes are awarded, but the relationships built over the 54 hour weekend are what really propels teams forward. Startup Weekend is an opportunity to meet and work with hundreds of WNY’s forward thinkers, dreamers, and doers. It’s your chance to meet new people and try new things.

You’ll meet business owners looking to stay sharp, founders with big ideas who need help to make them happen, and skilled coders looking for projects to work on. You’ll meet the champions of entrepreneurship in WNY who will back your business from its earliest stages until you’ve made it big. You might even meet your future.

Sign up for Buffalo Startup Weekend 2015 - October 23-25.

Rise of the Rest shows WNY at our Best

Mon, 26 Oct 2015 16:58:55 +0000

Later today, Steve Case and his Rise of the Rest tour are coming to Buffalo. Buffalo Niagara Enterprise is hoping the crowd in Buffalo will be the biggest and most spirited stop in this year’s tour, which also visits Philadelphia, Baltimore, Manchester, and Portland.

Curious about tonight? It’s a free event at Buffalo RiverWorks – another sign of our city’s renewal that’s worth the trip in and of itself.

So what’s happening? Eight Buffalo-area startups have been selected to compete for a $100,000 investment from Steve Case. We’re incredibly proud to have been of direct help to 7 of the 8 that have made it this far (and as you can see, we're certainly not their only supporter):

KeepUp - A productivity app that lets you take back your life from social media – KeepUp was a winner in the 2014 43North competition and now resides in the 43North incubator within the BNMC Innovation Center. KeepUp is currently leveraging the IHS Embedded Consultants program to learn more about their app’s users and work with the data they collect. Stay tuned.
Cartefi - A network for entities to post, find and share new opportunities – we first met Cartefi, a group of recent Fredonia grads, when they applied to the Buffalo Student Sandbox program. Julian Anjorin and Mitch Skomra spent the summer with us in dig, and moved the business forward full time while cofounders Rich Rogers, Ari Goldberg, and Andrew Klajbor burned the midnight oil. Nine weeks later, Cartefi had moved from idea to reality.
POP Bio Technologies - Innovative nanomedical cancer drug delivery solution – born out of the labs at UB, inventor Jonathan Lovell was soon paired with Jonathan Smyth, a law student and intern at UB STOR. Smyth led POP into UB’s Panasci competition, where he earned $25,000 to advance the company further. Next up, POP entered into Buffalo Student Sandbox, where they worked on their 43North application. In July, POP was named as a 43North semifinalist, and has the next round of the competition to look forward to in addition to RotR.
InteractiveX - Platform where professors collaborate in the development of interactive e-books – Rohan Shah, a business and engineering student at UB from Goa, India,, entered into UB’s eLab in December 2014. Rising to the top in that program, he won $8,000 to spend on the business, also won at student2Biz, and earned a spot in Buffalo Student Sandbox, which turned into another $10,000+ injected into the business.
Energy Intelligence - A road-mounted energy harvesting system – Daniel Shani, a product of Brandeis and the University of Chicago, came to Buffalo via the 2014 43North competition. Daniel has been working with NYSERDA’s Directed Energy program and IHS’s Embedded Consultants program to refine his firmware as he readies to launch his product.
Heads Up Display - Wearable technology company focused on allowing users to make data driven decisions in real-time – perhaps the best example of a company taking advantage of the myriad opportunities available to them in WNY. UB CAT, Z80Labs, IHS, Buffalo Startup Weekend, UB CEL, Algonquin, and Startup NY are all entities that come to mind as a part of the Heads Up story.
Smart Walls - A construction company that manufactures and builds deployable walls for flood protection – Jorge Cueto is a UB PhD student in structural engineering and Colombia native, where he already founded and runs a business. Jorge joined UB’s eLab program, where he won $8,000 to move his idea forward, was a finalist in the Panasci competition, and now works out of UB’s tenX coworking space.

Fredonia, UB CAT, Z80Labs, Panasci, dig, 43North, eLab, student2Biz, tenX, Directed Energy, Innovation Hot Spot, Buffalo Student Sandbox, Buffalo Startup Weekend, UB CEL, Algonquin, and Startup NY – wow! Eight companies will pitch tonight, but these organizations are supporting dozens more ventures you’ll be hearing about in the year to come.

Storillo: A Collaborative Story in Progress

Mon, 27 Jul 2015 01:07:42 +0000

The following entry is from Thomas Wilkie, cofounder of Storillo and a graduate student at Daemen College.

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Coming into Sandbox, Storillo's story was written by a handful of people: myself, my co-founder Tim, some friends and family, and a few people at Daemen (thanks Cathaleen!).

And while the plot moved forward, with such a small group of contributors on the same page (figuratively speaking), there was little conflict along the way.

Enter Sandbox and a lot more voices and a lot more ideas as to what Storillo is and what Storillo could be. And at the beginning, I worked to regain control of the story I was writing as I saw it becoming something I hadn't intended.

But what I realized was that the CEL classes and board meetings weren't designed to necessarily change the story, but to challenge it. It's easy to think that your first idea is your best idea and to look for ways to justify it. And it's easy to get stuck on that idea and to defend it. But defending an idea doesn't help it grow. Sandbox has added the conflict necessary to move the plot along.

So what is Storillo again? Storillo is a collaborative storytelling network where people connect to tell stories piece by piece. Like how I have been begun integrating the various voices at Sandbox into Storillo, we are trying to move that process online and get people to collaborate on stories.

Why is this important? In our constantly connected world, how much are we really connecting? Clicking like or following someone when you are bored is not creating any true, meaningful connections between people. Instead, we believe people connect more deeply by sharing in a common experience. We want to break down the walls that divide people and bring them together to create.

Our focus on collaboration and creation is essential because as our world grows more complex, we need to develop the skills to work together effectively to create solutions to ever more complex problems. And by using stories we are encouraging people to think creatively and to not be afraid to take chances.

It is for these reasons that we are excited about the possibility of using Storillo in schools and are currently exploring this opportunity, which we may not have explored for quite some time without the Sandbox.

We are close to having our prototype finished and we'd love to have some help testing it out. So if you're interested, stop by storillo.com and sign up for updates so we can let you know when you can become a part of our story!

Cartefi Aiming for the Sky

Wed, 22 Jul 2015 00:13:23 +0000

The following is Julian Anjorin's account of his experience in Buffalo Student Sandbox. A Syracuse native and Fredonia grad, Julian joined friends and business partners to form Cartefi, which is developing a better online platform to connect governments with real estate professionals. Cartefi has used the Sandbox as an opportunity to develop their product, regine their strategy, and meet stakeholders in their market.

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Skills. Knowledge. Experience. These are useful attributes to anybody looking to excel. For a successful entrepreneur, they are essential. The Sandbox provides us with the means to build upon these attributes and exercise them weekly.

Over one month into the Sandbox and our days fly by as we continue to work hard to reach our goals. As we constantly seek more information through private and sandbox related connections, our understanding of the market and industry is growing, and our focus is solidifying and narrowing. The Sandbox continues to provide us with invaluable opportunities that get thrown right at us. Our most recent one being a chance to present our idea at a table at the Tech Meets Taste startup networking event in Syracuse to help us network even farther.

It is interesting to see how all of the startups are growing in the Sandbox. From team Ethos, learning how to strongly market their business and pick up new clients to team TMI finely adjusting their market while coming up with great ideas for new content; the benefits of the Sandbox are apparent in every team and it’s a truly amazing sight to not only see, but be a part of.

What is Cartefi?

Cartefi is a website with user generated content that is geared to better connect, municipalities and government agencies with real estate developers and Urban planners, Architects, Engineers, and any other related consultants. Our service revolves around the RFP process. At the end of the day it is simultaneously a research tool, social network, and news source leading to better proposals for all users.

Where Cartefi is now?

We have been scheduling more and more meetings by the day and delving deeper into the real estate industry. Currently our product is still in development and should be ready for launch by mid-September. It is showing a lot of promise! As of now, all stakeholders we have met with that would be issuing opportunities or RFPs have been eager to try the service as we asked them about their headaches and tailored our service to accommodate them. We are currently building that side of the market within our service by building profiles for the interested parties while we get to learn more about the other side which would be developers and related consultants.

Where is Cartefi headed?

As we strive to expand, we will keep meeting with potential customers and market our service to the best of our ability. With a solid team of open-minded and motivated co-founders, Cartefi will be hitting the sky.

If you or anyone you know deals with real estate, and would like more information on what we do or how we could help facilitate business in your/their area, please don’t hesitate to contact us @ janjorin@cartefi.com

POP Biotech is Targeting the Delivery of their Pitch

Fri, 17 Jul 2015 16:53:51 +0000

The following is from Jonathan Smyth of POP Biotechnologies LLC. POP was previously known as Photozyne and during their Sandbox expeirence, orchestrated a name change to better clarify their value product and value proposition.

Crystalizing the value of our company and technology in a simple and easy to digest presentation has been a challenge. We develop innovative nanotechnology based drug delivery systems which allow for the highly targeted release of chemotherapeutics, specifically at a cancer site upon laser irradiation, providing orders of magnitude improvements in drug safety and efficacy.

It is no simple task to succinctly describe the complexities of cancer therapeutics, drug regulatory regimes, and our technical advantages. We need to capture this message in a manner which has sufficient facts and data to capture the minds of the well acquainted while not overwhelming an audience with technical information. Oversimplification of such a complicated venture can lead to inaccuracies which diminish the credibility of our business, while at the same time, overcomplicating our presentation loses diminishes our ability to retain the attention of a diverse audience.

We have constantly been refining our materials for potential investors and partners. Working as part of a collaborative program like the Buffalo Student Sandbox allows us to get periodic feedback from a diverse group of talented individuals who each bring their unique perspective.

We have been making tremendous progress, both in the lab and in the incubator. Our technical findings are incredibly exciting and highlight the life-changing potential of our technology. In the past month, we have been able to make substantial progress in honing the message of our pitch deck and other marketing materials thanks to working in such an environment which generates consistent feedback from a group of highly-engaged entrepreneurial peers.

We are working hard to balance our desire to share hard science with our need to capture the hearts and minds of potential partners and investors.

Interactive X-periences at the Sandbox.

Fri, 10 Jul 2015 19:39:21 +0000

The following blog post is from Matt Cuciti of Buffalo Student Sandbox Team InterativeX.

Where else will you go when you seek direct exposure to industry experts and the fair criticism of true Venture Capitalists? Who will you call when you have questions regarding the legality of your business activities? And when your questions pile up and your expertise is exhausted, what will you do when you don’t know what to do?

If you’re in the sandbox, you’re covered. You can ask an expert, or at least get a good reference to one. You can get contrasting opinions, and decide for yourself what is best. In the sandbox, you are free to take advice or leave it. Ultimately, the sandbox treats you, the student entrepreneur, with incredible dignity. It provides the chance to take your company in a direction, and work to realize your dreams on your own terms. In fact, the sandbox will support your efforts and encourage you to realize your vision.

The sandbox teaches you what a business is.

Not all of these companies will exist in 5 years. Some of them won’t find their niche, and their progenitors will move on to new projects and perhaps found or join other fledgling companies. But the lessons learned here at the Sandbox will benefit us all in our careers as professionals and business people. The value of the sandbox will become very clear when Buffalo benefits from individuals with a clear idea of what it truly means to add value. In this region, our workforce is already stronger, especially now that these promising ventures are starting to take shape.

And the successes here are not trivial. More is discovered every day about the places in the markets we’ve begun to explore. We are recognizing efficiencies in our markets that were yet-undiscovered. Some of these discoveries can be capitalized-upon; and some of them are even enough to sustain us.

InteractiveX thanks the Innovation Hot Spot for this unprecedented opportunity to explore and experiment in the market. We would not be where we are today without this support; and are grateful for every effort made to enhance us as a business and build us up to be a leader in our beachhead market.

Now, if you have a manuscript, notes, or even PowerPoint slides, and you want to self-publish an interactive work based on them, there is one company that knows interactivity: InteractiveX!