New Initiative in Downtown Buffalo to Boost Startup Community
$32 Million Investment Will Match Students, Faculty, Clinicians and Researchers with Resources to Commercialize Innovations
Partners Include Top Industry Leaders, Roswell Park Comprehensive Cancer Institute, Jacobs Institute, Hauptmann-Woodward Institute and Kaleida Health
- The planning, design and renovation of UB’s New York State Center of Excellence in Bioinformatics and Life Sciences into incubation and entrepreneur support space is underway and expected to open in early 2020. The space, which will be a designated START-UP NY-eligible location, will be made available to companies affiliated with UB and partner organizations. The university will also utilize various portions of the facility for entrepreneur support programs, events, education and related services.
- Initial investments through the Innovation Hub’s $13.5 million fund have commenced with a focus on fueling proof-of-concept opportunities and pre-seed/seed growth. As a result, seven proof of concept accelerator fund awardees have been selected, and the fund is expected to ramp up activity later this year, with additional funding announcements expected soon.
- Outreach engagement and support programming to best serve and guide founders and startups through the various phases of development is underway. This outreach, curriculum and programming is being introduced and implemented.
The University at Buffalo’s investment in fostering local companies will bolster the Buffalo region’s reputation as one of the country’s most entrepreneurial metro areas. The research and work being done in Western New York through these businesses will help solve current and future problems leading to local, national and global impact. To learn more about UB BEP, here.
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