|Jan 04, 2013|
New York State awards $15 million to three new clean-energy 'idea incubators'
|(Nanowerk News) The New York State Energy Research and Development Authority (NYSERDA) has awarded a total of $15 million to Columbia University, the Polytechnic Institute of New York University and High Tech Rochester to create three Proof-of-Concept Centers dedicated to helping inventors and scientists turn their high-tech, clean-energy ideas into successful businesses.|
|NYSERDA will invest $5 million in seed money at each center over a five-year period, with cost-sharing required. The centers are expected to operate on their own after NYSERDA funding ends.|
|Centers will link business experts and early-stage investors with scientists making new discoveries. The new entities – “idea incubators” for very-early-stage entrepreneurs – will fill a gap between the maturing of an idea in a research environment and the creation of a business. Governor Cuomo announced the Proof-of-Concept Center competitive proposal process last May.|
|“These centers will take innovation to the next stage, by connecting inventors and scientists with business mentors and potential investors,” said Francis J. Murray Jr., President and CEO, NYSERDA. “Under Governor Cuomo’s leadership, these centers will help turn good clean-energy ideas into cleantech companies ready to advance toward commercialization, which will in turn provide economic development and investment in New York’s cleantech industry.”|
|The three Proof-of-Concept Centers will be created by:|
|“We appreciate the trust that NYSERDA has placed in Columbia and our partner institutions,” said Lee C. Bollinger, Columbia University President. “Across these campuses, schools and academic disciplines, our researchers have been pioneers in developing a wide range of sustainable technologies and clean energy solutions. With this grant NYSERDA is making a major investment in the people and ideas that can address one of the most fundamental long-term challenges facing our nation and our world, while continuing to foster the community of entrepreneurs that can create jobs in our city and our state.”|
|“High Tech Rochester is excited to be a part of this important NYSERDA initiative to accelerate the creation and growth of clean-energy startups across the state,” said James Senall, HTR president. “Together with our university, industry and investor partners, we look forward to helping catapult New York State into the national spotlight as a clean-energy leader.”|
|“The PowerBridge proof-of-concept-center is an important element in creating and fostering transformational entrepreneurship. With promising clean energy technology emerging from NYU-Poly, NYU, CUNY and others, and thanks to this exciting partnership with NYSERDA, we are pleased to connect researchers with investors, customers and partners who make this regional ecosystem so dynamic,” said Katepalli Sreenivasan, NYU-Poly’s Provost and NYU’s Senior Vice Provost. “NYU and NYU-Poly are committed to supporting start-up emerging technology ventures that will benefit the urban environment. This new center will enhance our entrepreneurial culture to drive new businesses, jobs and innovation, placing New York City at the forefront of the clean economy.”|
|In addition to the Proof-of-Concept Centers, NYSERDA has provided support for additional clean energy entrepreneurship initiatives including:|
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