Program aims to boost entrepreneurship in region
The SUNY Research Foundation is funding several institutions of higher education, including five in upstzte, to foster entrepreneurship.
SUNY vice chancellor for research Tim Killeen says the Entrepreneurship-In-Residence program will place experienced private-sector entrepreneurs on SUNY campuses to develop businesses based on research being undertaken there.
“Often researchers in university settings don’t have the skill sets to know what to do to build a small company, and get the start-up, and write the business plan, but people who have done that before can provide a lot of mentoring and experience that can really help shape those activities and make easier to build and build-up these start-up companies,” said Killeen.
UB’s project manager Jeff Dunbar says the program aims to build the region’s entrepreneurial ecosystem.
“If you’re in Boston where they already have a vibrant entrepreneurial, venture capital community the pieces come together a lot more easily. Then here, where we're still developing that entrepreneurial ecosystem, where you can have entrepreneurs supporting startup companies, and angels, and seed funds, and venture funds to take it trough the various phases of development,” said Dunbar.
Dunbar said some of the research-based business opportunities they’re working on include a lipid nanoparticle that could essentially slow the process of medication tolerance in patients, and they continue to develop various technologies within solar panels.
The schools are collectively matching a total of $25,000, with UB doing most of the match.
Other recipients of the award include the College of Nanoscale Science and Engineering, ESF/Upstate Medical University, Stony Brook University, University at Albany, Hudson Valley Community College and Cobleskill.
Disclaimer: SUNY Research Foundation is an underwriter of the Innovation Trail reporting project.