Resource Spotlight: Central New York Biotech Accelerator
Central New York Biotech Accelerator
A new resource in the Central New York Region is the CNY Biotech Accelerator, a joint project between Upstate Medical University and SUNY-ESF (Environmental Science and Forestry). The Accelerator is focused on technologies that are related to the life sciences and the environment such as renewable energy, biofuels, medical devices, pharmaceutical therapies, and cleantech.
It offers a combination of facilities, a 40,000-square-foot building that houses 18 independent laboratory-office modules and several common areas, and professional services and resources. The resources offered are a combination of regional organizations such as the Tech Garden, Centerstate CEO, and Syracuse Score as well as local business competitions and local funding resources.
Listed professional services include essential support such as access to clerical support, discounted rates for professional services including attorneys, accountants, and HR in addition to discounts for use of core facilities and important relevant technologies. These core facilities and relevant technologies include important biotechnology tools like MRI, flow cytometry, DNA sequencing, and microarray, among others.
New York’s Regional Economic Development Council initiative awarded the accelerator and Loguen’s Crossing, the site of the facility which was formerly known as Kennedy Square, $5.6 million. Of that award $3.6 million was designated to redeveloping the 10-acre site where the accelerator is located into a residential and commercial area.
In order to utilize the accelerator, companies must complete an application and send it to the Accelerator’s Executive Director, James H. Watson. Space is competitive and application criteria is comprehensive. Things that are required for consideration include business plan, amount of financing raised and anticipated needs, competitive market landscape analysis and professional references.