 Startups Lost in the Mix
In the world of government financial rescue, tax credits, subsidies, and guaranteed loans have been effective traditional interventions for stressed businesses in times of crisis. However, as these economy-boosting programs have targeted mature (large and small) businesses, they have not been accessible to startup companies. For startup companies, access to capital is not through banks or SBA programs, but through angel investor and venture capital investors. One of the main reasons for this is that most startups lack collateral, guarantees, and predicable revenue forecasts. Investors who invest in these types of companies are willing to accept these risks in order to participate in extraordinary returns. The benefit is not only to investors, however.
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 The Tech Garden recently welcomed five new startup members that now have access to business resources, mentors, funding opportunities and events.
 Ducted Wind Turbines (The Clean Tech Center) has had some major traction leading into 2020 and is set to have a breakout year. The startup produces wind turbines that provide the lowest cost per kWh in the small turbine market. Ducted Wind Turbines (DWT) design produces more than two times the energy of a conventional open bladed wind turbine of the same rotor diameter. Its first generation turbine is currently being tested at Clarkson University.
 The Tech Garden recently welcomed three new startup members that now have access to learning workshops, business resources, mentors and funding opportunities.
 Join us for Innovation In Your Industry; an event that introduces emerging tech to existing markets, from startups right in our backyard.
 CenterState CEO has hired two new employees for its Innovation and Entrepreneurship portfolio: Sarah Hood and Joe Romano. Additionally, Jeff Fuchsberg has been named as the new director of GENIUS NY.
 The Tech Garden held its first annual Startup Night and Holiday Party that included announcing the GENIUS NY 2020 finalists; member updates from 20 startups; facility tours; networking; and a 2019 Tech Garden review. More than 100 people attended the inaugural event.
 Governor Andrew M. Cuomo recently announced that the home of the innovative GENIUS NY UAS competition, the Tech Garden in Downtown Syracuse, will undergo a major expansion project to include the addition of two floors to the existing facility. The increased visibility and street-scape will serve as the anchor of the Syracuse's City Center Innovation Hub, a core component of the Syracuse Surge strategy, and will serve as the gateway to the "Innovation Alley" on Warren Street in Syracuse. Empire State Development is assisting the expansion project with up to $12.5 million made available through the regionally designed CNY Rising Upstate Revitalization Initiative plan.
Edison Innovative Power Expands Next-Gen Product Engineering and Manufacturing Internship Program10/8/2019 Edison Innovative Power LLC (EIP) recently announced the expansion of its paid internship program, recruiting six student interns from CNY universities specializing in mechanical, software, computer, and electrical engineering.
Initially co-funded by the New York State Energy Research and Development Authority (NYSERDA), the semi-annual EIP Internship Program was designed to help prepare the next generation of clean energy workers through internships for students and recent graduates at New York State’s clean energy companies. The Tech Garden and Upstate Capital hosted Upstate on the Lake at The Sherwood Inn in Skaneateles for technology startups and investors from around New York state. The event showcased promising entrepreneurs and gave investors a chance to learn more about the innovation happening in one of Central New York’s premier incubators.
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The mission of CenterState CEO’s Tech Garden is to stimulate high-tech entrepreneurship, foster the development of emerging growth companies, and support technology commercialization throughout the region.
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