Rochester Business Journal

A privately funded $15 million initiative has been established for nanotechnology businesses in New York owned by women and minorities.

The fund is part of the Global 450 Wafer Consortium at the College of Nanoscale Science and Engineering, state officials announced Sunday.

It will be used to support specialized education and training programs that increase opportunities for women and minorities, officials said.

“Over the past two years, the state has worked hard to ensure that our minority and women-owned business enterprises play a leading role in New York’s economic recovery,” Gov. Andrew Cuomo said in a statement.

“This $15 million fund created by leading tech businesses who have chosen New York State to invest in next-generation computer chip manufacturing will help create opportunities for students and workers from under-represented groups to be a part of the state’s rapidly growing nanotechnology sector.”

The initiative was funded by Intel Corp., IBM Corp., Globalfoundries Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Samsung Group, officials said.

The companies are investing $4.4 billion in the Global 450 consortium, officials said.

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