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Region gets funding for Innovation Hot Spot

Rochester Business Journal
December 16, 2013

The Finger Lakes is one of five regions awarded state funding to launch Innovation Hot Spot programs.

Co-led by High Tech Rochester Inc. and Rochester Institute of Technology's Venture Creations, the Finger Lakes Innovation Hot Spot will receive up to $250,000 in state funding to assist startups, officials announced. HTR is an affiliate of the University of Rochester.

The partnership will leverage the strengths of the three entities to improve services to the region’s entrepreneurial activities, ESD officials said. The goal is to double the number of startups graduating within three years.

The center also will be supported by a consortium of institutions, including RIT’s Center for Urban Entrepreneurship, Upstate MedTech Centre in Batavia, Cornell Agriculture and Food Technology Park in Geneva, and the Rochester BioVenture Center, RIT officials said.

The $250,000 in annual funding will support startups in areas such as legal, technical and business support services, officials said.

The other Innovation Hot Spots are at SUNY at Buffalo; at an innovation triangle connecting Cornell University, SUNY at Binghamton and Corning Inc. in the Southern Tier; at the Syracuse Technology Garden; and at the Shipley Center for Innovation at Clarkson University in Potsdam in the North Country.

(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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