Upstate's Central New York Biotech Accelerator Wins $625,000 In State Funding

Syracuse NY

01 January, 2022

3:42 AM

Description

Press release from Upstate Medical University: December 29, 2021 The Central New York Biotech Accelerator (CNYBAC) at Upstate Medical University has been awarded renewal of funding as a NYS Certified Business Incubator in the amount of $625,000 in the ninth round of the regional economic development council initiative. The funding was announced by Gov. Hochul in December. According to CNYBAC Executive Director Kathi Durdon the renewal of funding will continue to support innovation programming including the regional NYSTAR partner events, the NEXT Innovation Conference and Manufacturing Workshop, as well as CNYBAC's Virtual Concept to Commercialization Monthly Series. Most importantly, the funding supports the highly successful CNYBAC Medical Device Innovation Challenge (MDIC), an intensive mentorship program supporting early stage innovation, which has graduated 26 teams to date. The funding also provides stipends to The Innovation Law Center at Syracuse University whose students perform commercialization research for our accepted MDIC teams and due diligence reporting of applications. The MDIC program is now accepting applications through April 30: https://www.cnybac.com/medical-device-innovation-challenge-in-the-national-grid-creation-garage/. Funding will also support the purchase of equipment and supplies for CNYBAC client shared use as well as salary support to manage programming. The CNYBAC a 52,000 square foot-building includes state-of-the-art wet labs, shared equipment, a TED-enabled 200-seat theater and National Grid Creation Garage with 3D printing hardware. CNYBAC staff promote matching assistance to Upstate's experts, facilities and equipment and to an expansive innovation ecosystem including other NYSTAR assets. The CNYBAC, located at 841 East Fayette St., currently has 22 clients. This press release was produced by Upstate Medical University. The views expressed here are the author's own.