Outside the snow fell and the wind blew, but inside the SUNY Fredonia Business Technology Incubator Monday morning the climate was decidedly warm, rich with palpable excitement and genuine potential.
The technology incubator is a state-of-the-art 21,000-square-foot facility located on Central Avenue in Dunkirk that will provide start-up and spin-off tech companies with targeted resources and shared, common business functions like accounting, marketing and legal services. Up to thirty companies can be accommodated at one time and may stay at the incubator for as long as three years before finding a permanent home in Western New York.
HOW IT CAME ABOUT
“A year ago, we were standing in a field,” SUNY Fredonia President Dennis L. Hefner noted during the grand opening ceremony. “This success is attributable not to one person, but to a whole group of people.”
The SUNY Fredonia Business Technology Incubator has been made possible through the partnership and collaboration of the university, regional government and economic development organizations. Funding for the $5.7 million facility has come from local, state and federal sources.
New York State pledged $4.7 million in bonded funds for the new building. A federal appropriation was also secured from the Department of Housing and Urban Development. An additional $605,000 in programming support came from a grant form the New York State Foundation for Science, Technology and Innovation (NYSTAR). A $300,000 “challenge grant” from the John R. Oishei Foundation will provide operational support for the incubator. The grant is currently supported by NRG Dunkirk Power, Lake Shore Savings, DFT Communications, Graf Realty and Ralston Purina. Support has also come from Chautauqua County sources, including a $125,000 grant to assist with an endowment to help start-up companies at the incubator. Additional support has come from the City of Dunkirk, The Chautauqua County Industrial Development Agency and the Northern Chautauqua County Community Foundation.
The “green” facility was designed by JCJ Architecture of Hartford, Connecticut and built by Perry Construction of Erie, Pa.
WHAT IT MEANS FOR START-UPS
“Normally, a start-up company has a one in five chance of succeeding,” Hefner said Monday. “But when that start-up is affiliated with a university incubator, historically that ratio increases to four in five. That’s what this facility represents: the chance to turn that ratio around, and turn our region’s economy around in the process.” Incubator Director and Robert H. Fritzinger agreed. “If we can mitigate the risk just a little bit, we just might have the next Intel in this building,” he said.
Five start-up companies have already been identified as tenants and will be moving into the facility in the coming days. Those start-ups are: Cell Text Data Systems (CTDS), mARTe, SUNY Fredonia Shale Institute, Van Buren Bay Cosmetics and Zenhire. [EDITOR'S NOTE: Chautauqua Vibe will be featuring in-depth profiles on each of these companies, as well as subsequent tenants, as part of our ongoing coverage of the SUNY Fredonia Business Technology Incubator and its impact on economic development in the region.]
These tenants need look no further than Noobis, Inc. to see the benefit and potential the incubator program offers. Noobis, a social media company, has been a tenant of the incubator in its temporary location and was expected to be part of the inaugural class of tenants moving into the new facility Monday. But Jon and Mike Brennan of Noobis have exceeded expectations and officially graduated from the program as part of the ceremonies Monday.
WHAT IT MEANS FOR THE REGION
“Our goal was to create an incubator that would promote economic growth in the Western Southern Tier of New York,” said Hefner. “We are accomplishing this by supporting young, innovative, technology-based companies. This is an unprecedented opportunity for heightened economic development within our region.”
Chautauqua County Executive Greg Edwards said he sees the incubator as one more tool to attract and retain new businesses to the County. He cited the recent news that SKF Aeroengine will be building a new facility in Falconer and retaining 600 jobs in the process. “This adds to what we’ve already proven: that Chautauqua County can compete locally, regionally, nationally and internationally.”
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