Fed Funds Will Help thINCubator Build On Previous Success By Providing Entrepreneurs With Start-Up Funding & Connecting Them With Resources Needed To Succeed & Create Jobs
Schumer, Gillibrand: Fed Funds Will Keep Job-Creating, Innovation Engine At Mohawk Valley CC Chugging
U.S. Senators Charles E. Schumer and Kirsten Gillibrand today announced $499,500 in federal funds for Mohawk Valley Community College’s thINCubator. This funding was allocated through the federal Economic Development Administration’s (EDA) i6 Challenge program and will allow Mohawk Valley to provide funding for start-up companies as well as connect them with the resources needed to succeed and create jobs. Specifically, this funding is aimed at helping entrepreneurs in Upstate NY’s burgeoning nanotechnology, cybersecurity and Unmanned Aerial Systems sectors. Schumer and Gillibrand said this funding is a critical component of making this project a reality.
“Start-up companies are the job-creating engines that power our economic growth in the 21st Century. But as any entrepreneur knows, the first few years can be especially challenging,” said Senator Schumer. “This federal funding will build on the thINCubator’s success, by enabling it to provide local entrepreneurs in the burgeoning industries of nanotechnology, cybersecurity and Unmanned Aerial Systems the resources they need to kick-start innovation and provide high-tech jobs to Upstate residents.”
Schumer continued, “When pushing to make Griffiss a national test site for UAV technology and innovation, these are exactly the kinds of wins and advancements I had in mind. To know that both investment, educational programs and entrepreneurial support is now trickling to Downtown Utica because of the test site is music to my ears, and that’s why I’ll keep doing all I can to make Oneida County a national hub for the UAV industry. I will continue fighting tooth and nail to secure the federal funding Mohawk Valley Community College needs and do everything in my power to grow local start-up companies across Upstate NY.”
“Upstate New York is ripe with opportunity and this funding would enable local businesses and entrepreneurs to unlock new investments and expand their operations,” said Senator Gillibrand. “The Mohawk Valley Community College’s Upstate Innovation Accelerator will help our businesses and entrepreneurs with the resources and knowhow they need to create growing, thriving businesses in new high-tech industries. Providing startups with these resources will continue to help boost the local economy, revitalize our communities, and create new jobs allowing for long-term economic growth.”
The EDA’s was launched in 2010 as part of the Startup America Initiative. The i6 program is a national competition that makes small, targeted, high-impact investments to support startup creation, innovation, and commercialization. EDA grants are awarded through a competitive process based upon the application’s merit, the applicant’s eligibility, and the availability of funds. More information on EDA’s grant process and investment process can be found at www.eda.gov.