Release Date: June 22, 2001
BUFFALO, N.Y. -- Beginning July 1, the University at Buffalo will assume full responsibility for management of its UB Technology Incubator facility, located at 1576 Sweet Home Road in Amherst.
Since opening in 1988, the incubator has been managed by the Western New York Technology Development Center (TDC).
UB Vice President for Research Jaylan S. Turkkan, chair of the UB Business Alliance, said the change reflects the maturation of the incubator facility as a critical component of the UB Business Alliance, created in 1998 to enhance UB's partnerships with industry. It also is part of a national trend for universities to manage their own business incubators.
"The change in incubator management is a natural evolution of the university's partnership with TDC," Turkkan said.
"The UB Technology Incubator is a Western New York success story and TDC deserves a major share of the credit. The change recognizes TDC's growing strength as a provider of business consulting services and UB's extensive capabilities in entrepreneurial development. The new relationship will enable TDC and the UB Business Alliance to further improve the full range of services available to new business enterprises in our region."
In its 13-year history, the UB Technology Incubator has been home to 57 technology start-up companies. Approximately 70 percent of them are still in business today; all but three have stayed in Western New York.
Between current tenants and graduates, the incubator has been responsible for the employment of more than 450 people and for the generation of aggregate annual revenues in excess of $61 million.
According to Juli Riemenschneider, senior project manager with the UB Business Alliance who is coordinating the transition, UB entered a relationship with TDC in 1988 because it did not have the necessary resources to fully manage the facility.
TDC is a private, not-for-profit corporation whose mission is to strengthen, expand and
diversify the technology and manufacturing base in the five western counties of New York. In addition to its work with technology startups, TDC provides consulting and technical assistance to small- to medium-sized manufacturing companies.
Under the new arrangement, TDC will continue as an anchor tenant in the UB Technology Incubator and will provide initial business advisory services to all new tenants of the present incubator, as well as offer continuing business consulting services to incubator tenants.
"The TDC values its long-standing partnership with UB that has led to the formation of many high-tech companies and employment in our community," said Robert J. Martin, president of TDC.
"Our changing relationship recognizes the university's increasing commitment to business incubation and the TDC's continuing support of this commitment. The expanded efforts in business incubation will accelerate UB's contributions to our community's technology business development."
The change also reflects the growing needs of companies residing in the incubator, Riemenschneider said.
"Under the new arrangement, the incubator plans to solicit outside local service providers for our clients for strategic planning, legal consulting, accounting, marketing and other services that new businesses need," said Riemenschneider.
In cooperation with the incubator, these local service providers will work with incubator companies on a pro bono basis or at significantly reduced rates.
"The expectation is that as they mature and graduate from our facility, the companies that started out in the incubator will become regular paying clients of these firms," said Riemenschneider.
The UB Technology Incubator supports the establishment of new technology-intensive businesses. Many are run by UB faculty members, students or alumni; commercialize UB inventions, or provide applied-learning opportunities for UB students. The incubator provides office space, laboratory facilities, office support services, business consulting and access to UB resources to start-up technology companies.
For more information on the UB Technology Incubator, please contact Juli Riemenschneider at 636-2568 ext. 24.
For information on any other services provided by the UB Business Alliance, please contact Jacqueline Badura, business advocate, at 636-3651 or go to http://www.uballiance.buffalo.edu