Tandon in the News
NYU-Poly helps open business ‘incubator’
- Serena Lelah for Washington Square News September 15th, 2009
- Source: http://www.nyunews.com/news/2009/sep/14/incubator/
Bruce Niswander, director of the Polytechnic Institute of NYU, is now heading up the newly established, city-funded "business incubator" on 160 Varick St.
What exactly is an incubator? An incubator such as Niswander's nourishes new startups until they are strong enough to function on their own and leave the protection of the organization.
Plans for the project were announced earlier this spring, and the program was launched Aug. 31 to support new businesses in their fragile beginning stages.
The incubator is composed of fashion, film, finance, food and health companies, all of which play an essential role in Manhattan's economy. Though they are all extremely varied in their marketing products, each business has an element of innovation and creativity that make them stand out, Niswander said.
According to Niswander, NYU-Poly selected 27 companies from around 300 applicants based on what would most benefit Manhattan's economy. NYU-Poly offers the companies mentor services, business seminars and networking opportunities.
"I think its fantastic that NYU-Poly stepped up to do this," said David Hochman, executive director of the Business Incubator Association of New York State, Inc.
According to Resk 'Que, CEO of the iConcept Media Group, will be a part of the new incubator. His company applied to the project because emerging businesses often have a difficult time launching and staying afloat in the current economic state.
The business incubator will also offer internship opportunities for NYU-Poly students.
Startup companies are interested in "tapping into talented college students, who can help do day-to-day activities," Niswander said.
Murat Cannoyan, CEO of PatientPlus, one of the businesses in the program, said the atmosphere in the offices is friendly and peaceful.
"People all around you share stories and advice," Cannoyan said.
The incubator will be enlarged this fall for a few more startup companies.
Mayor Michael Bloomberg announced last month plans to create four additional incubators, two of which NYU-Poly has already expressed interest in leading.