Startup U: NYC’s Booming University Incubator Scene is Driving Innovation
Whether seeking prestige or profit, New York’s top universities are schooling new entrepreneurs in the art of growing a company
- Sage Lazzaro, John Bonazzo, and Brady Dale for The Observer November 11th, 2015
- Source: http://observer.com/2015/11/startup-u-nycs-booming-university-incubator-scene-is-driving-innovation/
New York’s booming tech scene is a strong second to Silicon Valley and getting stronger. There are several reasons for this, but one factor deserving credit is the influx of business incubators supporting local innovators. According to the National Business Incubation Association, the number of incubators in New York State now stands at 282, roughly a 40 percent increase in the last three years.
Incubators nurture new companies, providing resources like funding, mentorships, training and workspace, while usually taking little to no ownership stakes in the burgeoning companies.