Venture Creations, the high-tech incubator at the Rochester Institute of Technology, has won a four-year contract worth $1.8 million from the New York State Energy Research and Development Authority.
The money is earmarked for fledgling clean-energy companies; Venture Creations has worked with startup companies in wind, solar, biofuel, fuel cell technology as well as energy storage and smart grid initiatives.
“Venture Creations takes great pride in supporting clean-energy companies,” said Richard Notargiacomo, incubator director. “We have been working with these uniquely innovative and creative businesses for nearly nine years, and we have emerged as one of the premier incubators in the state for providing valuable resources and one-on-one coaching to those companies in this market.”
Twelve of the 38 companies that have graduated from Venture Creations have focused on clean energy.
“With this continued commitment from New York state,” Notargiacomo said, “we are fortunate to be able to continue to provide our clean-energy companies with the tools they need to help them advance their businesses, and produce a viable future that we can all feel good about.”
In a prepared statement, Alicia Barton, president and CEO of NYSERDA, said, “Gov. Cuomo has made clean energy and job creation a priority, and New York’s incubators provide vital support for these efforts.”
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