Brad Treat, STSA Entrepreneur in Residence
Dr. Alan Rae, Executive Director at IncubatorWorks
Laura Holmes, Program Associate Entrepreneurship and Innovation Partnerships, Binghamton University
Mike Driscoll, Business and Technology Advisor, Binghamton University
Stacey Duncan, Deputy Director of Communications and Business Development at (The Agency Broome County IDA/LDC)
The Southern Tier Startup Alliance is a member organization of business incubators in Binghamton, Ithaca, and Corning, whose purpose is to provide support to entrepreneurs starting and growing businesses in the Southern Tier. Its objective is to help increase the number of jobs in the region by diversifying the employment base and strengthening the economy. The STSA is backed by a strong partnership between Binghamton University, Corning Enterprises, Cornell University and regional partners.
(Run time: 01:46:26)
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Binghamton University Downtown Center, Room 220
Lisa Altman (Binghamton University), James Baumgartner (Nagare Consulting), Scott Bowen (Binghamton University), Steve Campbell (Morgan Stanley), Michelle Catan (SBDC), Ryan Ann Cornish (Doubletree), Donna Fish (Donna M. Fish & Associates), Kathryn Fletcher (Ad Elements), Adam Flint (Binghamton Regional Sustainability Coalition), John Flynn (Broome County), Howard Garrity (U. S. Small Business Administration), Scott Hancock (Binghamton University), John Hayek (Southern Tier Opportunity Coalition), Janet Hertzog (SUNY Broome Community College), Marion Irwin (McKinney), Ken Kamlet (Hinman, Howard & Kattell, LLP), Bob Kot (Launch NY), Darren MacDonald (Southern Tier Capital Fund of NY), Michael Marinaccio (Town of Dickinson), Dan McCormack (Binghamton University), Alan Michaels (Industry Building Blocks), Jim Penwell (Streeter Associates, Inc.), Beth Polzin (Binghamton University), William Ritter (SCORE Upstate NY), John Saraceno (Keystone Associates Architects, Engineers and Surveyors, LLC.), Tom Schryver (Southern Tier Startup Alliance (STSA), Jeff Smith (Endwell Rotary), Jesan Sorrells, (Human Consulting and Training), Mike Straight (STREDC/NYSERDA), Tim Sweeney (Peak Ecommerce), James Whitmore (Liquid Karma Record Label LLC), Mary Whitmore (Liquid Karma Record Label LLC)
- T. Kowalik called the meeting to order.
- Brad Treat, STSA Entrepreneur in Residence provided an overview of Southern Tier StartUp Alliance. He discussed the types of businesses STSA is looking to serve. These included
- High Growth Potential
- Businesses Solve Problems
- Save money
- Make something more convenient
- Faster action
- Hedge against risk
- Solve a problem not core to my business
- Information is valuable
- This business has been successful in one place, but not recreated in others
- Going Green
- Brad then gave examples of regional businesses currently being served by STSTA.
- Dr. Alan Rae, the Executive Director at IncubatorWorks discussed the need for Incubation. We need to re-stimulate manufacturing in the Southern Tier to combat outmigration and other economic issues. We need to encourage well-paid skilled jobs that stay in the area. Growth for small companies is difficult especially in rural areas due to lack of resources and support systems, lack of right-sized, lack of right-priced space, and lack of access to programs.
- Dr. Rae highlighted NBIA Statistics showing that, “After five years, businesses that were nurtured in a business incubator have a survival rate of 87 percent. By comparison, the survival rate for companies that go it alone without the benefits of incubator support is 44%.” (Kitts told BusinessNews Daily).
- “Equally important, said Kitts, is that 84 percent of companies that graduate from an incubator stay in the communities where they were incubated.”
- Alan highlighted that IncubatorWorks is the only manufacturing focused incubator system in the region!
- Laura Holmes, Program Associate Entrepreneurship and Innovation Partnerships at Binghamton University discussed innovation at Binghamton University. She describe several programs currently in place, e.g., Entrepreneurship & Innovation Partnerships, Startup NY Program, Incubators and Start-Up Suite.
- Mike Driscoll, Business and Technology Advisor at Binghamton University, provided an overview of the NYS Small Business Development Center and a the strong role within the STSA the Small Business Development Center is playing, e.g., linking the SBDC and Start-up Suite this summer.
- Stacey Duncan, Deputy Director of Communications and Business Development at The Agency Broome County IDA/LDC described the acquisition of the former Broome County Incubator and its relocation, redevelopment and rededication as The Center (59 Court Street, Suite 202, Binghamton, NY 13901).
- Some attributes are: access to Entrepreneurs in Residence and other mentors, a printing room, Wi-Fi, corporate mailing address, communal space, and access to workshops to help accelerate growth.
- Located in the heart of downtown Binghamton with access to the urban energy, coffee and a melting pot of ideas, The Center may be the best ‘first’ starting place for you and your ideas.
- Extended Q&A session followed among attendees. T. Kowalik reminded everyone that the McKinley cafeteria was open for those who wished to eat lunch in the facility. Meeting adjourned.
The next meeting will take place on October 1, from 10:00am – 12:00pm at the Binghamton University, Downtown Center, Binghamton, New York.