FREDONIA – State Senator Cathy Young has announced she has secured $100,000 in funding towards operating the SUNY Fredonia Technology Incubator so it can continue to grow fledgling businesses and jobs. The money comes from the recently passed state budget.
Young noted that the incubator has been recognized as being highly successful in promoting regional economic growth and has the potential to play a large role in helping Chautauqua County and the region. She also said the appropriation demonstrates the commitment by New York State to the incubator.
The incubator offers its client entrepreneurs access to a unique facility, business resources, and technology expertise as well as a range of highly qualified faculty, technology experts, business professionals and mentors. Research shows businesses graduating from an incubator significantly increase their probability of long-term success. Companies typically spend two to three years in an incubator and then graduate when they meet milestones that allow them to operate independently and expand.
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