The Accelerator encouraging stronger venture capital legislation

Hello, everyone! Peter Gregory checking in to give an update on the Accelerator’s latest travels.

This past week, we visited New York City to take part in the Business Incubator Association of New York State (BIANYS) annual meeting at NYU-Poly in Brooklyn. David Hochman, Executive Director of BIANYS, and a perennial advocate for venture business, arranged speakers and panelists this year that painted a picture of the status of venture business in New York State. I met with numerous incubator directors and toured the 160 Varick Street incubator with Executive Director Bruce Niswander, in Manhattan’s SOHO district, that was literally buzzing with energy even late on a Friday afternoon.

Bruce Niswander, director, Office of Innovation Development and Centers for Entrepreneurship and Technology Transfer at BEST Incubator, NYU-Poly.NYU Polytech, 160 Varick Street, SOHO, Manhattan location – 17,000 sq feet of buzzing venture space!

NYU Polytech, 160 Varick Street, SOHO, Manhattan location – 17,000 sq feet of buzzing venture space!

The highlighted event of the annual meeting was a panel representating Empire State Development, New York State Economic Development Council, and Phillips Lytle LLP Capital Group. Discussion included outlook on Venture Capital in New York State, the competitive nature within the current venture incubation ecosystem in the Northeast and proposed legislation at the State level for new investment constructs to promote venture investment. Check out Martin Babinec’s and Nasir Ali’s new Upstate Venture Connect website – www.uvc.org – a site and a force for promoting innovative entrepreneurialism in NY State.

Panel Speakers with Bruce Niswander as moderator (right), Jerry M. Hultin, president of the Polytechnic Institute of NYU at podium.

We need to keep our eyes on Albany and let them know the importance of venture capital in a time when entrepreneurs need all the help they can get. We encourage the entire business community to make a statement and contact their local representatives in Albany, as well as in Washington DC. Entrepreneurial innovators need to let them know how important venture capital is in your business, and how more progressive legislation could help you grow.  

The Accelerator benefited greatly from this meeting as we broadened the base of contacts in the state startup ecosystem and learned about recent programs and initiatives that help accelerators/incubator clients. It was to also see long-time associates to keep abreast of the diverse incubation ecosystem existing in NY State. But the work doesn’t stop here. Help us help you grow your business! Keep your eye out for coming events and seminars at the Orange County Business Accelerator by becoming a fan of our Facebook page.

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