UB Receives $1.5M to Establish Clean Energy Business Program
The New York State Energy Research and Development Authority (NYSERDA) announced an award of $1.5 million to the University at Buffalo Office of Science, Technology Transfer and Economic Outreach to establish a clean energy business incubator program that will provide business support to accelerate the successful development of early-stage, clean energy technology companies in Western New York.
UB’s program, Directed Energy, is designed to utilize the technical expertise of scientists and engineers at the university with the business development skills of the university’s Technology Incubator in order to foster clean energy companies and job growth in Western New York. NYSERDA funds are intended to assist companies throughout the incubation process, and to develop a financially self-sustaining program that makes Western New York a regional center for developing clean energy technologies.
“We are creating a regional foundation for a healthy green economy in Western New York,” said Martin Casstevens, business formation and commercialization manager for the UB Office of Science, Technology and Economic Outreach (STOR) and director of Directed Energy. “This is just the beginning of a long-term program to concentrate resources and technical skills to grow alternative energy businesses in Western New York. We have programs to assist local energy companies, energy entrepreneurs and scientists to develop sustainable clean energy technologies.”
