New York Medical College”™s new biotechnology business incubator was named one of five Innovation Hot Spots in the state in the round of regional economic development funding awards recently announced in Albany.
BioInc@NYMC, which opened this fall for entrepreneurs and startups in a renovated research building on the Valhalla campus, was named the mid-Hudson region”™s Innovation Hot Spot. New York Medical College officials said each hot-spot awardee will receive up to $250,000 annually in financial support from the state to expand their direct assistance to young firms, including legal, technical and business support services.
The Albany announcement came shortly after New York Medical College was added to the state”™s Start-UP NY program, which will yoke new businesses to academic institutions and their resources and specialties in tax-free zones on college campuses statewide. New York Medical College is the third school in Westchester County to join Start-Up NY.
