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Business Incubation Programs at NYSERDA

Business Incubation Programs at NYSERDA

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Business Incubation Programs at NYSERDA

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  1. Business Incubation Programs at NYSERDA Mike Shimazu Project Manager BIANYS Annual Meeting May 23, 2011

  2. About NYSERDA Innovation and Business Development Clean Energy Business Incubation Programs

  3. About NYSERDA Innovation and Business Development Clean Energy Business Incubation Programs

  4. About NYSERDA Mission: Advance innovative energy solutions in ways that improve New York’s economy and environment. Manage statutory funding for traditional product research, development and demonstration Current administrator of NYS Public Service Commission System Benefits Charge Program (New York Energy $mart) Renewable Portfolio Standard (RPS) Energy Efficiency Portfolio Standard (EEPS) Regional Greenhouse Gas Initiative Allowance Auctions

  5. Innovation Advance innovative energy solutions … Achieving New York’s energy policy goals requires innovation. 30 by 15 15 by 15 80 by 50 (!) Technology availability/affordability is at least as strong a driver as economic development.

  6. NYSERDA’s Budget

  7. About NYSERDA Innovation and Business Development Clean Energy Business Incubation Programs

  8. Commercialization Model Business Growth and Acceleration Opportunity Assessment Business Concept Feasibility Business Development & Planning Business Start-Up Business Scale-Up Technology Development Initial Concept Technology Feasibility Technology Development & Planning Commercial Start-Up Commercial Scale-Up

  9. Direct Support Programs Business Growth and Acceleration Opportunity Assessment Business Concept Feasibility Business Development & Planning Business Start-Up Business Scale-Up Business Growth Technology Development Initial Concept Technology Feasibility Technology Development & Planning Commercial Start-Up Commercial Scale-Up Manufacturing Product Development

  10. Infrastructure Programs Business Growth and Acceleration Opportunity Assessment Business Concept Feasibility Business Development & Planning Business Start-Up Business Scale-Up Business Incubators/Accelerators Business Assistance and Advice Technology Development Initial Concept Technology Feasibility Technology Development & Planning Commercial Start-Up Commercial Scale-Up Test Centers

  11. About NYSERDA Innovation and Business Development Clean Energy Business Incubation Programs

  12. Directed Energy Clean Energy Business Incubators Directed Energy (University at Buffalo STOR) Clean Energy Incubator (RIT Venture Creations) Cleantech Center (Syracuse Tech Garden) NYC-ACRE (Polytechnic Institute of NYU) iCLEAN (U Albany CNSE) Clean Energy Business Incubator Program (Stony Brook University)

  13. Incubator Program Background Two Competitive Solicitations PON 1216 (Category B) Statewide: 2009 Buffalo Rochester Syracuse NYC PON 1306 Capital/Mid-Hudson and LI: 2010 Albany Stony Brook

  14. Incubator Program Attributes Facilities-based programs Funding for programs, not buildings Provide long(-ish) term funding $1.5 million ~ 4 years Share startup risk Seek self sufficiency Pay for outcomes

  15. Milestone Payments ~$500k: Startup, marketing, administration Intake process documentation/forms Industry advisory boards Marketing materials Special events / projects Sustainability plan Reporting ~$750k: Client process milestones Intake documentation/assistance plans Business plans ~$250k: Client outcome milestones Private investment First product introduction Revenue milestones

  16. Supplemental Resources NYSERDA Entrepreneurs-in-Residence ~40 Experienced executives / C-level entrepreneurs NYSERDA Growth Capital Business Partners Outreach to global early-stage cleantech investors

  17. Leveraging Incubator Assets Statewide Cleantech Innovation Network Web-based information services/social networking Programming is key Proof-of-Concept Centers US EDA i6 Green Challenge Pending NYSERDA program

  18. Incubator Program Outcomes Expenditures to date: ~$2.7 million Client companies: 64 Client companies receiving NYSERDA funding: 12 New products introduced: 26 Private capital raised: $22.4 million Federal funding: $6.8 million New jobs: 94 Retained jobs: 165

  19. Summary NYSERDA is an instrument of NYS energy policy, with economic and environmental objectives The Clean Energy Business Incubators Program is a centerpiece of NYSERDA’s Innovation and Business Development effort So far, so good…..

  20. Thank You Mike Shimazu Project Manager mhs@nyserda.org www.nyserda.org/businessdevelopment BIANYS Annual Meeting May 23, 2011