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Ithaca Incubator Coming this Summer
Written By: Tanja Rekhi
ITHACA (WENY) -- Come this summer, the second floor of the Carey Building in downtown Ithaca will be transformed into a business incubator. Organizers are calling it the epicenter for success in the Southern Tier.
It'll give budding entrepreneurs a place to go to further develop their research and business plans.
"We want this to be a place where people are attracted to come and say 'I want to go there and work there because of the energy,'" said Tom Schryver of Cornell University.
The Incubator will give start-up companies a temporary home, including workspace, mentoring, and a place to network. The goal is for rising entrepreneurs to "graduate" through the incubator and be able to sustain themselves in the community. They can also be eligible for 10 years of tax benefits through Governor Cuomo's Start Up New York program.
"In the future many people will make a living by creating their own business, rather than working for another business and this is going to be a place that inspires them," Tom Rochon, Ithaca College President.
Ultimately, the Incubator will be two floors, with renovations totaling $3.5 million dollars. It's a one of five Innovation Hot Spot awards from the Regional Economic Development Council.
Cost of the inner workings will be covered by the owner, the three schools and tenants. You don't necessarily have to be a student or be affiliated with one of the schools to apply.
"This is a community project, not a Cornell project and we really want to set the stage for good ideas to come to the forefront," said David Skorton, Cornell University President."
Organizers are still working out details on the application process.