Project Will Include Facility Upgrades Allowing Program to Nearly Double Ability To Accept Additional Innovators Onsite
NYS Investments Supporting Next-Generation Advancements Complements Region’s Focused Comprehensive Strategy to Revitalize Communities and Grow the Economy
Photo of CNY Biotech Accelerator is Available Here
Governor Kathy Hochul today announced a renovation plan at SUNY Upstate Medical Center’s CNY Biotech Accelerator in Syracuse. The project, which will address a shortage of life science incubator space onsite, will include the renovation of existing space to construct and equip 1,809 square-feet of flexible wet lab space, 308 square-feet of cold storage, 526 square-feet of shared equipment space, and 548 square-feet of office and cubicle space. The addition will also allow the life sciences accelerator to facilitate up to 10 more early to mid-stage companies each year.
“This latest investment in the CNY Biotech Accelerator, reaffirms our commitment to leading the future of healthcare, helping to ensure that the next critical medical breakthrough happens here in New York State,” Governor Hochul said. “The entrepreneurs who are bringing their ideas to this supportive incubator are focused on advancing medical science, helping to drive our economy, and securing treatments and hope for those battling life-threatening diseases.”
Empire State Development President, CEO and Commissioner Hope Knight said, “Our continued support for Upstate Medical’s CNY Biotech Accelerator means that even more industry entrepreneurs will have the space they need to grow their innovations. By helping these next-generation thinkers bring their plans from concept to commercialization, we can promote growth and job creation within this dynamic ecosystem in Central New York.”
The CNY Biotech Accelerator entrepreneur facility provides an ecosystem aimed at supporting biotech startup companies serving the for-profit health tech, pharmaceutical, biologic, and medical device industries who are actively commercializing a biotech-related product or service. Over the last two years, the CNY Biotech Accelerator has had an economic impact of $65 million in the region, with its tenants creating 82 jobs.