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Partners in Growth and Innovation

Innovate 518 is a partnership between UAlbany, RPI and the Center for Economic Growth.

ALBANY, N.Y. (March 28, 2017) -- When it comes to growing business in the Capital Region, the Center for Economic Growth (CEG) has a longstanding record of success.

For institutions like the University at Albany, CEG offers a dedicated partner to help turn the ideas of entrepreneurial researchers into viable business models. This work is already underway through partnerships like Innovate 518, the Capital Region's Innovation Hot Spot, which orchestrates a robust and connected entrepreneurial ecosystem of incubators, accelerators, and support organizations to assist in growing sustainable and scalable technology ventures.

Innovate 518 is a partnership between the UAlbany, RPI and CEG, and is designated as a New York State Innovation Hot Spot by NYSTAR.

But the partnership between CEG and UAlbany doesn't stop there. The Unversity works with CEG to create learning opportunities through events like the recently completed SBIR (Small Business Innovation Research) Workshop at UAlbany. Held in the D'Ambra Auditorium of the Life Sciences Research Center, the event provided Capital Region small businesses the opportunity to learn how to fund ideas for innovation in research and new product development.

Not interested in business? The partnership extends to healthcare as well. On Monday, the Capital Region's new convention space, the Albany Capital Center, hosted the the first Population Health Innovation Summit. Sponsored by IgniteU NY and Innovate 518, the event brought together local and regional leaders in health and human services to discuss the intersection of information technology and population health data, and how it will power the delivery of vital healthcare and wellness services to New Yorkers.

Bringing together industry leaders and businesses with the academic institutions that provide the critical skills to be successful in the 21st century economy is just one of CEG's many specialties. But with its latest news CEG is primed for further stability, which will enable it to help the Capital Region thrive -- and by extension institutions such as UAlbany, Albany Medical Center and RPI -- far into the future.

CEG has reached a $6 million target for its ‘Accelerate’ capital campaign.

Launched in September, 2016, Accelerate is a five-year campaign and collaborative investment to accelerate and secure the region’s economic stability. The success of the campaign means CEG will be better positioned to promote the region to businesses and entrepreneurs across the country and beyond while also helping companies already rooted in the region thrive.

"CEG’s successful $6 million capital campaign under the leadership of Andrew Kennedy (MPA '07) marks the beginning of a new stage of advancement for not only this vital economic development organization but also for each of our region’s eight counties," said Laura Schweitzer, chair of the CEG board and UAlbany’s vice president for health sciences. "The region-wide team effort – from developing our economic blueprint to the Capital 20.20 Plan – laid the groundwork. And now regional leaders have shown their confidence by rallying behind CEG so it can help implement the plan. Together we will pursue a bold new future for the Capital Region’s economy."

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About the University at Albany
A comprehensive public research university, the University at Albany offers more than 120 undergraduate majors and minors and 125 master's, doctoral, and graduate certificate programs. UAlbany is a leader among all New York State colleges and universities in such diverse fields as atmospheric and environmental sciences, business, criminal justice, emergency preparedness, engineering and applied sciences, informatics, public administration, social welfare, and sociology taught by an extensive roster of faculty experts. It also offers expanded academic and research opportunities for students through an affiliation with Albany Law School. With a curriculum enhanced by 600 study-abroad opportunities, UAlbany launches great careers.