With the nearest technology incubators in Albany and New York City,
there are few places in New York State where fledgling companies can
begin their business and gain mentoring support. The Hudson Valley
Center for Innovation, Inc. (HVCFI) has been created to provide that
support and focus on economic development of the Hudson Valley region.
Our ambition is to:
- Create jobs
- Help start-up companies get established and organized through
mentoring
- Once established, help those companies employ people.
Thanks to the support of business and economic development agencies,
academia, and the Hudson Valley investment community, two powerful
not-for-profit Hudson Valley business entities, the Ulster
County Development Corporation (UCDC) Ulster County’s lead economic
development agency (www.ulsterny.com), and the Hudson
Valley Technology Development Center, Inc. (HVTDC) (www.hvtdc.org), collaborated to
create a business incubator designed to foster the growth and development
of emerging, high value businesses and technology development firms,
and the creation of high-value jobs in the Hudson Valley region.
HVCFI creators believe that the benefits of our Enhanced Services,
full-time Executive Mentoring Team, Management, Board of Directors,
and Board of Advisors could reduce the ‘typical’ incubation
period for an emerging company from 4 to 6 years to 2 to 4 years.
Headquartered in the Hudson Valley Business Center in Kingston,
New York, HVCFI’s ambition is to establish physical
and virtual satellite facilities during the next 4 to 6 years throughout the
Hudson Valley counties of Ulster, Orange, Dutchess, Sullivan, Putnam,
Rockland, Westchester.
Our Distinctions
HVCFI differs from standard business incubators that provide physical
space, shared administrative services, and part-time volunteer
executive mentoring. We offer enhanced services we believe will
increase the number of jobs created; reduce
time needed for a company to become self-sustaining; plus increase
the probability of that company‘s sustained performance
over time.
In addition to our professional business environment, HVCFI offers
its member companies:
- Access to a world-class Board of Directors comprised of business
leaders from within and outside the Hudson Valley.
- Access to
a Board of Advisors consisting of members of academia, technology
related business, finance, industry specific consultants and
our in-house Executive Mentoring Team.
- Access to a full-time Executive Mentoring Team of technology
executives who are currently holding "C" level
positions.
- A Managing Director who is an experienced entrepreneur
active in product development, marketing and business development.
- Affiliations
with academic institutions and incubators within New York State
and around the world.
- Non-equity membership via an industry unique concept to
support our members’ goals for reaching optimum
success.
Our Focus
The Hudson Valley Center for Innovation, Inc. (HVCFI) has been
created to re-establish technology development in the Hudson Valley
region. It has been created as a regional location where fledgling,
innovative businesses can gain support from an exceptional pool of
highly intelligent and accomplished business professionals from throughout
every county in the Valley.
HVCFI’s focus includes:
- Attracting start-up, pre-revenue technology oriented
businesses from any county in New York State, and help them get
established.
- Provide Executive Mentoring services to those companies.
- Help them establish their companies in the Kingston, New York
area.
- Connect those fledgling companies with large companies
and corporations across New York and nationwide that
would be interested in the products and services they
are creating.
Future Goals - Satellite Facilities
HVCFI is envisioned to serve 25
companies/year in 5 to 6 permanent and virtual satellite facilities. Starting with 5 incubating companies
during the first year (2006) in Kingston, we intend to add 10 additional
companies within the following 2 to 3 years (2007 and 2008).
While Kingston is HVCFI’s headquarters location, six
permanent and virtual satellite facilities are planned throughout the Hudson
Valley for a complete Center network. These facilities will be smaller
than the main headquarters, and capable of housing four to eight
firms/facility.
Each satellite will be connected via high-speed data, audio and
visual communications links to HVCFI headquarters for hands-on personal
attention and a physical connection to headquarters. In addition
to the physical satellites, virtual facilities with high-speed data
links for video conferencing will also be considered. Each HVCFI
Member at a satellite facility will receive the same one-on-one guidance
from the Executive Mentoring Team.
The collaborative environment and social network components of HVIC
are of critical importance for the overall success of this business
incubator. Conferences and demonstrations will therefore be planned
for attendance by Members of each satellite facility in order to
exchange ideas, knowledge and foster collaboration.
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