UB, partners open new business incubator on medical campus
Friday, March 19, 2021
UB and partners on Friday morning officially opened the Incubator @CBLS, a new business incubator designed to spur innovation and entrepreneurism in downtown Buffalo.
Located in the Center of Excellence in Bioinformatics & Life Sciences (CBLS), the incubator is UB’s latest addition to the startup ecosystem on the Buffalo Niagara Medical Campus.
“UB has always been focused on using innovation to tackle society’s greatest challenges and contribute to the greater good. So it is wonderful to have this opportunity to further advance our mission of excellence,” said President Satish K. Tripathi, who toured the facility and met with startup companies that have moved into the space.
The incubator is one component of the larger Innovation Hub, a $32 million initiative funded by New York State through Gov. Andrew M. Cuomo’s Buffalo Billion initiative. Innovation Hub is a partnership among UB, Roswell Park Comprehensive Cancer Center, The Jacobs Institute, Hauptman-Woodward Medical Research Institute (HWI) and Kaleida Health designed to support startup formation and growth.
The new space contains 42,000 square feet of space, including co-working space, conference rooms, a high-tech event area, collaboration spots, dedicated office suites, a full kitchen and other areas. It’s designed so entrepreneurs can collaborate in an open workspace or rent a single dedicated desk, then scale up to full private offices as their teams evolve.
For life sciences and other companies in need of lab facilities, the Incubator @ CBLS features wet and dry labs, with extensive equipment and instrument access — amenities that are unique compared to other local incubators.
“The new incubator reinforces UB and Western New York’s role as a place where innovators and ideas are not only valued but also nurtured, fueled, funded and connected,” said Amanda Mays, Western New York regional director at Empire State Development and executive director of the Western New York Regional Economic Development Council.
Additionally, the incubator offers companies an extensive network of business mentorship, training and support. UB staff and entrepreneurs-in-residence will coach startups and make connections to faculty and technical experts, student talent, funding and investors, equipment and technologies, and business leaders.
Benefits and services for incubator tenants can translate into substantial cost savings, including the ability to operate tax-free through STARTUP-NY, which offers new and expanding businesses the opportunity to operate tax-free for 10 years on eligible university campuses, and access to legal services through the UB Entrepreneurship Law Center.
“For years, UB’s incubator in Amherst has supported Buffalo’s entrepreneurial ecosystem. The addition of a new incubator downtown enhances the opportunity to collaborate and connect our region’s bold thinkers, dreamers and doers to affordable membership, flexible space and short-term leasing options,” said Christina Orsi, associate vice president for economic development. “With a combination of facility, expertise, equipment and student talent, this is a unique place to help companies significantly accelerate their growth by moving their innovations from idea to market.”
Orsi, Tripathi and Mays thanked Innovation Hub’s partner institutions, which remained off site to reduce density and maintain health and safety protocols.
Entrepreneurs can explore incubation space and inquire now online.