BUFFALO, N.Y. -- The University at Buffalo is partnering with
the Research Foundation for SUNY to offer a key benefit to startup
companies with UB ties: affordable insurance.
Through the SUNY-INC Insure Insurance Program (SUNY-INC Insure),
a new SUNY-wide program, certain UB-linked businesses will be able
to buy discounted liability and workers compensation insurance from
the insurer Amsure.
Qualifying companies include those located in the UB Technology
Incubator in Amherst, N.Y. or the UB Biosciences Incubator in
Downtown Buffalo; spinoffs formed to commercialize UB technology;
and startups participating in a UB commercialization program, such
as the UB Center for Advanced Biomedical and Bioengineering
Technology's funding program.
Companies are eligible for the program for the first three years
"Small companies often have a limited budget for a large number
of expenses, from patent costs to costs associated with research
and development," said Robert Genco, the vice provost who heads
UB's Office of Science, Technology Transfer and Economic Outreach
(STOR). "The ability to purchase affordable insurance through
SUNY-INC Insure will help new companies get off the ground."
SUNY-INC Insure will make it more attractive for new businesses
to partner with SUNY campuses, said Jeffrey Dunbar, director of
Dunbar worked with the Research Foundation for SUNY to develop
the program, and noted that insurance is critical for startups
hoping to grow and expand. He pointed out, for instance, that it's
difficult for companies to establish a board of directors without
adequate directors and officers insurance.
SUNY-INC Insure includes options for purchasing general
liability, product liability, directors and officers liability and
statutory workers compensation insurance.
To learn more about SUNY-INC Insure, qualified UB partner
companies can contact Kimberly Rohring, STOR business manager, at
About the Research Foundation for SUNY:
The Research Foundation exists to serve SUNY and to capitalize
on the scope, scale and diversity of SUNY as an engine of New York
State's innovation economy. The Research Foundation supports nearly
$1 billion in SUNY research activity annually, providing sponsored
programs administration and commercialization support services to
SUNY faculty performing research in life sciences and medicine;
engineering and nanotechnology; physical sciences and energy;
social sciences and computer and information sciences.
For more information, visit http://www.rfsuny.org or follow
the Research Foundation on Facebook at http://www.facebook.com/rfsuny.