Four new companies approved for START-UP NY via UB
Release Date: December 29, 2014
BUFFALO, N.Y. – Four more companies affiliated with the University at Buffalo have been approved for START-UP NY, the innovative economic development program created by Gov. Andrew M. Cuomo.
The companies — which will relocate to, start up or expand on or near UB’s campuses — expect to create 130 jobs and invest $5,175,000 million in the region during the next five years. Each company has ties to the university’s academic and research strengths, and each will collaborate with UB faculty researchers and students, and offer internships, scholarships or jobs to students.
“The addition of these companies to START-UP NY is further affirmation that this innovative program led by the governor is thriving in the Buffalo Niagara region,” said UB President Satish K. Tripathi. “The program is bringing talented professionals to our region and providing opportunities to those already here. It is a terrific benefit to UB’s academic enterprise.”
START-UP NY stands for SUNY Tax-free Areas to Revitalize and Transform Upstate New York. The statewide program aims to spur economic development by enabling universities to identify areas where new and expanding businesses can operate for 10 years without paying New York State business, corporate, income, sales or property taxes, or franchise fees.
Since Cuomo announced the program, 24 companies (including the four announced today) have agreed to move to or expand in the Buffalo Niagara region and work with UB to further their businesses.
The four newest companies are:
- GradFly – An existing company that has developed Web and mobile platforms for science, technology, engineering and mathematics (STEM) students to create and showcase digital portfolios, allowing them to document and manage their projects in a single location. The company, which expects to create 15 jobs and invest $45,000, will open an office in the Thomas R. Beecher Innovation Center on the Buffalo Niagara Medical Campus. The company will continue to offer internships to students from UB’s Department of Computer Science and Engineering and will collaborate with UB’s Center for Advanced Biomedical and Bioengineering Technology and the School of Management.
- ID Federator – A startup company that provides hosted Identity and Access Management (IAM) services and a hosted social login IAM service called Chameleon Identity to website owners. These products, which enable businesses to manage electronic identities, are designed to increase security and productivity. The company, which expects to create 43 jobs and invest $75,000, will open an office in UB’s Gateway Building downtown. The company plans to offer internships, hire UB graduates with Web design skills, and collaborate with UB’s Center for Relationship Marketing, the Center for Unified Biometrics and Sensors, and the Center for Computational Research.
- Illuminating Diagnostics – A startup company developing novel diagnostic tests to allow doctors to rapidly detect microbial pathogens. The company, which expects to create 32 jobs and invest $1.2 million, will open an office in the Biosciences Incubator at UB’s Clinical and Translational Research Center on the Buffalo Niagara Medical Campus. It will offer internships and expects to hire UB graduates.
- Nuenz Inc. – A subsidiary of New Zealand-based Nuenz Ltd., this company manufactures nanofiber materials that make other materials stronger, lighter and durable. Its products can enhance the performance of metals, ceramics and polymers. The company, which plans to open an office in UB’s Baird Research Park in Amherst, expects to create 40 jobs and invest $3.8 million. It will offer internships to students from the School of Management and the Department of Mechanical and Aerospace Engineering. It will collaborate with UB’s South Campus Instrument Center and other research centers.
Editor's note: Illuminating Diagnostics and Nuenz Inc. are no longer affiliated with START-UP NY.