UB successfully nurtures economic development in 2016

Published January 23, 2017

In 2016, the University at Buffalo continued to leverage its research capabilities and expertise in building the region's innovation economy.

Highlights of the year

“Building on the great foundation, 2017 will be the year to grow our capabilities, industry engagement, technology commercializa- tion and overall impact.”
Christina Orsi, Associate Vice President for Economic Development
VPRED

The Office of Economic Development, the university incubators, the NYS Centers of Excellence in Materials Informatics, and Bioinformatics and Life Sciences as well as the Technology Transfer office led the efforts to achieve the following results: 

  • Offered program support to companies that created more than 250 jobs, hired more than 50 interns and licensed 12 UB technologies
  • Directly supported 26 industry research projects with faculty
  • Connected well over 100 companies to UB students and faculty
  • Filled UB incubators with startups
  • Buffalo Institute for Genomics and Data Analytics signed its first two industry partners and released the Genomics Data Warehouse
  • Won recognition by NYSEDC for the university's work on START-UP NY
  • Secured external funding including $50K SBA, National Grid grants and a new 5-year NYSTAR Innovation Hot Spot award of $250,000/year.
  • Developed a plan for UB’s biobank
  • Launched a successful new life sciences accelerator program, Critical Path, helping 10 companies secure the expertise they needed to be set for venture capital funding opportunities
  • Generated more than 27 positive news stories about UB’s economic development activity and impact
  • Touched more than 1,300 K-12 students, encouraging them to explore future careers as entrepreneurs or in life sciences or advanced manufacturing
  • Created an economic development strategic plan for growth