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UB Technology Incubator named top life sciences university incubator

Baird Research Park

The UB Technology Incubator, located in Baird Research Park, scored highly in the areas of talent retention, network enhancement and post-incubation relationships.

By CHARLOTTE HSU

Published June 20, 2013

“Being in an incubator can increase a startup’s chance of survival.”
Woody Maggard, director
STOR incubator program

The UB Technology Incubator has been named the world’s top life sciences university incubator by the University Business Incubator (UBI) Index, a Stockholm-based startup that provides expertise in starting and transforming incubators.

UBI made the selection after conducting 150 case studies of university business incubators in 22 countries.

The index looked at more than 50 performance indicators. The UB Technology Incubator scored highly in areas that included talent retention, network enhancement and post-incubation relationships, according to a UBI press release.

“By providing resources and valuable guidance to some of Western New York’s most promising new companies, we are helping to grow the region’s high-tech economy,” says Vice Provost Robert Genco, who oversees UB’s Office of Science, Technology Transfer and Economic Outreach (STOR), which administers the incubator.

The UB Technology Incubator, located in Baird Research Park on Sweet Home Road adjacent to the North Campus, rents office and laboratory space to emerging high-tech companies, including startups founded by UB students and faculty members.

The incubator’s mission is to provide an environment that assists companies in becoming independent, thriving businesses.

Tenants receive such services as:

  • Mentoring. Each client company works one-on-one with a mentor who has been successful in the company’s industry.
  • Seminars and training on topics like financial planning and capital acquisition.
  • Assistance in applying for federal research and development funding, or connecting with capital sources, including banks, venture capitalists, angel investors and corporate strategic partners.
  • Easy access to resources, including student interns, technical experts, library materials and faculty members with relevant expertise.

The incubator currently houses 13 companies. Since its inception in 1988, the facility has assisted more than 100 tenants and graduates, with 84 percent of those firms surviving for five or more years, according to the latest data available.

“Being in an incubator can increase a startup’s chance of survival,” says Woody Maggard, associate vice provost, who directs STOR’s incubator program. “We are proud of the work that we do. Startups don’t always have in-house expertise in legal, technical or financial matters, and our clients know that they can come to us for reliable advice and help in locating experts who can assist them.”

The UB Technology Incubator has worked with companies specializing in software, engineering, education, environmental technologies, pharmaceuticals and other fields. The university expanded its incubation program in 2012 with the opening of the UB Biosciences Incubator at the Clinical and Translational Research Center on the Buffalo Niagara Medical Campus.