A Cleveland-based nonprofit with a record of success turning that community's medical research into high-tech businesses is joining forces with a consortium of 19 western counties in the state in an attempt to replicate the experience here.
JumpStart Inc. and the Erie County Economic Development Agency are the lead organizations of a project -- the Regional Entrepreneurship Action Plan -- that has received a $445,000 federal economic development grant and raised another $230,000 from area organizations and businesses.
As explained by Al Culliton, CEO of the ECIDA, the purpose of the project is to create a business plan that will give high-tech start-ups from Syracuse to Rochester to Buffalo access to the public and private capital and the management expertise necessary to turn research and ideas into profitable businesses. To get them, he said, "from the napkin stage to sustainability."
The creation of the partnership and the awarding of the grant from the U.S. Economic Development Administration were announced at a gathering Wednesday at the New York State Center of Excellence in Bioinformatics and Life Sciences at the downtown Buffalo Niagara Medical Campus.
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