The Tech Garden at Five: Much Accomplished, More Remains to Be Done

December will mark the fifth anniversary of the opening of the Syracuse Technology Garden incubator, a program of the Greater Syracuse Chamber of Commerce. The building and its associated programs have had one focus - to foster the growth of high-tech entrepreneurial businesses in Syracuse and the surrounding region. As it approaches this key milestone, it is worth pausing to acknowledge the program’s achievements and assess future directions.

Today, the core incubator hosts nearly 30 companies, which employ over 100 people, and have an aggregate annual payroll of approximately $5 million. These companies are high quality, well-paying opportunities for people with strong academic and technical credentials, and their location downtown continues to support nearby establishments throughout the business district.

In addition to creating local jobs, the incubator has attracted talent from across the United States as well as from Israel, Ireland, and the United Kingdom. Several of the resident companies have successfully raised more than $5.5 million in funding from local angel investors and international venture capital sources.

From the beginning, The Tech Garden has strategically built connections between Syracuse and a much larger geography, positioning the program to be at the center of Upstate New York’s technology entrepreneurship community. For every company resident in the incubator today, The Tech Garden staff has assisted 10 that are not located downtown. The roster of Tech Garden affiliated companies includes startups from Long Island to Buffalo, and all points in between.

The Tech Garden has also helped strengthen Upstate networks by linking growth capital and incubation support services. In addition to regularly hosting venture capital providers who invest in Upstate, The Tech Garden was instrumental in the creation of statewide networks for angel investors and business incubators. Tech Garden executives also serve on the boards of the Upstate Venture Association of New York (UVANY) and the Business Incubator Association of New York State (BIA-NYS). Finally, in 2007, The Tech Garden helped launch the Seed Capital Fund of Central New York, an LLC with 42 angel investor members who have, to this point, invested in six technology startups.

Finally, the facility itself plays a critical role as it serves as a gathering point for those interested in participating in entrepreneurial activities as investors, team members, advisors and cheerleaders. Each year, the building hosts events (public functions and private meetings) that draw more than 3,000 people from the local community as well as across the state.

While it is clear that The Tech Garden has achieved many of the early goals set by the Chamber’s Entrepreneurial Council, much more remains to be done if we are to see entrepreneurs becoming the bedrock of a new Syracuse economy and the drivers of downtown vitality. Two initiatives that are now under way hold significant promise in terms of creating a larger number of startup companies for our region - the Syracuse Student Sandbox and The Clean Tech Center.

The Syracuse Student Sandbox is a collaboration of The Tech Garden and Syracuse University to develop early stage student-led businesses. After learning the basics of entrepreneurship, and coming up with ideas that can create business opportunities, these young entrepreneurs have an opportunity to spend the summer months at The Tech Garden where they receive the advice of local business professionals as well as resources from alumni interested in promoting their success. First piloted at Syracuse University, the courses and Sandbox opportunity are now being offered to five other local institutions (Le Moyne College, SUNY ESF, SUNY OCC, SUNY Cayuga Community College, and SUNY Morrisville). The program, while still in the early stages, holds significant promise as a mechanism for retaining smart, high achieving students in our community and benefiting from their entrepreneurial drive and business success.

The Clean Tech Center is a NYSERDA-funded partnership of The Tech Garden, Center of Excellence in Energy and Environmental Systems and the MDA. This initiative is focused on developing, incubating, accelerating, and retaining clean technology companies in Upstate New York. Primarily focused on renewable and alternative energy, transportation technologies, and smart grid technologies, The Clean Tech Center works with companies to develop products and services that harness renewable energy sources, reduce the carbon footprint, and advance sustainability.

Once admitted to the program, companies receive start-up support such as assistance associated with proof of concept, development of prototypes, testing, validation, licensing and IP protection.

The Clean Tech Center collaborates with academic and industry leaders, angel and venture investors, financial institutions, service providers, utilities, industry associations and government agencies at a local, state and national level.

Given the region’s extraordinary asset base and the depth of expertise of project partners, The Clean Tech Center intends to be a model for “green innovation.” 

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