Business Development Funding


The following resources provide early-stage funding for new business development. Faculty members are encouraged to work through the vice president for research and/or technology transfer office at your campus if you believe you have an idea for a business you would like to develop. 


Venture Capital Funds

Venture capital funds are pooled investment vehicles that primarily invest the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans.

  • Adirondack Venture Fund, Lake Placid
  • SCP Buffalo Incubator, LP*


Angel Associations

Angel investors are “high net worth individuals,” usually accredited investors who invest their own funds in private companies, typically at the seed and early stages. A growing number of angels are joining organized groups to achieve competitive returns on early-stage investments.

  • TVAN (Tech Valley Angel Network), Albany


Federal Agencies

The U.S. Small Business Administration runs two programs that assist in new business development: 

Small Business Technology Transfer Research (STTR)
STTR expands funding opportunities in the federal innovation research and development arena. Central to the program is expansion of the public/private sector partnership to include the joint venture opportunities for small business and the nation's premier nonprofit research institutions. 

Small Business Innovation Research (SBIR)
SBIR is a highly competitive program that encourages small business to explore their technological potential and provides the incentive to profit from its commercialization. By including qualified small businesses in the nation's R&D arena, high-tech innovation is stimulated and the United States gains entrepreneurial spirit as it meets its specific research and development needs. 


NYS Agencies

New York State has three entities that assist in new business development.

*Innovate NY funding