Renewable Energy Incubator Launches in Rochester

July 06, 2004 by Jeff Shepard

Leaders of the New York State Energy Research and Development Authority (NYSERDA); High Tech Rochester, Greater Rochester Enterprise (GRE); and Rochester Institute of Technology announced the formation of the Renewable Energy Network of Entrepreneurs in Western New York (RENEW NY), which is a collaborative effort focused on identifying, incubating and creating renewable energy companies in Western New York. Renewable energy sources include wind, hydro, solar, biomass and geothermal power.

The incubator's goal is to create a cluster of renewable energy companies in Western New York, defined as the geographic region west of Interstate 81, including the areas of Syracuse, Binghamton, Ithaca, Corning, Rochester and Buffalo. One of its primary goals is to market these firms to other companies throughout New York State, both for potential partnership opportunities and for business transactions. It will also assist firms in reaching out to a broader audience out of state.

The incubator will create a catalogue of renewable energy companies and resources in the region and establish an inventory of all the clean-energy intellectual property available in the area. It will also match entrepreneurs with seed capital; assist with grants; provide coaching, mentoring, education and training; offer networking opportunities; and raise overall awareness of renewable energy companies in Western New York.