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NYSTAR Asset Highlight: Koffman Southern Tier Incubator

Nystar Asset Highlight: Koffman Southern Tier Incubator

As a NYS Certified Business Incubator funded by NYSTAR, New York State’s Division of Science Technology and Innovation, the Southern Tier Clean Energy Incubator Program has been raising funds for grants and investments since 2017, but in the last year has raised 93 million dollars, representing 75% growth just during the pandemic.

Michael Jagielski, Director of Clean Energy Programs, said “Right now for all intents and purposes we are filled… We are filled… Every office is filled and I don’t think that’s ever been done before… So being filled allows us now to really step up programming… When you are flushed with companies… You have to become flushed with ideas… I’m so impressed with the quality of the people we have onboard… And they are second to none…”

Imperium 3, who is set to open up a lithium-ion battery gigafactory in Endicott’s Huron Campus that will add over a thousand jobs to the area, is just one of the 38 businesses that are now involved with the Koffman Incubator.

Michael Jagielski theorizes that the growth is a combination of the Cuomo Administration’s Clean Energy Legislation, and a cheaper better place to do business during a pandemic.

Jagielski said “If they can find manufacturing here in local Binghamton region… Beautiful facilities for 3-4 dollars a square foot… Why would they pay 10 to 15 a square foot where they were… So there is a mass exodus of people moving to a better quality of life… I think”

Not every business is the size of Imperium 3, but that doesn’t mean their work is any less important. Take Natrion for example, a start-up working on a battery to improve lithium-ion battery technology.

Alex Kosyakov, Founder and CEO of Natrion, said “What we are doing is making a new component for manufacturers like Tesla and some others that essentially help make their battery products safer and more efficient… And really reduce the fire risk that they have…”

Natrion joined the incubator back in August and throughout the pandemic has noticed the growth, and has benefited from the resources being drawn into the incubator.

Kosyakov explained “As a small start up in such a difficult competitive space we’ve had every advantage we ever could have hoped for here…”

For more information on the Clean Energy Incubator you can visit https://southerntierincubator.com/sci/NYSTAR

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