Stony Brook University recently received $60 million in new funding to build a state-of-the-art Innovation and Discovery Center on its Research and Development Park campus. The center will include 200,000 square feet of new lab space at Stony Brook University as well as office space for startup businesses. The new funding comes from Governor Andrew M. Cuomo’s START-UP NY initiative, which aims to give businesses tax breaks to start up, relocate, or add new locations in New York by working with New York public and private universities.
“We have had incubators for the past thirty years on campus and so this is the next step to help retain some of those companies when they graduate from the incubator,” said Vice President for Economic Development and Dean of the College of Engineering and Applied Sciences, Yacov Shamash. “Rather than losing them to out-of-state, they can essentially move into this facility that will help tremendously in retention of companies that go through our incubators.”
So far, more than 100 companies have expressed interest in the new lab space at Stony Brook University offered at the Innovation and Discovery Center. Once the new funding allows for the center to be completed, the additional space will allow Stony Brook University’s existing five incubator facilities to take on more startup initiatives. Shamash explained what sort of companies to which Stony Brook University is interested in leasing the new lab space:
“We will want companies that benefit the campus, whether it’s doing joint research projects, whether it’s recruiting students to work as interns, those kinds of relationships are very, very important,” Shamash said. “Of course, keep in mind if we are able to help grow the economy, then clearly that’s in our best interest since we are a state school and it’s important for us to help the state of New York.”
Stony Brook University Hospital
Image courtesy of Wikimedia Commons
New funding at Stony Brook University is also plentiful in the form of grants from funding organizations such as the National Institutes of Health and National Science Foundation. In 2013, the NIH awarded Stony Brook University $51 million in science research funding. That same year, the NSF awarded Stony Brook $26.5 million in science research funding.
Stony Brook University allotted $135.8 million towards research in the university operating budget in 2013-2014. The university’s 1,039-acre campus on Long Island's North Shore includes a bioengineering building; a chemistry building; an earth and space sciences building; a life sciences building; a molecular medicine and biology building; two psychology buildings; and the Stony Brook University Hospital, which houses the Health Sciences Center, School of Nursing, School of Health Technology Management and School of Medicine.
Biotechnology Calendar, Inc. hosts annual life science vendor shows at Stony Brook University. Our BioResearch Product Faire™ Event at Stony Brook University is a great opportunity to market your life science solutions and will take place on October 2nd, 2014. Biotechnology Calendar, Inc. has been in the business of organizing life science vendor shows for over 20 years. If you are interested in exhibiting at a show closer to home, we encourage you to view our 2014 calendar of events. For more science research funding statistics on Stony Brook University, or to learn more about our Stony Brook life science vendor show, click on the button below.