Building on decades of successful efforts to nurture new businesses and bring ideas from classrooms and labs to the marketplace, Rensselaer launched, in February 2011, a distributed incubation program to help young businesses grow and succeed: the Emerging Ventures Ecosystem (EVE).
The Emerging Ventures Ecosystem builds on more than 30 years of the Institute’s previous incubator program, the nation’s first such program wholly sponsored and operated by a university.
Capital Region companies ranging from MapInfo to successful video game company Vicarious Visions grew out of the previous incubator.
EVE has a particular focus in areas of Rensselaer’s signature research strengths and helps start-up businesses take root in Troy and the Capital Region.
Once a new company completes the application process through which Rensselaer will determine, in part, whether the entrepreneur is willing to put in the effort to make the company successful the program will assign a status to the company: pre-seed, emerging, or early stage. Assigning these descriptions will help EVE mentors and administrators determine the specific services needed by each business.
The new EVE program utilizes an innovative distributed incubation model, maintaining a central office in the Rice Building (216 River St., Troy, NY) and working with each company to find an ideal matchup of space-to-enterprise in Troy and the surrounding area.