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Rensselaer Polytechnic Institute - Why not change the world?
Impacting the Capital Region *
Translating New Ideas
into New Business
* Introduction
Growing a Major Regional Enterprise
New Knowledge for a New Century
Translating New Ideas into New Business
Partnering for Success in an Ever-Changing Economy
Full Report: “The Impact of Rensselaer Polytechnic Institute on the Economy of the Capital Region and New York State” (PDF format)
For the past 25 years, Rensselaer has actively encouraged the translation of cutting-edge academic research into new products and new businesses. Rensselaer’s Incubator Center — one of the first university-based facilities of its kind in the United States — has since its founding in 1980 provided low-cost, flexible space and a wide range of business development services to more than 150 start-up companies. Of 120 companies that graduated from the Incubator between 1984 and 2000, 80 percent are still in business, with 75 percent of them located in the Capital Region.

The 1,250-acre Rensselaer Technology Park, located in North Greenbush, N.Y. provides room to grow for graduates of the Incubator and other young Capital Region companies. It also provides an attractive location for larger, more established firms. Today the Tech Park includes 1,000,000 square feet of industrial, office, and research space. It is home to approximately 50 companies employing more than 2,200 people, with an annual payroll of more than $100 million.

Rensselaer also contributes to new business development in the Capital Region by helping its students prepare for careers as entrepreneurs. Through courses in entrepreneurship, part-time employment or internships with start-up companies, and the annual Tech Valley Collegiate Business Plan Competition, students have multiple opportunities to get hands-on training in starting and running a business. Through its IdeaLab program, Rensselaer also provides on-campus space and support services to students who want to begin working on new ventures while still in school.

 
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