A new university accelerator program is expected to pump hundreds of thousands of dollars into the local startup scene.
The University at Buffalo, with funding from state grants, will start this fall Cultivator, a startup accelerator program. The six-month-long program with 10-15 startup teams will run twice a year. About seven startups per session will receive a $100,000 investment at the end of the program, according to Christina Orsi, associate vice president for economic development.
The program is open to UB faculty, students, alumni and others associated with the university and will be held partly virtually and partly in-person at UB’s new Incubator @ CBLS facility on the Buffalo Niagara Medical Campus.
The university will start taking applications this fall. The accelerator is looking for startups that have high- or medium-growth potential, are dedicated to growing in Western New York and are scalable businesses with products or services that could export anywhere, Orsi said.
UB aims to continue to grow its entrepreneur engagement and services.
“Although it’s grown a ton, there’s still more opportunities there," she said.
