SYRACUSE N.Y. (WSYR-TV)– State University of New York Chancellor John B. King Jr. helped announce Upstate Biotech’s Venture Fund to help start-up companies grow into greatness.
Upstate Medical University’s expertise in research has kept its studies growing.
Kathi Duron, the executive director of CNYBAC, shared that people who want to use the facility and resources can come from anywhere. “We have had individuals that have had one pipe fitter and devolved a heat sleeve because he was in a motorcycle accident and he had a son who had poor circulation,” Duron said.
By launching this fund, new medical products will kick off and students will be able to learn more and hopefully secure jobs that keep them in the region.
“We can hire key talent otherwise we wouldn’t be able to. We can expand operation in terms of laboratory operation as well as our production. We can accelerate our marketing activity. The investment fund is going to allow us to broaden our activity and grow at a rate we wouldn’t be able to,” said Duron.
An opportunity for Lorenzo D’Amico, the founder and CEO of Triton Bio, to help his start-up launch so he can hire key hire talent he otherwise wouldn’t be able to.
“We can expand operations in terms of laboratory operation as well as our production. The investment fund is going to allow us to broaden our activity and grow at a rate we wouldn’t be able to, said D’Amico.
Making a fund like this is an ingredient that is needed in the Upstate area, helping to grow the start-up community one step at a time.
