NYU-Poly Innovation Centers Named Among World's Top University Business Incubators

BROOKLYN, N.Y., Aug. 21, 2013 /PRNewswire/ -- In a new global benchmark report released by UBI Index, a Sweden-based research initiative, the Polytechnic Institute of New York University (NYU-Poly) centers of innovation were cited among the 20 best university business incubators in the world.

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The researchers studied 150 university incubators in 22 countries and measured their performance on 50 indicators, including job-creation capacity, ability to boost the economy, and level of success of graduated companies. The incubators at the top of the list were calculated to have generated almost three times as many jobs as the global average and graduated twice the number of clients receiving venture capital or angel funding.

The NYU-Poly Incubators—Varick Street Incubator, DUMBO Incubator, and the New York City Accelerator for a Clean and Resilient Economy (NYC ACRE)—were also recently named among the Top 10 Idea Labs in the U.S. by Worth magazine.

In an impact study conducted in late 2012, researchers calculated that NYU-Poly's incubators, the first of which launched in 2009, have generated more than $250 million in economic activity; by 2015, the impact is projected to be $719.8 million. Additionally, the study concluded that since 2009 the incubators had created 900 jobs, a figure that is expected to reach 2,600 by 2015. From 2009 to 2012, former and current clients contributed roughly $31.4 million in tax revenue to the economy.

Poly's newest incubator is expected to open in the fall of 2013. In partnership with New York City's Economic Development Corporation (NYCEDC), the Brooklyn campus will house the 10,000-square-foot Clean Technology Entrepreneur Center, whose 20 start-up clients will focus on solving urban challenges related to energy efficiency, sustainability, climate adaptation, and resilience. This newest incubator will be located at 15 MetroTech Center, a property owned by Forest City Ratner.

NYU-Poly operates the Varick Street and DUMBO Incubators in partnership with the NYCEDC; Two Trees Management is also a partner in the DUMBO Incubator. The NYC ACRE incubator is seeded by a grant from the New York State Energy Research and Development Authority (NYSERDA).

The Polytechnic Institute of New York University (formerly the Brooklyn Polytechnic Institute and the Polytechnic University, now widely known as NYU-Poly) is an affiliated institute of New York University, soon to be its School of Engineering. NYU-Poly, founded in 1854, is the nation's second-oldest private engineering school. It is presently a comprehensive school of education and research in engineering and applied sciences, rooted in a 159-year tradition of invention, innovation and entrepreneurship. It remains on the cutting edge of technology, innovatively extending the benefits of science, engineering, management and liberal studies to critical real-world opportunities and challenges, especially those linked to urban systems, health and wellness, and the global information economy. In addition to its programs on the main campus in New York City at MetroTech Center in downtown Brooklyn, it offers programs around the globe remotely through NYUe-Poly. NYU-Poly is closely connected to engineering in NYU Abu Dhabi and NYU Shanghai and to the NYU Center for Urban Science and Progress (CUSP) also at MetroTech, while operating two incubators in downtown Manhattan and Brooklyn. For more information, visit www.poly.edu.

SOURCE Polytechnic Institute of New York University