HAMILTON, NY— Colgate University’s Thought Into Action Entrepreneurship Incubator (TIA) and the Partnership for Community Development (PCD) will receive $625,000 in new grant funding during the next five years from the Empire State Development’s New York State Business Incubator Program.
This major funding will enable TIA and the PCD to hire a full-time staff member to support improving co-working programs, networking events, and expanded educational offerings in the 20 Utica Street location, and it will solidify the space as an official New York State Certified Business Incubator, the only designee this year for Cayuga, Cortland, Madison, Onondaga, and Oswego Counties.
“This is an absolute game changer for Hamilton, the PCD, and for Colgate,” said Associate Vice President of Institutional Advancement and Career Initiatives Michael Sciola.
The PCD, a nonprofit organization that works to enhance sustainable economic opportunity and community vitality in the village and town of Hamilton and the surrounding areas, will work in tandem with TIA to implement the grant.
“We are very excited about the implementation of this grant and the impact it will have on our community,” said PCD Executive Director Jennifer Marotto Lutter. “The PCD has worked very hard over the years to create a favorable entrepreneurial ecosystem, and the expansion of co-working incubator services and staffing will take us to a new level.”
Colgate’s TIA initiative, now in its 10th year, applies the liberal arts to entrepreneurship. Since its inception, TIA has helped 528 entrepreneurs to develop 349 ventures. Last year, TIA opened its Utica Street location as a co-working space for local entrepreneurs not affiliated with Colgate. This low-cost alternative to renting an office also provides Hamilton-area startups with access to Colgate’s entrepreneurship program and mentors.
“The goal of the partnership between TIA and the PCD is to create an entrepreneurial ecosystem that extends beyond the village and town of Hamilton, with the incubator serving as the hub,” said TIA Director Mary Galvez. “With this grant, we want to provide resources for anyone who has an idea for a business, has just started a business, or is looking to expand or innovate an existing business.”
If you are a small business owner, or have an idea that you would like to turn into a business, and are interested in the co-working space, contact hamiltonpcd@gmail.com or visit hamiltonpcd.org for more information.