Policy Position: Green Tech Business Incubator Program
In New York City, Mayor Bloomberg assembled a coalition of public, educational, and nonprofit organizations to create a business incubator in lower Manhattan - low-rent space combined with technical assistance to help technology start-up companies get off the ground. The theory is that this boost of public/private assistance will bear fruit in the form of job growth and economic development.
People in the green technology industry tell us that there is a critical funding gap between the initial conception and design phase in the development of new technologies, and the point at which viable companies can attract the necessary venture capital to take their ideas to the marketplace. It’s only natural that entrepreneurs will flock to where their ideas stand the best chance of catching on, and where they will receive the most support and encouragement from the public and private sectors.
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