Affiliated partners for startups, in Innovate 518, include incubators, accelerators, co-working spaces and community & entrepreneurial service providers. Each partner has a unique industry focus, expertise, clientele, and culture. At each incubator location, a plan is developed for each client as determined through the intake process. Company needs are documented, a strategy for addressing them developed, and then Innovate 518 and regional resources are mobilized to implement the plan. We live within a vibrant entrepreneurial ecosystem, and our mission is to connect startups with resources that may include:
These incentives provide for up to five years of corporate tax exemption in NYS in addition to sales tax refunds. The incentives are not available in conjunction with the similar tax incentives in the Start UP NY program, but meant to serve as a pathway into Start UP NY. For more information on Start UP NY, please visit www.startup.ny.gov.
To receive tax incentives through the Hot Spot program, companies must be certified and meet the following criteria and complete the below steps. To learn more about certification, contact Innovate 518.
*Note: Not all companies receiving services through an Innovate 518 affiliated partner program are eligible for tax incentives. The recommendation for tax incentives is made by the affiliated partner program in consultation with the Innovate 518 Operational leadership.