Niagara University’s Niagara Global Tourism Institute announced the affiliation of its emerging TReC incubator with the Business Incubator Association of New York State Inc.
BIA/NYS currently has more than 50 dues-paying organizational members that operate more than 90 distinct incubator facilities and virtual business incubation programs statewide. This represents the majority of the active business incubators in New York and spans general purpose, technology, microenterprise, and wet-lab bioscience facilities. Members include incubators associated with both public and private universities, regional nonprofit economic development organizations, and for-profit incubators.
“We couldn’t be more pleased to be part of the Business Incubator Association of New York State. Our affiliation with the incubator association opens up Niagara County and its entrepreneurs to a host of resources not previously available to our area,” said Patrick Whalen, director of the NGTI. “This is especially important for the City of Niagara Falls, as the unprecedented overhaul of its downtown is setting the stage for a local economic renaissance.”
TReC, located at 616 Niagara St., Niagara Falls, is a co-working incubation space with a mission to help would-be entrepreneurs formulate ideas and launch businesses. Operated by the Niagara Global Tourism Institute, TReC anchors a transformational live-work-play redevelopment of historic buildings in Niagara Falls. A ribbon-cutting ceremony to officially launch the incubator was held Monday.
TReC’s tourism-technology focus is a unique asset in WNY designed to magnify the region’s existing momentum in the entrepreneurial and tourism fields. TReC works directly with entrepreneurs starting a new company from conceptualization to their eventual establishment in the community, and provides startup companies with full suite of services, including business plan development and implementation, mentoring, and guidance with legal and financial matters.
“As economic development practices have changed to focus on nurturing small businesses from their earliest stages, we felt that it was imperative for Niagara County to have a place where entrepreneurs can get the best help possible in taking their ideas for a new company from the drawing board to the real world. Becoming part of BIA/NYS helps us do just that,” Whalen said.
"We are pleased to welcome the Niagara Global Tourism Institute’s TReC into our membership,” said Marc Alessi, executive director of BIA/NYS. “Having a facility that focuses on tourism-related companies is relatively unique to the incubator movement, and having it right at one of the most world-renowned tourist destinations in the world makes this project that much more exciting. We look forward to working with Pat, Roscoe, and their team to boost the entire ecosystem statewide, and specifically add to the economic revitalization of the larger Niagara region."
TReC has hit the ground running, already having hosted the International Business Innovation Association 2019 eBuilders Forum on Oct. 3-4. The conference brought more than 100 business incubation professionals from around the world to Niagara Falls.
As part of Niagara University, the NGTI is an initiative focusing on collaborative partnerships between the public and private sector to enhance the regional tourism product and global competitiveness.
The Business Incubator Association of New York is a nonprofit trade association established in 2005 as a tax-exempt under IRC 501(c)(6). It is governed by a nine-member board of directors elected by the general membership.