Accelerate Long Island is a unique collaboration among Long Island’s world class research institutions and its business community to commercialize research and create an entrepreneurial ecosystem.
NEW YORK TAX INCENTIVES
Hot Spot tax incentives are available to companies that have been certified for eligibility and are affiliated with dedicated incubation and entrepreneurial programs.
REGIONAL ECOSYSTEM
The Hot Spot partners also include (Broad Hollow Bioscience Park, Hofstra Universities ideaHUb, Long Island High Technology Incubator, New York Institute of Technology, and Stony Brook University.
They provide robust services for early-stage companies.
PROFESSIONAL SERVICES SUPPORT
ALI offers a network of professional services providers and partial reimbursement for approved HotSpot companies.
Henry “Hank” Foley, the president of New York Institute of Technology, was elected as a board member of Melville-based Accelerate Long Island, a collaboration of research
Accelerate Long Island was awarded $1.25 million in funding, over five years, from Empire State Development. ESD awarded the funding through round XII of New
Originally published: January 25, 2011 6:36 PMUpdated: January 26, 2011 8:58 AM The effort to produce businesses and jobs from the high-level research institutions on
Losing both young people and young companies is not exactly a prescription for a healthy Long Island economy. Now, at least, we’re on the verge of making
Originally published: March 17, 2011 6:48 PMUpdated: March 17, 2011 6:51 PM They said it couldn’t be done — getting the Big Five together in
How did Silicon Valley become Silicon Valley? Long Island business and political leaders are hoping to get some answers at a meeting Thursday with officials
The Accelerate Long Island Seed Fund was established by a $500,000 grant from New York State Empire State Development awarded in 2023 by the Long Island Regional Economic Development Council. The Accelerate Long Island Seed Fund made grants to ten portfolio companies in the biotech and energy sectors and those grants were matched by the Long Island Emerging Technologies Fund (LIETF), which includes Topspin Partners and Jove Equity Partners. The Accelerate Long Island Seed Fund was designed as very early stage funding for companies that are commercializing technologies and the portfolio has been very successful in securing follow-on funding. This fund is now closed. For information on applying to Accelerate New York Seed Fund, which also focuses on early-stage technologies, please visit www.ANYSeedFund.com.
The Accelerate Long Island Seed Fund was established by a $500,000 grant from New York State Empire State Development awarded in 2023 by the Long Island Regional Economic Development Council. The Accelerate Long Island Seed Fund made grants to ten portfolio companies in the biotech and energy sectors and those grants were matched by the Long Island Emerging Technologies Fund (LIETF), which includes Topspin Partners and Jove Equity Partners. The Accelerate Long Island Seed Fund was designed as very early-stage funding for companies that are commercializing technologies and the portfolio has been very successful in securing follow-on funding. This fund is now closed. For information on applying to Accelerate New York Seed Fund, which also focuses on early-stage technologies, please visit www.ANYSeedFund.com.
Codagenix, a Stony Brook biotech company, has closed on $322,000 in public and private funding, including the latest round from a coalition promoting Long Island startups.
The company, which digitally simulates viruses to produce vaccines, received $100,000 through a joint investment from Accelerate Long Island and the Long Island Emerging Technology Fund. Codagenix also won a $222,000 grant from the National Institutes of Health.
In total, Codagenix has raised $1.3 million this year. The company’s co-founder, J. Robert Coleman, said the investment from the Long Island groups is critical because it allows flexibility to spend the money on the company’s most advanced technology, which targets the influenza virus.
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Accelerate Long Island seeded its first batch of startups earlier this year, and today it has circled back with its latest investment – a company purporting to use computer tools to whip up synthetic viruses and create new vaccines.
Accelerate LI and its strategic funding partner, the Long Island Emerging Technologies Fund, have invested $100,000 total – $50,000 apiece in a biotech startup out of Stony Brook University called Codagenix. It’s the sixth investment made by Accelerate LI, the broad, non-profit initiative to commercialize technologies out of Long Island’s research institutions. Five of them, so far, have been life sciences companies.
The latest startup, Codagenix, founded by a group of current and former Stony Brook professors – Eckard Wimmer, Steffen Mueller, and Robert Coleman – has developed a way of making vaccines called “synthetic-attenuated virus engineering,” or SAVE. It’s a play on a traditional vaccine approach, called “live-attenuated vaccines,” in which viruses are weakened and injected into the body to help the immune system recognize foreign invaders. Codagenix instead uses computer algorithms to create templates of viruses with genomes that are altered in some specific way.
