New downtown space to host Venture Creations business incubator

Later this year, Rochester Institute of Technology’s Venture Creations business incubator will relocate from its John Street headquarters in Henrietta to 40 Franklin Street. The move will result in the incubators’ client companies becoming a part of Rochester’s Downtown Innovation Zone and completion is expected in December. Space will be established to create positive member “collisions” resulting in close collaborations. Plus, the move contributes to a university goal of having a presence in downtown Rochester.

Incubator coaches and staff members will be housed at the new location, along with 11 client companies and three graduate companies. The new business incubator space will be on the upper floors of the building, which also houses RIT’s Center for Urban Entrepreneurship.

First created in 2003, Venture Creations provides introductory services to incubating companies. Students, staff and faculty are involved in the development and operation of these companies. Venture Creations also promotes economic development in Monroe County and throughout the state by encouraging the transfer of technology resources to the marketplace. To date, the number of companies launched is at 42, with 559 jobs created.

Success of incubator companies has been clear from the Grow-NY food innovation and agriculture technology competition and 76West Clean Energy Competition, among others. Support for client companies includes advice on growth, marketing, business planning, human resources and legal affairs. Through the Venture Creations programs, client companies also benefit from quality coaching, professional consulting, and connections with industry representatives.