FOR IMMEDIATE RELEASETuesday, July 22, 2014
Kari Root Bonaro, BNMC, Inc.
BNMC, Inc. Now Accepting Applications for Seed Capital Accelerator Program, Sponsored by First Niagara BankProgram Designed to Support New and Growing Start-ups on the Buffalo Niagara Medical Campus
(Buffalo, NY – July 22, 2014) The Buffalo Niagara Medical Campus, Inc. (BNMC, Inc.) is now accepting wp-contentlications for its Seed Capital Accelerator Program, sponsored by First Niagara Bank. First Niagara has provided funding to support new and existing start-ups that are affiliated with the BNMC’s Thomas R. Beecher, Jr. Innovation Center or entrepreneurship programs.
The new fund will provide up to $10,000 in seed funding to enable start-ups to overcome short term business obstacles, and to reach project milestones that are designed to get products and services to market quicker – thus yielding measurable longer term returns on investment. Grants and loans will be awarded to businesses that have sustainable growth potential, a legitimate funding need, and are making a contribution to the social and business communities on and around the Medical Campus.
“This generous funding from First Niagara will allow us to further support the entrepreneurial ecosystem on the Medical Campus,” said Vic Nole, director of new business development for the BNMC, Inc. “We look forward to helping even more start-ups move from ideation to incubation, creating jobs and re-building our community.”
BNMC, Inc. will make available grants or loans to eligible business owners under the program for the following purposes:
- To purchase equipment or other capital goods.
- For operating expenses that are directly related to a specific revenue generating project.
- To acquire inventory required to satisfy a signed purchase order.
- To pay up to 50% of a new hire’s salary for up to 90 days.
- To pay for education, mentoring, or training for entrepreneurs and business owners that is directly related to the creation of a new business or the growth of an existing business within the Community.
The program will be directed to companies that are located on the Buffalo Niagara Medical Campus, or to companies (or entrepreneurs) that are being assisted with their formation and growth plans by the business development office at the BNMC, Inc. Specifically, grants will be provided to either:
- Revenue generating companies that sell goods and services,
- Community building companies that provide goods or services to persons on or near the Medical Campus, or
- Companies that need capital to deliver on projects for BNMC member institutions.
For program wp-contentlications please contact:
Vic Nole, Director of New Business Development, Buffalo Niagara Medical Campus, Inc.
Learn more at bnmc-old.local/seedcapital
About the Buffalo Niagara Medical Campus, Inc.
The Buffalo Niagara Medical Campus, Inc. (BNMC, Inc.) is a self-sustaining social enterprise successfully combining innovation, job creation, and urban revitalization. The BNMC, Inc. serves as the umbrella organization of the anchor institutions that make up the Buffalo Niagara Medical Campus located within the 120-acre campus bordering Allentown, the Fruit Belt and Downtown. The BNMC, Inc. fosters conversation and collaboration among its member institutions, its partners and the community to address critical issues impacting them, including entrepreneurship, energy, access and transportation, workforce and procurement, neighborhoods, and healthy communities, with the goal of increasing economic development and building a strong community.