The New York State Energy Research and Development Authority recently awarded three separate $5 million grants to educational institutions in New York State to create clean energy proof-of-concept centers (POCCs). PowerBridgeNY is the result of the collaboration of two of the awardee teams. One POCC led by Columbia University includes Brookhaven National Laboratory, Stony Brook University, and Cornell NYC Tech, and the other POCC led by the NYU Tandon School of Engineering includes City University of New York. These two POCCs have decided to work together to create PowerBridgeNY. As a joint center, PowerBridgeNY is better positioned to provide more support for all aspects of technical validation and company formation for early-stage clean energy technologies. In addition, the Center will be able to foster a more robust ecosystem around the clean energy sector in downstate New York.
The goal of PowerBridgeNY is to leverage clean energy innovations emerging from institutional research labs to create more and stronger energy businesses in New York State. PowerBridgeNY will identify promising early stage technologies and invest in translational work to advance these technologies towards technical validation. The Program will provide support to selected project teams for all aspects of company formation. This includes active mentoring and project management to aid in assessing the competitive landscape, developing a business plan, team building, and securing investors as well as financial investments from PowerBridgeNY to translational projects for prototyping and in-field testing studies. To further aid these emergent companies, PowerBridgeNY seeks to enhance the cleantech ecosystem in downstate New York by hosting a number of networking and educational events throughout the year.