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UPDATE for Life Sciences Companies from Empire State Development (ESD)

Objective
The Life Sciences Research and Development Tax Credit Program is designed to support new life sciences businesses locating, inventing, commercializing and producing in New York State.

Overview
Program Highlights
Program credits of $10 million per year can be allocated and used to encourage new businesses to conduct their research and development in the State.

Qualified life sciences companies may be eligible to receive a fully refundable credit based on qualified research and development expenditures incurred in New York State (NYS). The credit is 15 percent for a company that employs 10 or more persons and 20 percent for a company that employs 10 or less.

The credit is allowed for up to three consecutive years beginning with the first taxable year on or after January 1, 2018 during which the qualified life sciences company meets the eligibility criteria. The credit is capped at $500,000 per year for a lifetime cap of $1.5 million.

Eligibility
The Program is available to a new business entity that devotes the majority of its efforts to the various stages of research, development, technology transfer and commercialization related to any life sciences field.

Life sciences means agricultural biotechnology, biogenerics, bioinformatics, biomedical engineering, biopharmaceuticals, academic medical centers, biotechnology, chemical synthesis, chemistry technology, medical diagnostics, genomics, medical image analysis, marine biology, medical devices, medical nanotechnology, natural product pharmaceuticals proteomics, regenerative medicine, RNA interference, stem cell research, medical and neurological clinical trials, health robotics and veterinary science.

Research and development expenditures are defined as qualified research expenses of the federal research and development tax credit [Section 41(b) of the internal revenue code] incurred in New York State on or after January 1, 2018. Qualified expenditures do not include contract research expenses.

A qualified life sciences company must be a new business.

Application materials are now posted: https://esd.ny.gov/life-sciences-tax-credit-program

https://esd.ny.gov/industries/biotech-and-life-sciences

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CFB Client, IAMBIC has been awarded approximately $1M in grant funding from the National Science Foundation Small Business Innovation Research program. IAMBIC is an innovative shoe company disrupting the centuries-old footwear industry with their sizeless, precision-fit footwear driven by proprietary AI algorithms. This substantial funding from NSF enables IAMBIC to scale its cutting-edge precision-fit shoe design and manufacturing.

The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development.

Read more about IAMBIC and their recent funding here.

[post_title] => IAMBIC Receives $1 Million NSF SBIR Phase II Grant [post_excerpt] => This substantial funding from NSF enables IAMBIC to scale its operations. [post_status] => publish [comment_status] => closed [ping_status] => closed [post_password] => [post_name] => iambic-receives-1-million-nsf-sbir-phase-ii-grant [to_ping] => [pinged] => [post_modified] => 2024-08-09 15:38:43 [post_modified_gmt] => 2024-08-09 19:38:43 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=4439 [menu_order] => 0 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [1] => WP_Post Object ( [ID] => 3446 [post_author] => 3 [post_date] => 2020-02-19 15:19:33 [post_date_gmt] => 2020-02-19 15:19:33 [post_content] => Health Innovation Hub Life Science by Springboard Enterprises Applications for the Health Innovation Hub: Life Science are open through February 24. Springboard’s Health Innovation Hub: Life Science is a program for women-led life science and healthcare companies seeking growth funding and connections to experts and strategic partners for product development and expansion. Selected Hub companies are matched with a personal advisory team, tasked with providing a meaningful impact on the company’s next stage of growth. The program, while virtual, engages advisors and investors in a variety of in-person presentation sessions throughout the year and beyond. Areas of focus for the program include (but are not limited to) drugs, therapeutics, diagnostics, medtech, and medical devices. Our 2020 Health Hub programming has a special focus on Women's Health Innovation. Cost: $200 application fee ($100 is submitted by the priority deadline). If accepted: $5,000 program fee. Learn more here: sb.co/hih , Application Link Here If you are interested or would like to refer an entrepreneur, please contact Sierra Hieronymus: sierra@sb.co [post_title] => Health Innovation Hub Life Science - Applications Open [post_excerpt] => [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => health-innovation-hub-life-science-applications-open [to_ping] => [pinged] => [post_modified] => 2020-02-19 15:19:33 [post_modified_gmt] => 2020-02-19 15:19:33 [post_content_filtered] => [post_parent] => 0 [guid] => https://centerforbiotechnology.org/?p=3446 [menu_order] => 75 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [2] => WP_Post Object ( [ID] => 3061 [post_author] => 3 [post_date] => 2018-09-13 13:30:58 [post_date_gmt] => 2018-09-13 13:30:58 [post_content] => The Center for Biotechnology's annual Life Sciences Summit is an early-stage investor and business development conference for emerging companies and academic innovators. This year's event will take place on October 24-25 at 10 on the Park at the Time Warner Center in New York City. The objective of the meeting is to connect emerging companies with early-stage investors, business development professionals, and medical research foundations with the goal of advancing new innovations through clinical development. The robust, two-day program features: - Emerging Company Showcase - Pitch Doctor Sessions - Pipeline Café - Business Workshops & Plenary Sessions - Therapeutic Focused Panels - Online & Onsite Partnering - Strategic partners presentations View the full 2018 program and register at lifesciencessummit.org. [post_title] => Life Sciences Summit 2018: 10/24-10/25 [post_excerpt] => The Center for Biotechnology's annual Life Sciences Summit will take place on October 24-25 in New York City. [post_status] => publish [comment_status] => open [ping_status] => open [post_password] => [post_name] => life-sciences-summit-2018-1024-1025 [to_ping] => [pinged] => [post_modified] => 2018-09-13 13:30:58 [post_modified_gmt] => 2018-09-13 13:30:58 [post_content_filtered] => [post_parent] => 0 [guid] => http://centerforbiotechnology.org/?p=3061 [menu_order] => 111 [post_type] => post [post_mime_type] => [comment_count] => 0 [filter] => raw ) [3] => WP_Post Object ( [ID] => 1428 [post_author] => 3 [post_date] => 2015-03-02 17:06:37 [post_date_gmt] => 2015-03-02 17:06:37 [post_content] => The Entrepreneur's Toolkit Workshop is the next installment of how to workshops for entrepreneurs, early phase companies, inventors, and anyone thinking of becoming an entrepreneur. Technology agnostic information on topics such as Seed Funding, Crowd Funding, What is the profile of a fundable company? Protecting my edge in intellectual property? What type of incorporation is right for me? will be presented. View complete agenda here. This event will be taking place April 21, 2015 at the Center for Wireless and Information Technology at Stony Brook University. 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CFB Client, IAMBIC has been awarded approximately $1M in grant funding from the National Science Foundation Small Business Innovation Research program. IAMBIC is an innovative shoe company disrupting the centuries-old footwear industry with their sizeless, precision-fit footwear driven by proprietary AI algorithms. This substantial funding from NSF enables IAMBIC to scale its cutting-edge precision-fit shoe design and manufacturing.

The Center for Biotechnology and its accelerator programs have been instrumental in assisting IAMBIC with their SBIR pursuits and commercialization development.

Read more about IAMBIC and their recent funding here.

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