Six teams embark on Germinator business competition

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SYRACUSE — CenterState CEO has announced the initial group of six teams that will compete in Germinator, which it calls the region’s “largest and most comprehensive annual business competition.” The organization on May 11 awarded each team $10,000 in initial funding. Over the next two years, the six teams will compete for additional […]

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The organization on May 11 awarded each team $10,000 in initial funding.

Over the next two years, the six teams will compete for additional funding at four different demo days, with one winner earning a total of $250,000 of investment over the course of the program.

Syracuse–based CenterState CEO, the region’s primary economic-development organization, represents 2,000 members in a 12-county area of Central New York.

The teams

The teams include Euphony Inc., which specializes in “natural-sounding text-to-speech synthesis software.” The firm is applying its technologies to speech-therapy applications and speech simulation, CenterState CEO said in a news release.

The second team is Life Source Health, Inc., a company that offers “real time vital health information to emergency responders in order to better assist them in saving patients.”

Another competitor is Sarita’s, a sister company to Sarita’s food truck, which will expand its business with a line of frozen empanadas available in grocery stores.

Trainer Engine will also compete for funding. The company works on a platform that allows personal trainers to practice their trade “virtually, managing and assigning goals to clients with a robust software platform.”

The group also includes Volu, Inc., a “volunteer-engagement” platform for nonprofit organizations and volunteers.

The sixth participant is VossVertical, a company creating new technology that “expands the distance and endurance of unmanned-aerial systems.”

“We are excited to welcome these finalists to the next phase of the competition,” Brian Anderson, lead economic developer at National Grid and Germinator-competition judge, said in the release. “National Grid supports innovation through programs like the Germinator to provide emerging start-ups with an opportunity to grow in Central New York and succeed in a thriving entrepreneurial ecosystem.”

National Grid is the competition’s presenting sponsor, according to CenterState CEO. CenterState CEO and Buffalo–based M&T Bank (NYSE: MTB) are the Germinator’s lead sponsors.

“We look forward to seeing these teams grow, learn and succeed as they begin the first round of the competition,” Timothy McDevitt, vice president of commercial lending at M&T Bank and Germinator-competition judge, said.

About the program

The Germinator is a two-year competition for startups with funding rounds every six months.

Industry experts will also train the teams on topics that include marketing, intellectual property, sales, financing, and fundraising.

Participants will have one-on-one mentoring with The Tech Garden’s team of experts and access to the DevBox, a team of in-house software developers that can assist in building software and application products.

Six months from now, teams will compete in the first of a series of “Greenhouse” pitch competitions.

Judges and sponsors will rate the teams’ progress and “potential for success” before choosing the teams that will earn additional funding and continue through the next round of the competition, CenterState CEO explained.

The teams that are eliminated from each “Greenhouse” during the judging process will have “additional opportunities” to develop their business ventures through the Germinator program.

The opportunities include obtaining space in The Tech Garden and support through its portfolio of service and networking opportunities.

They will also have a chance to compete for a “Best of the Rest” $50,000 investment during the final “Greenhouse” competition, when two teams battle for the investment grand prize of $100,000.

MedTech teams up with NY BioHud Valley to develop state’s bio/med sector

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SYRACUSE — MedTech Association, a Syracuse–based bioscience and medical-technology (bio/med) trade association for New York firms, will work with a downstate organization to “further develop” the bio/med industry statewide. The association is partnering with NY BioHud Valley on both message promotion and advocacy, MedTech announced in a news release issued April 20. NY

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The association is partnering with NY BioHud Valley on both message promotion and advocacy, MedTech announced in a news release issued April 20.

NY BioHud Valley is a cluster-development initiative that Hudson Valley Economic Development Corp. formed to establish the Hudson Valley corridor as a “global leader” in the life sciences, pharmaceutical, and medical-device industries.

Hudson Valley Economic Development Corp. and NY BioHud Valley are located in New Windsor in Orange County, according to their websites.

The organizations will coordinate advocacy interests for state and federal priorities, cross-promote efforts to expand awareness of the industry, and involve each other in future programming, specifically in the Capital Region and the downstate area.

MedTech works to connect New York state’s bio/med sector through collaboration, education, and advocacy, the trade association said.

MedTech and NY BioHud Valley will work on “cross promotion of messaging, events, and programming,” which could include collaboration on MedTech’s 2016 conference, which it is planning for Albany, says Jessica Crawford, president of MedTech.

Crawford spoke with CNYBJ on May 12.

They’ll also work on bio/med industry advocacy, Crawford added.

“We both understand that the industry is a significant part of the economy here in New York state, but it’s important that we have one voice that represents the interests of that industry and advocates on behalf of the industry with our delegation, so working together to do that and working with our companies to try to support some of those efforts … so that’s another area that we are looking … to work together on,” says Crawford.

Tarrytown, N.Y.–based Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN), which is associated with both MedTech and NY BioHud Valley, “connected the two organizations,” says Crawford.

“It was a conversation that I had with Regeneron that … moved things forward,” she added.

Regeneron has an “Upstate presence,” with a manufacturing facility in Rensselaer, near Albany, she added.

“Building a stronger life sciences cluster in the Hudson Valley requires tearing down the artificial borders separating regions in order to form compelling alliances with like-minded organizations seeking to accelerate [New York’s] growth in this critical sector,” Laurence Gottlieb, president & CEO of Hudson Valley Economic Development and founder of NY BioHud Valley, said in the MedTech news release.

The downstate region — including the New York City, Long Island, and the Mid-Hudson areas — employs nearly 46,000 in direct bioscience jobs.

Those jobs, through “indirect and induced effects,” contribute about 128,000 total jobs across the state’s economy.

“I think it’s really important that we leverage those assets and try to work together as one to advance our industry,” says Crawford.

Industry report

MedTech cites its own industry report, “Bio/Med Breakthroughs: 2014 Bio/Med Industry Report,” in providing the bioscience-job figures, according to its news release.

The trade association released the report at its MedTech2014 conference, says Crawford. It held the event Sept. 15 in Albany and Sept. 16 in nearby Troy.

MedTech describes drugs and pharmaceuticals as the “most prevalent industry subsector in New York” with a concentration “that is 8 percent greater than that seen nationally.”

The association cites upstate New York, where the medical-device sector is 26 percent more “concentrated” than the national average.

Statewide, the more than 75,000 bioscience workers earned $5.7 billion in total wages and salaries in 2012, which translates into an average annual wage of $76,112, MedTech said.

The bio/med sector in New York has a total compensation impact of $16.8 billion (including direct, indirect and induced impacts), producing $62.6 billion toward the gross state product, the association added.

Cornell study finds travelers want more mobile options

Regional News, Technology

ITHACA — As the hospitality industry gradually ramps up its mobile platforms, a recent study published by Cornell University’s Center for Hospitality Research (CHR) found

Addressing key questions about the Nonprofit Revitalization Act

Business Mentors, Nonprofits, Subscriber Only

The state’s Nonprofit Revitalization Act (NPRA) took effect July 1, 2014. Nonprofit organizations throughout New York have invested a significant amount of board, management, legal, and financial effort in complying with requirements of this extensive reform legislation. Two of the primary focus areas for both reform and increased board governance regard conflicts of interest and

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The requirements in each of these areas have been well documented in my previous columns. However, one of the common results of focus on these two areas has been an increasing number of questions regarding competitive bids for various types of professional and vendor-supply contracts.

Prior to the NPRA, the following questions were frequently discussed during the decision-making process related to competitive bids.

“They are all the same, aren’t they?”

“Six of one, half dozen of the other. It makes no difference to me.”

“Let’s take the lowest price quote. I can’t identify any differences between and among the firms.”

“We have to take the lowest price to fulfill our fiduciary responsibility.”

“There is no way to differentiate one firm from the other.”

“We have to change vendors. It has been more than five years that we have used the current firm.”

“They all have similar qualifications, right?”

Both before and after the NPRA, the answer to each of the questions or comments above would be a resounding “no.” In many cases, there is truth in the adage, “you get what you pay for.” This can be particularly true in the selection of service providers for your organization.

In New York state, the Office of the State Comptroller has issued a “Vendor Responsibility Questionnaire,” which the state has used for a number of years as a component of qualifying a vendor for a state grant or contract award (http://www.osc.state.ny.us/vendrep/forms_vendor.htm.). In addition to the recommendations below regarding the adoption of a “lowest responsible bidder policy,” I strongly recommend that a policy of this type require the completion of this questionnaire for the vendors you are seriously considering.

In the nonprofit sector, too often, and at times with disastrous consequences, the lowest price quote, without consideration of qualifications, dictates the decision process. With certain minor exceptions, there are no regulatory requirements in the area of professional-service contracts that “require” the frequency of change in service provider or that the lowest price be awarded the contract.

First and foremost, adopting and implementing a “lowest responsible bidder” policy requires that your organization consider what is:

– Practical for implementation

– Scalable to the size of the entity

– Feasible, and

– Cost-effective for management and staff

If we can agree that lowest responsible/qualified bidder is a preferable course of action from a policy perspective, the remainder of this column will provide guidance regarding the implementation of such a policy.

Organizational culture will influence your policy and decision-making in the area of contracted professional services. We can all agree that buying a television set or an automobile by the same manufacturer can be focused primarily on choosing the lowest price. However, for contracted professional and/or administrative support services, there are many factors to consider, in addition to price.

Criteria to be considered in your assessment of service providers should include:

– Integrity, trustworthiness

– Financial stability

– Skill

– Judgment

– Ability to perform

– Promptness

– Experience

– References from previous clients/customers

Although I can be viewed as having a biased opinion in this area as a professional service provider of audit, tax, and consulting services, my goal is to remain objective in the recommendations that follow.

Certain basic assumptions need to be agreed upon before addressing the issue of frequency of bidding professional and administrative support-service contracts.

1) If the current relationship is not broken, don’t fix it.

2) f the service being provided is of high quality, timely, and provided at a reasonable cost, the need for and frequency of change is significantly reduced.

3) here can be a substantial internal cost associated with coordinating a request for proposal process (RFP).

4) eferences from current and former clients of the service provider should be obtained and considered as a key component in the decision process.

5) n the nonprofit sector, the volume and complexity of regulations require that professional service providers have relevant experience. Ignorance of a law or regulation is no excuse for non-compliance.

6) hanging service providers can be costly and disruptive if the transition is not managed effectively. The change should be viewed as similar to turnover in a key employee position.

With these basic assumptions, modified to fit your organizational culture, your lowest responsible bidder policy should include documentation of the expected frequency of an RFP process for each professional service contract. The type of services to be scheduled can include, but are not limited to, the following:

– Independent audit and tax services

– Legal

– Insurance

– Banking

– Investment management

– Transportation

– Telecommunications

– Actuarial and valuation services

– Contracted support services (example: payroll, maintenance, utilities, food service)

In most cases, it’s important that a board committee has designated responsibility for the evaluation of each service provider on a periodic basis. Management, generally, will take the primary responsibility for conducting the RFP process with appropriate input and oversight from the board committee.

In the absence of regulatory requirements, the decision regarding frequency of the RFP process should consider the factors described above. As a general guideline, I believe that a five-year cycle, assuming satisfaction with the current service provider, is reasonable for most of the service contracts described above. However, frequency of the evaluation and assessment process does not anticipate or require that the service relationship be transitioned to a new provider. In fact, the evaluation and assessment may not require an RFP every five years, if you are satisfied with the current service provider on quality and cost.

In my chosen field of accounting and auditing, I have often said that if a service provider is providing satisfactory service at a reasonable price, changing firms can generate more negative implications than positive results. The important element in this area is documenting and implementing a policy that is effective for your organization and its decision-making culture.

Gerald J. Archibald, CPA, is a partner in charge of the management advisory services at The Bonadio Group. Contact him at garchibald@bonadio.com

Taking Unilateral Action on Minimum Wage Unfair For All

Opinion, Subscriber Only

New York Gov. Andrew Cuomo is preparing to take unilateral action to further artificially adjust labor rates. He has instructed Acting State Labor Commissioner Mario J. Musolino to create a wage board to examine the minimum wage in the fast-food industry. The rhetoric coming from the governor’s office is troubling, but unfortunately familiar. He

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The rhetoric coming from the governor’s office is troubling, but unfortunately familiar. He has time and again ignored the basic tenets of democracy and rushed detrimental policies to suit his own personal agenda.

From the introduction of the SAFE Act, which was forced through the state legislature with no input from the public, law enforcement, or mental-health experts, to his propensity for using messages of necessity, which bypass the traditional three-day aging period for legislation, the governor has consistently put his politics before the people.

More harm than good

The recommendations of the wage board, expected in July, do not need legislative approval, according to the governor’s own recent press release. This is a reckless case of executive overreach with high stakes. We are already raising the minimum wage in New York at the end of this year — jeopardizing the jobs of small-business employees — so we can ill-afford to put any more pressure on job creators.

In addition, the governor is singling out one industry and creating a separate standard for it to meet. His previous minimum-wage proposal set up regional disparities by offering higher wages downstate. By doing so, we will do more harm than good to the economy.

The governor’s defense of his plan was enumerated in a New York Times op-ed that featured a major factual error regarding the number of fast-food workers raising a child. The piece claimed that two-thirds of those workers had a child, when in fact the number is far lower, as reported in a Capital New York article: http://www.capitalnewyork.com/article/albany/2015/05/8567569/cuomo-wage-op-ed-contains-error.

Further, the article goes on to note how similar the governor’s op-ed is to talking points from apparently pro-hike labor groups.

The business community almost unanimously opposes a hike in the minimum wage. Many employers express the fear that they may have to lay workers off to accommodate the law. Considering that New York state is already struggling with high taxes, lagging job growth, and one of the worst business climates in the U.S., it is baffling why the governor and Assembly majority are pushing yet another mandate on job creators.

I stand firm in my commitment to improving the business climate in New York and urge all legislative leaders to stop applying undue pressure on the business community. The last thing New York needs is a spike in unemployment.

Brian M. Kolb (R,I,C–Canandaigua) is the New York Assembly minority leader and represents the 131st Assembly District, which encompasses all of Ontario County and parts of Seneca County. Contact him at

kolbb@assembly.state.ny.us

The Pretend Economy and Pretend Politics

Opinion, Subscriber Only

Isn’t it sweet to be surrounded by so much make-believe? So much pretending. Various characters pretend our economy is just peachy. Pretend that any day now it will kick into higher gear. I hate to be the guy who tugs back the curtain to reveal the Wizard of Oz. But, things ain’t peachy.

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Isn’t it sweet to be surrounded by so much make-believe? So much pretending.

Various characters pretend our economy is just peachy. Pretend that any day now it will kick into higher gear.

I hate to be the guy who tugs back the curtain to reveal the Wizard of Oz. But, things ain’t peachy. It is time to stop pretending.

This has been a dismal economic recovery. Despite being fueled by the easiest money in history, the economy is anything but robust. Let us stop pretending, please, Washington. The Obama economic policies have worked poorly. We may be headed toward another recession.

Your doctor checks your vitals. Economists do the same with the economy. Lately, the economy’s vitals have missed expectations by the most in six years. New jobs are weak. So is investment. So are exports. So are new business numbers and retail sales.

Suppose your doc said your blood pressure stinks. And your ticker flutters. And your blood analysis is lousy. What would you think? Well, that’s what you should think about your economy. Let us stop pretending.

On the political front, we are asked to pretend a bunch of stuff about the Clintons — in the wake of the accusations in the new book “Clinton Cash.”

Enough already with the pretending. When you tug the curtain back, you see influence peddling and influence buying.

The only reason people cough up millions to a politician is to get something in return. Period, end of fairy tale. People lay out the big bucks to buy influence.

Politicians take the money by promising favors. Or, hinting it, nudge, nudge, wink, wink. Or, by having a proxy do so.

Let’s get real here. It doesn’t matter what the front is. “Yeah the bucks are going to charity.” It doesn’t matter what the defense is. “There is no evidence, you know.

No evidence.”

C’mon, c’mon. Everybody knows there’s a whole lot of influence peddling going on. And, the Clintons are wizards at it.

If you want to pretend this doesn’t go on in Washington (or Albany), I will pin this year’s Casablanca award on your chest. (“I’m shocked, shocked to find that gambling is going in here!”)

If you want to pretend the Clintons are not running the biggest and best-oiled influence machine in town, I’ll pin two of them on you.

A genuinely honest defense of the Clintons should begin this way: Hey, influence-peddling is the lifeblood of this town. And the Clintons run the best game in town.

So what’s your problem?

Now, that would be an honest defense. No pretending.

From Tom…as in Morgan.

Tom Morgan writes about political, financial, and other subjects from his home near Oneonta, in addition to his radio shows and TV show. Contact him at tomasinmorgan@yahoo.com

PULL QUOTE: Lately, the economy’s vitals have missed expectations by the most in six years.

CenterState CEO: Syracuse chosen to develop plan for foreign-direct investment

SYRACUSE, N.Y. — The Global Cities Initiative (GCI) has selected Syracuse to develop a regional plan “to attract and leverage foreign-direct investment.” The effort would

People news: Karen Scaff named COO of Springside at Seneca Hill

People on the Move

VOLNEY, N.Y. — Oswego Health has appointed Karen Scaff as chief operating officer of its Springside at Seneca Hill retirement community affiliate. She will also

New York manufacturing index turns positive in May

Manufacturing & Engineering, Subscriber Only

The Empire State Manufacturing Survey general business-conditions index increased four points to 3.1 in May from a -1.2 reading in April, the Federal Reserve Bank of New York reported Friday. Back above zero, the index indicates expansion in New York’s manufacturing sector, but suggests that business conditions were “only slightly better over the [past] month,”

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WSYR news radio host Joe Galuski dies

Sports, Entertainment & Tourism

SYRACUSE, N.Y. — Joe Galuski, who worked for WSYR news radio for more than 25 years, has died, the radio station announced on the air

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