UTICA, N.Y. — New York State Technology Enterprise Corporation (NYSTEC) has pledged $500,000 to SUNY Polytechnic Institute to establish a cutting-edge, interdisciplinary business center, the NYSTEC Center for Business Excellence (CBE), in Donovan Hall, the college announced.
“We are incredibly grateful to NYSTEC for their generosity and commitment to supporting the next generation of business leaders,” SUNY Poly VP of Institutional Advancement Andrea LaGatta said in the announcement. “This investment in the NYSTEC CBE underscores the vital role of public-private partnerships in fostering innovation and driving economic growth in our region and beyond.”
With an estimated total project cost of $800,000, the CBE will serve as a hub for innovation, entrepreneurship, and interdisciplinary education, integrating fields such as artificial intelligence, business ethics, and financial-market innovation.
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“We are thrilled to provide foundational support for the NYSTEC CBE, which aligns closely with our mission of improving the lives of New Yorkers and developing the workforce of tomorrow,” NYSTEC CEO Kevin Owens said. “This will be a transformative community resource for the Mohawk Valley and will contribute to the region’s economic-development goals.”
Steve and Gina Surace, co-chairs of the project’s fundraising team, contributed $100,000 toward the creation of a trading room within the CBE.
Other components of the CBE include an artificial intelligence and business lab for exploring the impact of artificial intelligence on business, a business-ethics initiative to address the moral complexities of modern business, and an entrepreneurship and innovation hub to support student startups and provide mentorship and networking opportunities.
SUNY Poly expects the centralized resources and expertise will have impact beyond the campus into the community, serving as a catalyst for job creation and collaborative research initiatives and fueling economic development through partnerships with local businesses.
The college continues to seek contributions for the completion of the project — including developing, acquiring, and maintaining the necessary infrastructure, technologies, and program initiatives — and to endow the center so it will benefit students and the community in perpetuity.
