The Capital Region: A Thriving Hub for Startups
Table of Contents
- 1. The Capital Region: A Thriving Hub for Startups
- 2. What are some of the ways TVCG is working to address the challenges faced by startups in the Capital Region?
- 3. The Capital Region: A Thriving Hub for Startups
- 4. Interview with Dan Falkenstrom, Operations Director, tech Valley Center of Gravity (TVCG)
- 5. Interview
The Capital Region of New York is buzzing with entrepreneurial energy. 2022 witnessed the largest increase in startup activity in over a decade, with new businesses springing up across various industries. This surge reflects a growing trend of individuals turning their passions into profitable ventures, fueled by a supportive ecosystem and access to vital resources.
One example is Ben Stepanian, a mechanical engineer by day and a budding entrepreneur by night. He launched “518 Mobile Welding” in May 2022, transforming his long-held welding hobby into a thriving business. “I’ve been doing it since May, okay, but I’ve been welding for about eight years doing like side projects on my own. So I figured why not make something out of it,” he explained.
Stepanian’s story is just one among dozens in the Capital Region. According to a recent report by the regional chamber of commerce,76 new startups and solo manufacturing businesses emerged in 2022,bringing the total number to 1,103. Don Wiesenforth, Sr. VP for Manufacturing Solutions at the Capital Region Chamber, sees this growth as a positive sign. “Those startups eventually become 3-person, 4-person, 5-person and hopefully big companies,” he said. “There are a number of companies in the capital region that started with somebody in their garage.”
While New York State ranks 40th in the nation for startup businesses,as per WalletHub’s recent study,the Capital Region is bucking the trend. Initiatives like LaunchBox in Latham and the Tech Valley Center of Gravity (TVCG) are playing a crucial role in fostering this entrepreneurship boom.
TVCG,which offers individuals access to workspace and equipment rentals,is a game-changer for aspiring entrepreneurs. “To start a new business, especially manufacturing, you need a large amount of equipment that costs a lot of money,” notes Dan Falkenstrom, TVCG Operations Director. “It’s a lot easier to pay a small monthly fee and get access to this equipment. We’ve seen more people willing to take that risk when they have easy access to equipment to see if a market exists.”
Nitalia Naeem is a prime example of how these resources empower entrepreneurs to succeed. In 2023, she launched “Rajput Refinishing,” breathing new life into vintage furniture. Taking advantage of LaunchBox’s facilities and the controlled environment of the warehouse space, naeem emphasizes the importance of factors like humidity and temperature for her craft. ”The humidity and temperature is a big, big, you know, driving factor to how the pieces turn out,” she said. “There’s, I mean during the summer and stuff, you can control it, but during the rest of the year when, you know, temperatures are finicky and it’s like the 40s in one day and then it’s like 60s the next day.”
Tim Doran, too, embodies the spirit of entrepreneurship in the later stages of life. With Cosaint Globals, he’s building a triumphant business in advanced cannabinoid therapy products, proving that age is no barrier to achieving dreams. “I would say we’re a small business,you know,but we’re growing,for a company that just started a year ago,we’ve had tremendous success,” he shared.
What are some of the ways TVCG is working to address the challenges faced by startups in the Capital Region?
The Capital Region: A Thriving Hub for Startups
The Capital Region of New York is buzzing with entrepreneurial energy. 2022 witnessed the largest increase in startup activity in over a decade, with new businesses springing up across various industries. This surge reflects a growing trend of individuals turning their passions into profitable ventures, fueled by a supportive ecosystem and access to vital resources.
Interview with Dan Falkenstrom, Operations Director, tech Valley Center of Gravity (TVCG)
Don Wiesenforth, Sr. VP for Manufacturing Solutions at the Capital Region Chamber,sees this growth as a positive sign.
“Those startups eventually become 3-person, 4-person, 5-person and hopefully big companies,” he saeid. “There are a number of companies in the capital region that started with somebody in their garage.”
TVCG,which offers individuals access to workspace and equipment rentals,is a game-changer for aspiring entrepreneurs. “To start a new business, especially manufacturing, you need a large amount of equipment that costs a lot of money,” notes Dan Falkenstrom, TVCG Operations Director. “It’s a lot easier to pay a small monthly fee and get access to this equipment. We’ve seen more people willing to take that risk when they have easy access to equipment to see if a market exists.”
We spoke with Dan Falkenstrom, Operations Director of TVCG, to delve deeper into the impact of this resource on the region’s startup scene.
Interview
Archyde: Dan, thanks for taking the time to speak with us.
TVCG has gained a reputation as a vital resource for startups in the Capital Region.Can you tell us about the services TVCG offers and how they specifically cater to the needs of entrepreneurs?
Falkenstrom: It’s my pleasure. At TVCG, our core mission is to foster innovation and entrepreneurship by providing a dynamic and affordable workspace. We offer a range of services, including dedicated office space, co-working areas, high-speed internet, and access to shared equipment, like 3D printers, laser cutters, and even welding equipment. This access to possibly expensive machinery is a game-changer for startups, especially those in the manufacturing space.
Archyde: Speaking of manufacturing,TVCG seems particularly supportive of this sector. What are some of the success stories you’ve witnessed in the region’s manufacturing startup landscape?
Falkenstrom: Absolutely. We’ve seen a number of exciting manufacturing startups thrive within our facility. For example, we have companies developing 3D-printed medical devices, others creating high-end woodworking, and yes, even some utilizing welding equipment to fabricate unique metalwork. Access to equipment here allows them to scale up quickly without the huge upfront costs associated with purchasing their own.
Archyde:
You mentioned the challenges startups frequently enough face. Do you see any common roadblocks for founders in the Capital Region, and are there ways TVCG is working to address those challenges?
Falkenstrom:
One common roadblock is finding the right mentorship and support network. Building a business can be incredibly challenging, and access to experienced guidance can be invaluable. We’re working to build stronger connections with local mentors and organizations that can offer support to our startups. We also host workshops and networking events to connect entrepreneurs with each other and potential investors. Breaking down those barriers and building a stronger support system is key to long-term success.
Archyde:
What excites you most about the future of entrepreneurship in the Capital Region?
Falkenstrom:
I’m incredibly excited about the increasing diversity of industries represented in our startup community. We’re seeing a growth in everything from tech and software to bio-engineering and sustainable growth.
I believe this cross-pollination of ideas will lead to even more innovative solutions and drive even more economic growth for the region.
Archyde: Thank you, Dan, for sharing your insights. we look forward to seeing the continued growth and success of startups in the Capital Region.
What innovations are you most excited to see emerge from the capital Region’s entrepreneurial ecosystem? Share your thoughts in the comments below!
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