SBA awards FuzeHub $375K to support underserved entrepreneurs in New York

ALBANY — The U.S. Small Business Administration (SBA) has awarded FuzeHub $375,000 in funding to support entrepreneurs in underserved communities. FuzeHub, an Albany–based nonprofit, says it works to help New York State manufacturing and technology companies increase competitiveness and growth. FuzeHub’s funding includes two grants — $322,000 for its Equity in Manufacturing Innovation (EIM) program and $50,000 through the SBA’s 2024 Growth Accelerator Fund Competition (GAFC). The initiatives will enable FuzeHub to ramp up its capabilities in engaging and supporting underserved entrepreneurs in the manufacturing and technology sectors across several areas of New York state. “This federal investment will allow us to expand our reach and impact. FuzeHub has assisted thousands of manufacturing and tech firms over the 10 years since we first launched, and now we’ll have added backing to ensure that every manufacturer knows how to access New York State’s robust innovation resources,” Elena Garuc, executive director of FuzeHub, said in its announcement. “We will keep building our capacity to provide intensive, wrap-around support to innovators who have historically faced barriers to accessing these vital resources. We’re grateful to Senate Majority Leader Schumer and Senator Gillibrand for helping us secure the funding necessary to fuel this important work.” The EIM program will provide entrepreneurial training and services to 30 entrepreneurs across the Central New York, Southern Tier, and North Country regions. Complementing this, the GAFC award will support the development of a pre-accelerator program and new collaborations with 20-30 organizations to address the needs of entrepreneurs with advanced-manufacturing research and development projects. U.S. Senate Majority Leader Charles Schumer (D–N.Y.) and U.S. Senator Kirsten Gillibrand (D–N.Y.) were influential in securing the federal funding for FuzeHub’s expanded efforts, the organization noted.

Working with NY MEP

FuzeHub — which serves as the statewide center for the New York Manufacturing Extension Partnership (NY MEP) — will spearhead these initiatives in partnership with multiple regional NY MEP centers. They include the Alliance for Manufacturing and Technology (AMT) in the Southern Tier, CITEC Business Solutions in the North Country, and TDO in Central New York. “This initiative is another game-changer for Central New York’s manufacturing landscape. By focusing on underserved entrepreneurs, we’re tapping into a wealth of innovation potential that is too often overlooked,” Jim D’Agostino, CEO & MEP Center Director, TDO, said, in the FuzeHub announcement. We’re grateful to Senators Schumer and Gillibrand for their support in securing this funding, which will allow us to provide critical resources and mentorship to more manufacturers in our communities.” The nonprofit TDO, which is short for Train, Develop, Optimize, is located at 445 Electronics Parkway in the town of Salina. The organization launched in 1988 as the Central New York Technology Development Organization, or CNY TDO, per its website. “The North Country’s entrepreneurial spirit is strong, but access to resources has often been a challenge, especially for underserved rural communities that don’t have the density of resources and advisors typical of more urban areas,” Steven Lockwood, executive director at CITEC Business Solutions, said in the FuzeHub announcement. “This FuzeHub-led, SBA-funded program will bridge that gap, providing our innovators with the tools they need to turn their ideas into successful manufacturing ventures. We thank our federal representatives for recognizing the importance of investing in diverse entrepreneurial talent across all regions of our state.” CITEC says it offers “consulting and training services to help businesses grow.” CITEC developed out of the Northern Technology Council and the Northern Advanced Technology Corporation, which were founded in 1983 through a New York State program to advance technology-based businesses, the website says. This funding is a “significant boost” for the Southern Tier’s manufacturing ecosystem, Carol Miller, AMT executive director, said in the announcement. “It will allow us to nurture a more diverse group of entrepreneurs, bringing fresh perspectives and innovations to our region’s industrial base,” Miller said. “We’re thankful for the support of Senators Gillibrand and Schumer in championing this initiative, which will undoubtedly contribute to job creation and economic growth in our communities.” AMT operates at Five South College Drive in the town of Dickinson, near Binghamton.