SCOTT DOWNEY
Special to the Leader
The Fredonia Technology Incubator (FTI) is once again holding a business competition for students of Fredonia, sponsored by AT&T.
Fredonia students may have no idea what FTI does, but Chuck Cornell, the director of FTI, is more than happy to set the record straight.
“Our mission here is creating jobs and cultivation of the entrepreneur and the spirit of the community,” Cornell said. “We have many events, such as our arts and business lunch, which promotes the business side of the arts … The student business competition also promotes that. The idea is when students graduate, they can start their own business in an incubator that is part of their own campus.”
According to the University’s website, the competition will provide students from all academic disciplines an opportunity to submit a business proposal via online application. Interested students should go to the FTI website and click on the link to apply.
“After they click on that, they will see that there is a fairly straightforward application process,” Cornell said. “From that, [the finalists] will be selected. Those finalists have an opportunity to present their business to a panel of independent judges.”
Students have until Feb. 10, 2016 to apply, and there are no costs to the students.
According to Cornell, the hope is to make this an annual event. It was done only every few years in the past, but many other incubators hold student business competitions annually to promote entrepreneurism on campus and in the community.
“I believe we have a lot of talent at our university,” Cornell said, “so this is a way to provide a mechanism for them to become clients here at the incubator and start their own business.”
The winner will receive an office at the FTI for a year at no cost. It includes access to all FTI programs and services. The prizes for second and third place are yet to be announced.
Since Fredonia is both an arts and sciences college, students who are interested in either area are encouraged to apply.
“We have some arts-based business, such as video production and graphic design. We also have mapping and software businesses,” Cornell said. “We also have an environmental engineering company here, so we have a pretty diverse group of businesses here.”
Once the business is started, it’s a legitimate business that is registered with the New York State that pays and collects taxes.
“The Incubator improves your chance of being successful,” Cornell said. “It can also help speed up the time from when you go from a business idea to having a viable business. So the incubator is essentially a support system that is put in place to help you get your business up and off the ground.”
“The number one goal of an incubator is job creation,” Cornell continued. “We know that business start-ups as a whole net new jobs in America. We know that businesses that start in incubator have a much higher chance of success. Therefore, the businesses that graduate out of our incubator are the ones that will grow jobs in the area.”
Not only does FTI create jobs, but it gives students the opportunity to have internships and get business experience first-hand at the facility. Taylor Cappelli is a senior public relations major with a leadership studies minor and a Communication and Marketing intern at FTI.
“…Interning at the incubator has helped me succeed in my major because I am doing public relations work,” said Capelli. “By writing press release[s] that are actually going out to local newspapers, I am seeing my work actually being used around Fredonia.”
FTI is all about success in the community and giving students a chance to succeed. This competition is just another program in a train of successes that will help students ensure not only their own future, but the future of New York, as well.