Accelerate Long Island offers $130,000 in grants to support bootstrapping tech entrepreneurs with essential professional services like legal, accounting, HR, and marketing. Funded by a $1.25 million, five-year grant from Empire State Development, this program helps early-stage startups gain momentum. Applications are open to tech startups less than five years old with under $1 million in equity.
Estée Lauder is set to enhance Long Island's biotech landscape with a new research laboratory and office at Farmingdale State College’s Broad Hollow Bioscience Park. Opening in the spring, this facility will employ up to 80 people, including 31 new positions, and contribute $1.75 million to the college for scholarships. The lab will focus on skincare, makeup, and fragrance innovations, involving students in hands-on research and training. This development, supported by $1.2 million in tax credits from Empire State Development, aims to revitalize the Broad Hollow park and strengthen regional economic ties between academia and industry.