Dec 23 2011

NYIT Entrepreneurship Center Opens

New York, N.Y.  (December 23, 2011)   ̶   NYIT’s new business incubator is up and running, complete with work stations, business plan software, a conference room, and the zeal of several students building their enterprises.

“We’re certainly getting traction to help students interested in pursuing entrepreneurship as a career option,” said Joanne Scillitoe, director of the Center for Entrepreneurial Studies and an associate professor of entrepreneurship in NYIT’s School of Management.  “They’re trying to get out, meet people, network, and look for mentors.”

The business incubator, in newly-acquired space on the fourth floor of 26 W 61^st Street, is gaining attention and interest from students who want to launch businesses.

“It’s nice to have a place where you can bring investors and have meetings with potential clients in a conference room atmosphere,” said Richard Pennino, an NYIT management student (and NYIT employee) hoping to create a mobile automotive service. 

A regular at the center is Steven Lamenstorf, who operates his digital business, LHMedia LLC, when he’s not attending classes.  Kevin Hartrum, a third-year student who is creating a plan for a computer customization firm, says he’ll spend the next six months to a year working at the center to fine-tune his idea.

“Finding investors is the hardest part,” said Hartrum.  “You have to have a solid business plan and a solid business presentation. Using the center offers a lot of resources we typically wouldn’t have at home.”

Among those resources is the center’s Entrepreneur-in-Residence Roy Arad, an NYIT alumni (BS, ‘07) and vice president of business development for Arocon Consulting.  Arad meets with students, offers guidance on their plans, and helps connect them with other professionals.

“They become business people and not students when they are at the center,” Arad said. “They have to sell things, do presentations, get criticized by investors… this is getting them ready for real life.”