New York Tech Launches Innovation
and Entrepreneurship Academy With
$5 Million Venture Fund

In a bold step to strengthen its leadership in entrepreneurship education, New York Institute of Technology has announced the launch of its Innovation and Entrepreneurship Academy, together with the creation of a $5 million NYIT Venture Fund, to invest in startups—from students, faculty, alumni, and other qualified entrepreneurs.

Designed to empower the next generation of student entrepreneurs across the university’s New York City and Long Island campuses, the academy will offer hands-on resources, expert mentorship, and the infrastructure needed to launch startups, develop innovative technologies, and bring new products to market.

“We believe in the power of innovation and the entrepreneurial drive of our students,” says President Henry C. Foley, Ph.D. “Now, we’re taking that belief even further with the launch of the Innovation and Entrepreneurship Academy—a transformative initiative that is part of our vision of inclusive excellence and gives students the tools and support to turn bold ideas into real-world impact.”

In addition to the venture fund, a key feature of the Innovation and Entrepreneurship Academy is Startup Tech Central, a new center on the Long Island campus complete with maker spaces, mentorship programs, and startup training. Existing student resources and labs, including the College of Engineering and Computing Sciences’ Entrepreneurship and Technology Innovation Center (ETIC) and incubator space, will complement the academy’s offerings, as will the School of Architecture and Design’s fabrication labs.

Programming offered through the academy will include hackathons, boot camps, pitch competitions, startup weekends, and more, expanding New York Tech’s legacy of experiential learning and innovation.

Additionally, new academic programs and courses are being developed across New York Tech’s schools and colleges. The existing technology entrepreneurship minor will be open to all undergraduate students, regardless of major.

“The Board of Trustees is proud to champion this venture fund and new entrepreneur-focused initiative to empower turning ideas into impact,” says Board Chair Peter J. Romano (B.Arch. ’76). “We believe that investing directly in the creativity and entrepreneurial spirit of our students, faculty, and alumni gives them real opportunities to grow, create, and lead and further positions New York Tech as a destination for innovative students with the drive to fuel their own business ventures.”

To guide the academy’s growth, a new advisory board featuring leaders from top tech firms and regional businesses and organizations will provide input on strategic direction, mentorship, and insights on industry trends and workforce needs.

The venture fund and related support for students is the latest example of New York Tech’s commitment to fostering innovation, coming on the heels of its recent $31 million investment in the state-of-the-art Biomedical Research, Innovation, and Imaging Center (BRIIC) to expand faculty research. The BRIIC, a reimagined 20,000-square-foot space on the Long Island campus, allows researchers across various scientific fields, schools, and colleges to sync their expertise. Additionally, in line with its focus on achieving Research 2 (High Spending and Doctorate Production) status by 2028, the university has made increases in research expenditures, developed new Ph.D. programs, and enhanced its infrastructure in support of research activity.

This news was announced today at an event celebrating the official opening of the BRIIC. Leaders, faculty and staff from New York Tech, elected officials, community representatives, and others gathered outside the new facility for the ribbon-cutting event and to learn how New York Tech is reaffirming its commitment to advancing innovation, supporting student success, and driving economic growth across the region.