Long Island High Technology Incubator Inc

SEE SCHEDULE O.THE LONG ISLAND HIGH TECHNOLOGY INCUBATOR (LIHTI) IS A NON-PROFIT ORGANIZATION THAT SUPPORTS AND STABILIZES EARLY-STAGE, HIGH-RISK, HIGH-TECH BUSINESSES. WE ARE DEDICATED TO HELPING NEW TECHNOLOGICALLY-INNOVATIVE COMPANIES GROW BY PROVIDING THEM WITH A VARIETY OF SUPPORT RESOURCES AND SERVICES. IN ADDITION TO ITS BEAUTIFUL SETTING, LIHTI'S LOCATION ON THE STONY BROOK UNIVERSITY CAMPUS ENABLES THE TRANSFER OF IDEAS FROM THE UNIVERSITY TO THE PRIVATE SECTOR. THE COMPANIES THAT DEVELOP AND GROW AS A RESULT OF BEING A PART OF THE INCUBATOR CREATE JOBS AND EXPAND THE TAX BASE ON LONG ISLAND AND IN NEW YORK STATE.

GENERAL INCUBATOR PROGRAM - THE UTILIZATION OF THE INCUBATOR FACILITIES IS INTRINSTIC TO THE ACCOMPLISHMENT OF THE ORGANIZATION'S EXEMPT PURPOSE OF ECONOMIC DEVELOPMENT OF LONG ISLAND AND THE STATE OF NEW YORK ECONOMY. APPROXIMATELY TWENTY-FIVE HIGH TECHNOLOGY BUSINESS ORGANIZATIONS ARE UNDER DEVELOPMENT IN THIS FACILITY. THE ORGANIZATION ENHANCES THE SUCCESS OF DEVELOPMENT COMPANIES BY PROVIDING SPACE AT A MUCH LOWER RATE AS COMPARED TO THE MARKET.

CLEAN ENERGY BUSINESS INCUBATOR PROGRAM (CEBIP) - CEBIP SEEKS TO ADDRESS MANY KEY NEEDS OF AN EARLY-STAGE, ENERGY-BASED TECHNOLOGY BUSINESS. THIS IS PARTICULARLY CRITICAL IN TODAY'S RAPIDLY CHANGING MARKETPLACE. SUPPORTED BY THE NEW YORK STATE ENERGY RESEARCH AND DEVELOPMENT AUTHORITY (NYSERDA), CEBIP PROVIDES ACCESS TO AN UNSURPASSED TEAM OF PARTNERS AND RESOURCES TO MAXIMIZE THE PROSPECTS FOR NEW BUSINESS VENTURES. CEBIP WILL CONTINUOUSLY WORK TOWARDS THE DEVELOPMENT OF A SUCCESSFUL CLEAN ENERGY ECONOMY ON LONG ISLAND, WITH THE ULTIMATE GOAL OF CREATING NEW JOBS AND MAKING A STRONG ECONOMIC IMPACT HERE IN NEW YORK.

INNOVATION HOTSPOT PROGRAM - THE INNOVATION HOTSPOT PROGRAM IS A GRANT FROM EMPIRE STATE DEVELOPMENT'S DIVISION OF SCIENCE, TECHNOLOGY AND INNOVATION ("NYSTAR") TO LIHTI DESIGNATING IT AS ONE OF TEN INNOVATION HOTSPOTS ACROSS NEW YORK STATE. THE PURPOSE OF THE GRANT IS TO AID LIHTI TO REACH A GREATER NUMBER OF EARLY-STAGE COMPANIES. THE FINANCIAL SUPPORT MAY BE USED FOR PHYSICAL SPACE, SHARED ADMINISTRATIVE STAFF, ACCESS TO CAPITAL, COACHING, MENTORING, NETWORKING CONNECTIONS, PROTOTYPE DEVELOPMENT, AND ACCESS TO OTHER TECHNICAL SERVICES. INNOVATION HOTSPOTS ALSO OFFERS TAX BENEFITS TO PARTICIPATING COMPANIES. LIHTI IS SPECIFICALLY USING THE GRANT TO REIMBURSE QUALIFIED PROTOTYPING, INTELLECTUAL PROPERTY ("IP"), SMALL BUSINESS INNOVATION RESEARCH ("SBIR"), AND MARKETING EXPENSES FROM PARTICIPATING COMPANIES AND TO FINANCIALLY SUPPORT THE ADMINISTRATION OF THE GRANT AND DELIVERY OF MARKETING AND BUSINESS MENTORING STAFF SERVICES.