News & Updates

Incubator for Nanotechnology Ventures, Emerging Sciences, and Technologies

News & Updates

PRESS RELEASES

September 27, 2006

Grand Opening of INVEST at Sage
Senator Bruno, Sage President, Dignitaries Cut the Ribbon for Nanosciences Business Incubator, A National First for a Women's College

TROY, NY - State Senate Majority Leader Joseph L. Bruno, Jeanne H. Neff, President of the Sage Colleges, and Clint Ballinger, President of Evident Technologies, Inc. marked the grand opening of the $5 million Incubator for Nanotechnology Ventures, Emerging Sciences, and Technologies (INVEST at Sage) by cutting a ceremonial ribbon in front of the new home of the INVEST at Sage incubator -- the first of its kind nationally to be located at a women's college.

A ribbon adorned with "quantum dots" was cut to celebrate the official grand opening of INVEST at Sage. Pictured are: (l to r) Clint Ballinger, CEO of Evident Technologies; Assemblyman Ron Canestrari; Margaret Hines, Lead Scientist at Evident; Judith Barnes, former Sage board chair; Vincent Lepera of Architecture +; Sage President Jeanne Neff; Troy Mayor Harry Tutunjian; Senator Joseph Bruno; RSC alumna and benefactor Donna Esteves; and Tom Keane, chair of the Chemistry & Physics Department at Sage.

In June, Sen. Bruno announced $2.5 million in funding to create INVEST at Sage with Evident Technologies as the founding partner and first tenant. The $2.5 million from Senator Bruno will be coupled with $2.5 million in private funding for the facility, which will help technology companies grow and expand while advancing Sage's programs in science and technology.

"The grand opening of INVEST at Sage College is a significant milestone as we transform the Capital Region into a global leader and innovator in the fields of emerging technologies and nanotechnology," said New York State Senate Majority Leader Joseph L. Bruno. "This is truly an example of what can be accomplished when the public sector, private industry, and educational institutions work together. This investment will allow local businesses to capitalize on new opportunities to develop their products and create jobs, and will establish Sage's reputation as one of the finest colleges in the nation."

Sage President Jeanne H. Neff noted that INVEST's uniqueness and importance for women in science is three-fold. Additionally, the opportunity for young women to work at the nexus of entrepreneurship, business, science, and communication makes INVEST at Sage truly unique.

"Sage has the only nanoscience business incubator on a women's college campus, our leadership donor is a woman entrepreneur in a technology enterprise, and Evident's two lead scientists, Dr. Margaret Hines and Dr. Jennifer Gillies, are leaders in this burgeoning field," said Dr. Neff. "Taken together, these elements of the INVEST story are not only noteworthy in their own right, they also demonstrate for young women with ability in math and science what may lie ahead for them."

A Leadership Gift

Sage Trustee and fundraising chair for the INVEST project, Donna Esteves (RSC '70) has made a $500,000 leadership gift to the INVEST at Sage project that will outfit the chemistry labs with state-of-the-art equipment.

Esteves is the Chief Financial Officer at New Jersey-based SESCO, Inc. and former CEO of its affiliate, Free Lighting Corporation, which provides energy conservation consulting across the United States. A former teacher turned energy entrepreneur, Esteves said she felt called back to the classroom when she first heard about INVEST during a presentation by Tom Keane, professor of chemistry and faculty liaison for INVEST. It was Keane's enthusiasm that made her want to be a student again.

"Not only is a business-science incubator like INVEST not available on any other women's college campus, on co-ed campuses it is rarely available at the undergraduate level," said Esteves, who emphasized that INVEST will provide opportunities for faculty and students to learn about nanoscience research and entrepreneurial business development from a variety of perspectives. "All students, whether or not science is their 'thing', stand to benefit from INVEST."

Economic Stimulus: Educational Importance

Evident Technologies, headquartered in Troy, is a pioneer and world leader in the development of quantum dots -semiconductor nanomaterials engineered to enable the creation of advanced products for numerous markets including life sciences, solid state lighting, energy, security, telecommunications and emergent nanotechnology markets.

Evident anticipates the company will add 32 jobs in its first year of operation in the incubator, including 15 new lab technicians. That number of jobs is expected to double over the course of the three to five years Evident plans to remain in the incubator.

As an emerging company that has been successful in business as well as scientific development, Evident can help Sage understand the needs of future start-up companies that will occupy the incubator space and help Sage prepare to meet those needs for future tenants.

"At Evident, we develop cutting-edge quantum dot-based nanomaterials that can be used to create important new products for many different markets," said Clinton Ballinger, Ph.D., President and Chief Executive Officer of Evident Technologies. "Our pioneering, multi-disciplinary approach is a perfect fit for Sage, which was a pioneering institution from its start 90 years ago and which has always emphasized the practical applications of knowledge."

Evident has strong intersections with Russell Sage College programs in chemistry, biochemistry and forensic science, and with the College's innovative business major that develops strong management skills with an emphasis on corporate social responsibility.

Retrofitted & Renovated

The three main floors of John Paine Hall, a building at the center of the historic Russell Sage campus, have been renovated for use by Evident and its successor businesses. The upgraded facilities are located immediately adjacent to Sage's Science Hall and include occupant-ready laboratory facilities for Evident. A glass-walled bridge and elevator connects the two buildings and on the third floor leads to the Chemistry department, which will see renovations to its biochemistry and physical chemistry laboratories.

INVEST will help to fill the growing regional need for incubator space, a model that has proven to be successful in promoting cross-fertilization of ideas and new technologies among businesses and universities. The initial partnership with Evident will support the company's next stage of growth; when Evident needs a larger facility, the INVEST incubator will be ready to accept new tenants.

December 8, 2005

A Groundbreaking Event for Women in Science
Senator Bruno, Sage President, Dignitaries Break Ground for INVEST at Sage; Nanotech Incubator a National First for a Women's College

TROY, NY - State Senate Majority Leader Joseph L. Bruno, Jeanne H. Neff, President of the Sage Colleges, and representatives from Evident Technologies, Inc. broke ground today on the $5 million Incubator for Nanotechnology Ventures, Emerging Sciences, and Technologies - INVEST at Sage. The INVEST incubator is the first of its kind nationally to be located at a women's college.

Senator Joe Bruno, Sage President Jeanne Neff, and other leaders break ground at the site of INVEST at Sage on Dec. 8, 2005.

In June, Senator Bruno announced $2.5 million in funding to create INVEST at Sage with Evident Technologies as the founding partner and first tenant. The $2.5 million from Senator Bruno will be coupled with $2.5 million in private funding for the facility, which will help technology companies grow and expand while advancing Sage's programs in science and technology.

"Today's groundbreaking is great news and represents a major accomplishment toward our efforts to transform the Capital Region into a 21st Century global leader in nanotechnology," said Senate Majority Leader Joseph L. Bruno. "INVEST at Sage is a major investment that will attract businesses that utilize these emerging technologies to develop cutting-edge products, create new jobs, and generate economic growth throughout Tech Valley. It shows what can be achieved when the public, private sector and the academic community work together."

Retrofit & Renovate

The top three floors of John Paine Hall, a building at the center of the historic Russell Sage campus, will be renovated for use by Evident and its successor businesses. The upgraded facilities will be located immediately adjacent to Sage's Science Hall and include occupant-ready laboratory facilities for Evident in John Paine and two updated chemistry labs for Sage. A glass-walled bridge construction will connect the two buildings.

Architect's rendering of glass atrium connecting Science Hall and John Paine Hall, home of INVEST at Sage.

INVEST will help to fill the growing regional need for incubator space, a model that has proven to be successful in promoting cross-fertilization of ideas and new technologies among businesses and universities. The initial partnership with Evident will support the company's next stage of growth; when Evident needs a larger facility, the INVEST incubator will be ready to accept new tenants.

Economic Stimulus: Educational Importance
Evident Technologies, headquartered in Troy, is a pioneer and world leader in the development of quantum dots -semiconductor nanomaterials engineered to enable the creation of advanced products for numerous markets including life sciences, solid state lighting, energy, security, telecommunications and emergent nanotechnology markets. Evident anticipates the company will add 32 jobs in its first year of operation in the incubator, including 15 new lab technicians. That number of jobs is expected to double over the course of the three years Evident plans to remain in the incubator.

As an emerging company that has been successful in business as well as scientific development, Evident can help Sage understand the needs of future start-up companies that will occupy the incubator space, prepare to meet those needs, and can offer interns, students and faculty the perspective of an experienced five year old company.

Three Russell Sage College women are already employed at Evident or serving as interns. Kayla Leach (RSC '05) was the first Sage student to intern at Evident. Before her internship was over, she was offered a full time job in technical inside sales for Evident's Life Science products. Darcie Palmer, a senior biochemistry major and Nicole Surace, a senior chemistry major are both interns at Evident. Read more about Russell Sage students invested in science at: www.sage.edu/rsc/invest/students/

Honors & Accolades
Evident recently received the nano-industry's top honor--Frost & Sullivan's 2005 Technology Innovation Award for development of T2-MP EviTags (tm). EviTags are quantum dot-based fluorescent labels that enable myriad and novel life science applications, from clinical diagnostics to cell microscopy to bio-threat detection.

President Neff has been named to the Tech Valley "Hot 10" list, released Dec. 2 by the Albany-County Regional Chamber of Commerce, as an agent for transformational change in higher education and as a leader in the economic development of Tech Valley.

"The incubation of a business requires the technology, of course, but is also dependent on capabilities to market and sell products and raise money to support the growth of the business," said Neff. "INVEST at Sage is more than laboratory space, it is a place where all the disciplines come together to study the inner workings of a science and technology-focused enterprise. This is consistent with Sage's long tradition of learning for application in the real world."

Evident is a role model for progressive business practices. Sage appreciates Evident's commitment to education, as well as its "open-source mindedness"--the willingness to freely share scientific information. Such a collaborative approach fuels scientific innovation and discovery. For example, The Evident Nanotechnology Web(tm) Program is a no-charge, unique offering, developed to support higher education institutions with research opportunities in the nanosciences.

"Evident's growing success is built upon individual innovation, a strong management team and partnering with best-in-class research institutions, universities and companies," said Clinton Ballinger, Ph.D., CEO of Evident. "This multidisciplinary approach, which made us a leader in the development and manufacturing of quantum dot nanomaterial systems, can provide Sage students and professors with hands-on ways to link science and business and accelerate the development of start-up companies."

Evident has strong intersections with Russell Sage College programs in chemistry, biochemistry and forensic science, and with the College's innovative business major that develops strong management skills in a context of social responsibility.

Important Pipeline Programs for Women in Science
In addition to enhancing science education at Russell Sage College, which is consistently ranked one of the top 10 comprehensive colleges in the Northeast by U.S.News & World Report, the INVEST incubator will have links to Russell Sage's successful GEMS program - Girls Excited about Engineering, Math, and Computer Science - for middle and high school girls, aimed at increasing the number of girls and women studying and entering technical careers in engineering, mathematics, and science.

Another attractive option for young women with talent in science, math, and engineering is the Early College at Russell Sage, one of only two such programs in the U.S. for young women ready for college after their junior year of high school or the equivalent in home schooling.

June 17, 2005

New York INVESTs in Sage, Science and Women Nanotech Incubator Would Be The First On A Women's College; Evident Technologies Commits to Be First Tenant

TROY, NY -- On Friday, June 17, Senate Majority Leader Joseph L. Bruno announced $2.5 million in funding to create INVEST, an Incubator for Nanotechnology Ventures, Emerging Sciences, and Technologies, a joint nanotechnology incubator with Russell Sage and Evident Technologies. Located at Russell Sage College in Troy, this facility will be the first of its kind nationally at a women's college.

The $2.5 million from Senator Bruno will be coupled with $1.5 million in private funding to help high tech companies grow and expand while advancing Sage's science and technology programs.

Evident Technologies of Troy, committed to being the first tenant, projects having 32 jobs in the first year of operation in the Incubator, including 15 new lab technicians, and the number is expected to double over the course of three years.

"This project will build on our continuing efforts to make Troy and the Capital Region, birthplace of the American Industrial Revolution, the heart of the emerging technologies industries of the 21st century. It will be an important next step in developing Tech Valley," said Senator Bruno. "It is another positive example of the good things that can happen when the public sector, private enterprise and academic institutions work together to make innovative ideas reality. This investment will help cutting edge businesses develop their products and create jobs, while it enhances Russell Sage's reputation as one of finest colleges for women in the nation."

"The impact of this facility will be far-reaching," said Jeanne Neff, president of The Sage Colleges, "as it enriches our educational environment and contributes to the development of the waterfront area south of campus where we hope to see similar businesses and research facilities established over time. Its location at Russell Sage also makes clear that women can do science!"

"Evident has grown up in downtown Troy, and we are happy to help the growing entrepreneurial spirit of the city by being part of INVEST at Sage," said Clinton Ballinger, Ph.D., CEO of Evident. "While continuing to successfully grow our own company, we can also help faculty, staff and students better understand how to create successful technology companies. We have learned that it is not just breakthrough science or technology that makes a company successful. It is also strong business strategies, marketing, sales and financial management, and we plan on sharing our field-tested knowledge in these areas.

The funds will be used to retrofit John Paine Hall, a building at the center of the historic Russell Sage campus, into an incubator for use by technology businesses that would be linked to programs at the college. The upgraded facilities will be located immediately adjacent to Sage's Science Hall and include a new connector "bridge", occupant-ready laboratory facilities for Evident in Paine and two new state-of-the-art chemistry labs for Sage.

RSC grad and Evident employee Kayla Leach, RSC '05, is interviewed by a reporter about INVEST.

In addition to complimenting the applied education approach utilized at Russell Sage College, which is consistently ranked one of the top five comprehensive colleges in the Northeast by U.S. News & World Report, the new incubator and its facilities would build on Russell Sage's successful GEMS program -- Girls in Engineering, Math and Science -- for middle and high school girls aimed at increasing the number of girls and women studying and entering technical careers in engineering, mathematics, and computer science.

The move will help fill the growing need for incubator space in the Capital Region, which has proven to be successful in promoting a cross cultivation in ideas and new technologies from businesses to academia.

Evident Technologies, headquartered in Troy, is a pioneer and world leader in the development of quantum dots -- semiconductor nanomaterials engineered to enable the creation of advanced products for numerous markets including life sciences, solid state lighting, energy, security, telecommunications and emergent nanotechnology markets. Additional companies will be added over time.

"This investment at Russell Sage is very similar to the investment made 10 years ago that created a high tech incubator at the former Sterling Winthrop facility in East Greenbush that has resulted in the creation of thousands of new jobs and dozens of growing businesses," said Senator Bruno. "I strongly believe this new investment will be another tremendous success for the economy of the Capital Region."

CONTACT: John McArdle or Matthew Walter, (518) 455-2264