Just one year ago last April we launched Saratoga’s only entrepreneur incubator and accelerator, Spark Saratoga. It’s goal was to promote and retain talent iwith support of our many skilled members. The Spark Saratoga platform is now leveraging professional resource partners, mentors and access to financial resources for 40 project teams. These projects cover the spectrum of industry sectors and range of entrepreneurs from recent college grads to second or third career professionals. What unites us is that common spark to drive better solutions and make an impact across our region and beyond.
Innovate 518, the Capital Region’s Innovation Hotspot, is a collaborative effort of incubators, accelerators and entrepreneurial service providers working together to support startups and early-growth companies throughout the eight county region. Recently, Spark Saratoga became an Affiliate Partner Incubator. Spark Saratoga and their tenant companies are now eligible for the New York State tax exemptions available to program participants.
This means our accepted project companies that continue to make progress toward becoming revenue generating companies can become certified for state tax incentives. The advantages include 5 years of exemption from New York State corporate income tax and sales tax on purchases. Partners can also deduct their earned income from company income. This is another way that Spark Saratoga is actively cross-leveraging our regional assets to help driven entrepreneurs solve problems and thrive.
Please contact our Director, Ryan Van Amburgh (firstname.lastname@example.org), with any questions. If you or someone you know has a vision for a startup company, or an idea underway in need of support to accelerate its growth, please refer them to www.SparkSaratoga.com. That’s how we promote and retain talent for next generation growth. The Capital Region is a hotspot for entrepreneurs and Saratoga is a key part of it.