The Incubation, Commercialization and Acceleration Network of New York (iCANny) is the oldest continuously operating business and technology incubator serving the Mid-Hudson Valley between Westchester and Albany. Since 2005, iCANny (formally the Hudson Valley Center for Innovation Inc.) has been supportive of both start-ups and mature enterprises by providing expert mentoring and advisory services as well as a curriculum to commercialization.
iCANny has helped launch dozens of businesses during the last decade and has the skills to guide entrepreneurs in their quest to locate the right financial and other resources to successfully launch a new endeavor. Besides a comprehensive, professional business plan, the startup business also needs the following, before applying to a venture capitalist, angel investor, or other funding source:
- Evaluation of resources;
- Traction, in the form of sales, publicity, written commitments or agreements to purchase products/services;
- Passion, revealed in the desire and actions of the entrepreneur to succeed.
Writing a Winning Plan
I. The Challenges: Situational Analysis
Market opportunity issues and pain points now (costs, distribution, limits, constraints) that our plan is addressing
New technology, unique business concept
How we solve the problems in the market
III.Magic of Your Business Solution
IP, Technology, or secret sauce
Markets, segments, players, applications, targets, products, sales
V. Moneymaking Model
Business model for cash generation
Cash Flow generation
VI. Competition (and Solution Differentiation)
Existing players and approaches
Alternate solutions already deployed or being developed by others
Why we’re better and will succeed (the winning unique difference)
Experience of team
Why we are worth backing and will succeed
Financial projections, investment, returns, sources & uses of funds
IX. Potential Risks andMitigation Strategies
What could go wrong
What we need to do to prepare for what could go wrong
How we’ll handle unexpected activities
Contingency plans and Flexibility
X. Status and Next Steps
Where we are now and where we want to go
Gaps we need to Ill, and the plan for filling these gaps
Key issues and timetables, next steps and follow up actions
What the potential investor needs to do to invest
Here are several free tools that you can use to 1) inventory the resources you have, 2) identify the objectives and strategies you plan on using, and 3) determine the unique aspects of your business that can help differentiate you from potential competitors in your market segment.
iCANny is committed to growing the regional technology ecosystem and supporting region-wide economic development with an emphasis on the commercialization of products and services in; alternative energy; cleantech; fintech; scalable digital business; bio-pharma / medical and healthcare.
iCANny, as designated by Empire State Development Corporation, is one of only 10 Certified Business Incubators statewide; is a partner in iCLEAN, one of only six NYSERDA (New York State Energy and Research Development Authority) supported energy and cleantech incubators; a collaborator of the New York Medical College sponsored BioInc incubator and Empire State Development Corporation designated Innovation Hot Spot; a founding member of the New York State Business Incubator Association (NYSBIA) and iCANny has formed an alliance with the Westchester Angels.
Since 2005, The Hudson Valley Center for Innovation Inc. (dba iCANny) has been the only continuously operating technology incubator serving the seven-county Mid-Hudson Valley (from Westchester to Albany). From our founding, the HVCFI Board of Directors and its Managing Director (Les Neumann) stated that the emphasis of HVCFI would be on the development and commercialization of innovative technologies with a specific concentration on renewable energy.
The Mid-Hudson Region has the highest concentration of citizens in NYS who have attained bachelor’s degrees (37%) and who hold Graduate degrees (17%); the seven-county Mid-Hudson Region had the fastest growth of all 10 NYS economic regions at 5.1% from 2000 to 2010. Unlike other areas of the State, however, the Mid-Hudson Region is not buoyed by an academic institution with a concentration of respected world renowned degreed curriculums in technological research and development and engineering with a noteworthy and influential alumni such as RPI. Consequently, iCANny collaborates with selected academic partners when the opportunities arise, on behalf of clients.