UTICA–On Monday, Oneida County officials announced initial investment in a new economic program aimed at spurring new business, and entrepreneurship.
Oneida County Executive Anthony Picente announced the county’s partnership with ‘Innovation Collective’ during a press conference at Mohawk Valley Community College’s ‘ThINCubator’–a local entrepreneurship collaborative.
Innovation Collective says they plan to bring together think tanks, hold idea-sharing sessions and mentoring summits.
“What kind of talent do you need? How can we help develop that kind of talent? What kind of education programs can we put together with the community colleges? What kind of education programs can we put together with large corporations?…”Chris Cochran (Global Director of Communities, Innovation Collective)
Special economic initiatives already exist in the county.
Mohawk Valley Edge acts as a conduit for outside businesses to be brought in, and to help existing businesses expand. The ThINCubator helps entrepreneurs get their start. So, how does Innovation Collective differ?
“This one is, really more, investing in ideas that can turn into an economic initiative and an economic engine, of sorts.”
Question: Doesn’t that already happen at the ThINCubator?
“It does, but not to the extent that we can do if we have other expertise building out.”Oneida County Executive Anthony Picente answers questions about Innovation Collective
The county and MVCC say they are paying for the majority of initial investments for the program–$150,000.
Officials search for more private investment; noting it will take $350,000 annually to support Innovation Collective.