Sep 2 2013
Congressman Steve Israel (D-Huntington) visited Port Washington, N.Y.-based energy technology company WATT Fuel Cell Corp. (WATT) as part of yesterday’s Startup Day Across America, a national day dedicated to raising awareness of startup companies and job creation to catalyze support for the local entrepreneurial community.
WATT is an example of a successful and established startup company that is creating high-skilled jobs on Long Island.
“WATT reflects Long Island’s tradition of innovation and entrepreneurship,” said Rep. Israel. “Small business startups are the backbone of our economy and create millions of good-paying American jobs. I will continue to fight for policies that spur the growth of innovative businesses and organizations like Accelerate Long Island, and I wholeheartedly support Startup Day Across America, which highlights their achievements.”
“WATT exemplifies the type of company that can spur significant U.S. job creation in the growing ‘green collar’ sector,” said Dr. Caine Finnerty, president and CEO of WATT Fuel Cell Corp. “It is essential for the U.S. to be competitive in the clean-tech and new energy generation markets in order to remain a world leader in technology innovation. Our company has developed and is now advancing the commercial availability of a game-changing energy generation technology, and this has in part been made possible by the support of our local elected officials.”
“Startup companies are using technology to solve problems and to create innovative new products and services,” said David Calone, CEO of venture capital firm Jove Equity Partners, board member of Accelerate Long Island, and one of the organizers of the bipartisan Congressional Caucus on Innovation and Entrepreneurship. “They are vital to economic and job growth on Long Island and around the country. I want to thank Congressman Israel for joining with dozens of other elected officials by participating in Startup Day Across America to raise awareness about innovative companies in their region and to discuss how our government can be more supportive of start-up ventures and the risk-taking entrepreneurs who start them.”
“Under Dr. Caine Finnerty’s leadership, WATT Fuel Cell is an example how a startup company can quickly become successful, invigorate the economy and bring a groundbreaking technology to market,” said Mark Lesko, executive at Accelerate Long Island. “I thank Congressman Steve Israel for being a leader in innovation, especially when it comes to new clean energy technologies.”
"Startup Day Across America represents, on a national level, what we are trying to accomplish on a local level here in Long Island,” said David Hamilton, director of business development for the Clean Energy Business Incubator Program (CEBIP) at Stony Brook University. “CEBIP has a mission to work with clean energy technology start-up companies to help them bridge the gap between innovation and commercialization, with the ultimate goal of developing a strong, ‘green’ ecosystem that will result in thriving businesses with high level, and high paying jobs. WATT should be considered a prime example of how successful an emerging technology business can be here on Long Island."
Based in Port Washington, WATT Fuel Cell Corp. is a developer of solid oxide fuel cell (SOFC) systems that operate on readily available fuels like natural gas, propane, and various other renewable liquid and gaseous fuels. WATT’s products provide efficient, affordable, and environmentally responsible energy solutions for a range of applications in the portable power and distributed-generation energy markets.
WATT Fuel Cell is also part of the Clean Energy Business Incubator Program (CEBIP) at Stony Brook University. Funded by the New York State Energy Research and Development Agency (NYSERDA) and working through the Long Island High Tech Incubator at Stony Brook University, CEBIP has been in operation since October 2011, providing assistance and resources for developers of renewable and clean-energy technologies. Through the expertise, business acumen and technological resources of CEBIP’s management team, advisory board, researchers at Stony Brook University and other extensive partnerships, CEBIP helps bridge the gap between innovation and market with a full commitment to helping entrepreneurs develop and commercialize clean-energy technology.
CEBIP provides resources for clean-energy innovators that include mentorship at various stages of entrepreneurial development, guidance for business and strategic plans, and assistance in preparing for and locating funding opportunities. CEBIP’s goal is to develop a successful clean-energy economy on Long Island, creating high-paying “cleantech” jobs and industry within Long Island and New York State.
Accelerate Long Island was created in 2011 and is a regional collaboration of Long Island’s world class research institutions and its business community to foster the development of an innovation-based economy. Accelerate Long Island provides support to early stage high technology startups through Accelerate Funding, Accelerate Assist and Accelerate Ecosystem. For more information, visit www.accelerateli.org, twitter: @AccelerateLI.
Startup Day Across America was created to highlight the success of small businesses, which have produced 100 percent of the net job growth over the last 20 years, and startup companies, which are producing an average of 3 million jobs annually. According to Startup America, nationwide, 27 percent of startups are owned by women and 33 percent of startups are owned by minorities. Also, the organization states that raising awareness of the innovation and entrepreneurship in U.S. communities will fuel job growth and help move the country toward a full economic recovery. Startup Day Across America was organized by the bipartisan Congressional Caucus on Innovation and Entrepreneurship and Congressman Israel is a member of this caucus.
Press release avilable from http://www.businesswire.com/