Research Foundation Creates
New Entities to Drive Invention to Market
Takes Action to Advance Strategic Goals

Contact: Peter Taubkin
Office of External Relations
The Research Foundation of State
University of New York
35 State Street, Albany, NY 12207
peter.taubkin@rfsuny.org
518-434-7063

For Immediate Release 
Date: September 13, 2010

Albany —  At its September 8th board of directors meeting, The Research Foundation of State University of New York (RF) took action to strengthen its operational structure and advance its strategic goals in alignment with the Power of SUNY.

The RF moved its Strategic Plan forward by creating two new corporations that will accelerate the movement of SUNY inventions to the marketplace and facilitate the formation of collaborative partnerships that drive economic development.

  • Binghamton Center for Emerging Technologies (“BCET”) – BCET is a private, not-for-profit corporation that will work in partnership with Endicott Interconnect Technologies and the RF, with support from Binghamton University’s Small Scale Systems Integration and Packaging (S³IP) Center, to fulfill technical needs of the Department of Defense and other federal agencies at an accelerated pace.
  • Entrepreneurial Innovation, Inc. (EII) – EII is a private, not-for-profit corporation that will provide bridge funding on a competitive basis to further develop highly promising and innovative SUNY technologies that address an existing or emerging market opportunity.

“Both of these initiatives link to SUNY and the Entrepreneurial Century, one of the Six Big Ideas in our strategic plan, and underscore the role that research must play in driving our economy,” said SUNY Chancellor and RF Board Chairperson Dr. Nancy L. Zimpher. “The increased research and innovation that emerge from these new ventures will help us realize our strategic priorities of revitalizing the state's economy and enhancing the quality of life in our communities."

The RF board also appointed Adam C. Gibbs as senior vice president and chief financial officer (CFO) for the RF. Mr. Gibbs previously served as the RF’s interim CFO. Mr. Gibbs will continue to be responsible for managing the corporation’s revenues, cash flow, investments, banking and the development and maintenance of a financial accounting system.

“We are pleased to welcome Adam once again to the RF, this time as senior vice president and CFO,” said RF President John O’Connor. “Adam is a highly accomplished financial professional whose leadership, project management and interpersonal skills will help advance the RF’s strategic plan and realize cooperative opportunity.” Adam’s four month term as interim CFO gave us the chance to realize we had the right person to join our team.”


ABOUT THE RESEARCH FOUNDATION

The Research Foundation of State University of New York (RF) is the largest most comprehensive university-connected research foundation in the country. The RF and its affiliated corporations administer over $1 billion in research funding and facilitate university-industry-government partnerships to accelerate the growth of sponsored program and applied research opportunities at SUNY.

The RF is a private nonprofit educational corporation that provides SUNY faculty, students and staff with the support and flexibility necessary to focus on research and other sponsored programs funded by federal and state governments, private sector companies and nonprofit foundations. Areas of research and associated initiatives encompass a vast range of disciplines including life sciences and medicine; engineering and nanotechnology; physical sciences and energy; social sciences; and computer and information sciences as well as training and education programs.

RF staff work with academic and business leadership to support essential research and discovery that translate into invention, innovation, entrepreneurship, economic opportunity and public benefit. RF research initiatives across the state are at the core of the Power of SUNY. For more information about the RF visit www.rfsuny.org. For more information about the Power of SUNY, visit www.suny.edu.