Albany a Nanotech Hotspot

An article in yesterday’s Wall Street Journal singled out Albany, N.Y. as the place for the growing nanotech industry. “Location matters”, the article says, and being in the right place can mean thriving industry, despite the economic recession.

“Where the Action Is” highlighted areas of the United States that are growing hubs for specific industries. Regarding Albany, Emily Maltby reported:

The capital of New York state is becoming a big player in a field that deals with small things—nanotechnology. The city now boasts more than 4,000 people in the industry, centered on the College of Nanoscale Science and Engineering at the University at Albany.

The school has doubled in size during the recession to its current 800,000-square-foot complex. Dozens of nanotechnology companies have established a presence there to take advantage of research facilities and business incubators; since 2008, nearly 50 new start-ups have launched within its walls.

“The prestige of being here and the credibility is amazing, which helps when you are talking with VCs and investors and large companies,” says Primal Fernando, CEO and chief technology officer of Resource Management Technology Systems Inc., which moved to Albany from La Junta, Colo., last year. “And the equipment available here is not available elsewhere.”

“Venture capital has been growing to feed the innovation,” says Alain Kaloyeros, a physics professor and senior vice president of the college. “Suppliers and law firms are moving to the region to support this ecosystem, so it will be quite an exciting venture to watch.”

Read the full article: “Where the Action Is”, Wall Street Journal, August 22, 2011.

Located in the heart of “tech valley“, Albany, NY, is the hot place to be for tech firms. The Downtown Albany Business Improvement District reported last week that tech firms WhoSay and QED National have opened new offices in downtown Albany and that Microsoft has invested nearly $1 million into expanded office space.

At 17 Chapel, downtown Albany can be your address for a tech startup and your new condo home!