The Faculty Development Program assists institutions of higher education in New York State to recruit and retain leading research faculty in the fields of science and technology. The Faculty Development Program is intended to provide interim state assistance to generate a long-term commitment by the academic institution to the funded entrepreneurial research endeavor. State funds will be provided to enhance the research environment of New York academic institutions in order to attract stellar research faculty. Such faculty are intended to: (a) pursue entrepreneurial enterprises resulting in new businesses or the expansion of existing businesses in New York State; (b) enhance the research capabilities and reputation of their respective academic institutions; and (c) leverage and attract federal funds, venture capital, and private industry funds. The goal of the resulting faculty research teams is to spur economic development in New York through their high technology initiatives.
Consideration for the allocation of awards shall be given to institutions of higher education within the State which satisfactorily demonstrate:
- A specific need for such funds; and
- The manner in which such award would enhance the research capabilities and reputation of the respective academic institution.
Awards will be for a term no greater than five years subject to availability of funds and continued satisfactory performance.
NYS Foundation for Science, Technology & Innovation
30 South Pearl Street, 11th Floor
Albany, New York 12207