NYU Tandon Incubators ends the year with a survival rate of nearly 90% and with its graduates having had an economic impact of approximately $352m since its inception.
The business incubators run by the New York University Tandon School of Engineering ended 2015 with a survival rate of nearly 90%.
Of the 64 startups that enrolled in the incubators in 2015, 56 remained at the end of the year. This is in contrast to the usual survival rate of startups of 10-20%, as reported by Startup Genome, a non-profit organisation measuring startup statistics.
Since 2009, NYU Tandon Incubators have created more than 1250 jobs, raised more than $175m in funding and had an economic impact of approximately $352m.
Kurt Becker, vice-dean for research, innovation and entrepreneurship at Tandon, said: “Behind this record of longevity are a number of factors that NYU Tandon Incubators employ while nurturing early-stage startups – from the careful selection of applicants with strong potential and alignment with the research strengths of the university to a broad range of services that NYU and a select group of partners provide.
“During 2015, we began a shift in strategic direction by complementing our proven early-stage nurturing with new, rigorous procedures to better prepare graduating companies for their next stage of growth.
“You will see us accelerating these efforts in 2016 with an increased emphasis on one-on-one mentoring focused on marketing, accounting, gaining access to customers, and connecting to capital and the investor community.”
