Empire State Development Announces Weill Cornell Medicine And University At Albany As Recipients Of New York Global Entrepreneurs Program Grants

Funding Will Establish Global Entrepreneurs in Residence Programs to Retain Highly Trained International Founders in New York State

Empire State Development (ESD) today announced Weill Cornell Medicine and the University at Albany as the inaugural grant recipients for the New York Global Entrepreneurs Program (NYGEP). Administered by ESD’s Division of Science, Technology & Innovation (NYSTAR), the program aims to attract and retain the most promising international founders launching innovative startups in New York instead of taking their skills and knowledge elsewhere due to limitations on visa availability. Through the NYGEP, selected institutions will establish or expand Global Entrepreneurs in Residence (GEIR) Programs.

ESD President, CEO and Commissioner Hope Knight said, "New York’s ability to attract and keep the brightest minds from around the globe is a core driver of our economic success. The New York Global Entrepreneurs Program ensures that talented international founders have the support and visa pathways needed to build and scale their cutting-edge companies right here in the Empire State. By partnering with Weill Cornell Medicine and the University at Albany, we are keeping world-class talent in New York, boosting our innovation economy, and creating the jobs of the future."

As H-1B cap-exempt employers, these universities will sponsor participating founders through part-time employment, providing mentorship, guidance, and access to workspace as they establish and grow their ventures. The program also enriches the academic environment by creating unique opportunities for students to engage directly with and learn from these experienced entrepreneurs.

The NYGEP awardees are:

• Weill Cornell Medicine (New York City): This award establishes a premier GEIR program to anchor international talent within the state’s life sciences ecosystem. By providing visa support and access to Weill Cornell Medicine’s world-class clinical infrastructure and "BioVenture eLab," an essential component of Weill Cornell Medicine Enterprise Innovation. Enterprise Innovation translates Weill Cornell discoveries into patient impact through entrepreneurial education for faculty and trainees, sourcing collaboration and investment, technology licensing and commercialization, and startup launches. The GEIR program will accelerate the commercialization of breakthrough technologies in therapeutics, medical devices, and digital health. Weill Cornell Medicine features a high-functioning entrepreneurship infrastructure and a highly sophisticated, compliant plan for H-1B cap-exempt sponsorship.
   
• University at Albany (Capital Region): This award expands the Research and Innovators Startup Exchange (RISE) to create a robust, long-term pathway for retaining international entrepreneurs within the New York innovation corridor. The program provides a structured framework that allows founders to transition from academic research to the leadership of high-growth companies in critical sectors such as artificial intelligence, semiconductors, and nanotechnology. By integrating NYGEP into its RISE Fellowship, UAlbany provides a clear pathway for identifying top talent while leveraging the resources of existing NYSTAR assets, such as the SUNY Research Foundation, to expand its impact across the Capital Region.

Weill Cornell Medicine Senior Associate Dean for Research Dr. Hugh Hemmings said, "Rooted in the thriving biomedical hub of New York City’s Upper East Side, Weill Cornell Medicine has attracted researchers and clinicians from across the globe who are dedicated to innovating and making tangible patient impact. We are uniquely positioned to take advantage of the biotech and business resources within the city to translate scientific breakthroughs into better healthcare. With the Global Entrepreneurs in Residence program, Weill Cornell Medicine can expand our entrepreneurial talents and contribution to the New York State economy."

University at Albany Vice President for Research & Economic Development Thenkurussi "Kesh" Kesavadas said, "The greatest potential for the scientific and technological innovation that happens at UAlbany to benefit the public lies in ensuring those innovations get out of our labs and into the marketplace. UAlbany’s RISE program has taken off so rapidly because it taps into the entrepreneurial spirit that thrives across our campus and the Capital Region, and we are grateful for forward-thinking partners like Empire State Development that recognize the power of that spirit and are committed to nurturing it with strategic investments like this one."

The program was appropriated $4 million in the FY25 New York State Budget. Each selected entity can receive a maximum grant amount of $1.5 million for a four-year term. To build long-term economic impact, founders supported by the program are expected to maintain their business operations in New York for no fewer than three years following the completion of the program. Participating institutions will sponsor founders through part-time employment and file cap-exempt H-1B visa petitions on their behalf. During this period, founders will receive part-time employment, mentorship, institutional support, and access to workspace as they establish and grow their ventures.

While employed by the sponsoring institution, founders will concurrently pursue an H-1B visa through their own company, enabling independence while continuing to secure investment and scale operations within New York State. 

About Empire State Development

Empire State Development is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through I LOVE NYinno. For more information, please visit esd.ny.gov, and connect with ESD on LinkedIn, Facebook and X.

About ESD’s Division of Science, Technology and Innovation (NYSTAR)

Empire State Development’s Division of Science, Technology and Innovation – known as NYSTAR – advances technology innovation and commercialization in New York State. NYSTAR offers programs that assist companies from start-up through maturity, leveraging the state’s unparalleled investment in world-class technology assets and expertise. It provides about $70 million annually in funding to support over 80 centers that provide direct assistance to New York State companies — a network of vital assets for enabling technology — and manufacturing-led growth and job creation. NYSTAR and its partners are proud to contribute to New York’s leadership in the global innovation economy. For more information, visit esd.ny.gov/nystar.

About Weill Cornell Medicine 

Weill Cornell Medicine is committed to excellence in patient care, scientific discovery and the education of future physicians in New York City and around the world. Since 1898, our doctors and scientists have been engaged in world-class clinical care and cutting-edge research that connect patients to the latest treatment innovations and prevention strategies. Weill Cornell Medicine's powerful network of collaborators extends to its parent university Cornell University; to Qatar, where Weill Cornell Medicine-Qatar offers a Cornell University medical degree; and to programs in Tanzania, Haiti, Brazil, Austria and Turkey. Weill Cornell Medicine faculty provide exemplary patient care at NewYork-Presbyterian/Weill Cornell Medical Center, NewYork-Presbyterian Westchester Behavioral Health Center, NewYork-Presbyterian Lower Manhattan Hospital, NewYork-Presbyterian Queens and NewYork-Presbyterian Brooklyn Methodist Hospital. Weill Cornell Medicine is also affiliated with Houston Methodist. For more information, visit weill.cornell.edu.

About the University at Albany

The University at Albany is a Carnegie-classified Research 1 institution driven by academic excellence, pioneering research and scientific discovery, and service to community. UAlbany’s world-class faculty experts and students are creating new knowledge in fields such as artificial intelligence, semiconductor engineering, atmospheric and environmental sciences, cybersecurity, public health, public administration and social welfare while deepening our understanding of our world through scholarship and creative activity in the social sciences and humanities. As one of the most diverse public research institutions in the nation, the University is a national leader in educational equity and social mobility. For over 180 years, UAlbany has molded bright, curious and engaged students and launched them toward success. 

Contact:
ESD Press Office | [email protected] | (800) 260-7313