SCI² is: 1) a commercialization accelerator for early stage companies seeking funding, intellectual capital, business development expertise, and potential strategic relationships with Fortune 1000 companies that results in 2) jobs and economic development in Westchester and in lower Manhattan, and thereby “Leveraging Pace University’s Knowledge Capital for Businesses & Communities.”
With its rich pool of intellectual resources, SCI² is the lower Hudson Valley’s number one commercialization accelerator for early stage businesses. 40% of Pace University’s 14,000 students are scholars in its Lubin School of Business. Another 20% of Pace’s students are enrolled in the School of Computer Science and Information Systems. SCI² will maintain accelerator sites both in Yonkers and in lower Manhattan—within walking distance from the World Financial Center.
Early stage companies which have developed through the use of university accelerators, such as SCI², have enjoyed far more success than non-university accelerators. According to a March, 2003 National Business Incubator (NBIA) survey, “Academic Institutions were the most common incubation program sponsor … In 2001 alone, North American Incubators assisted more than 35,000 start-up companies that provided full-time employment for nearly 82,000 workers and generated annual earnings of more than $7 billion.” The current incubator growth trend is strongly upward.
SCI² is located in one of the world’s fastest growing areas! Westchester County was recently ranked nationally 17th overall – 3rd in the Northeast—1st in the Tri-state area—in Inc. Magazine’s 2004 “Top 25 Cities for Business”. Pace University, renown for its productive and distinguished faculty and alumni—especially those from its business and computer science schools— maintains the only university, and the largest institute of higher education, in Westchester.