The Bridge Will Pair RPI Ideas and Talent with County Resources
February 19, 2025
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Rensselaer Polytechnic Institute (RPI) and Rensselaer County are teaming up to launch a revolutionary business accelerator in downtown Troy to encourage investment, invention and entrepreneurship, RPI President Martin A. Schmidt ’81 Ph.D. and County Executive Steven F. McLaughlin announced today.
Through the partnership, RPI will guide intellectual property and emerging talent to space and resources provided by the county to foster growth of new technology and business in the county and city.
“This represents an historic partnership between Rensselaer County and Rensselaer Polytechnic Institute to encourage the next generation of inventors, innovators and entrepreneurs to start here and stay and grow here. The partnership announced today is the start of a new and important chapter in growing Rensselaer County as a center of technology and innovation,” said McLaughlin.
“RPI is thrilled to partner with Rensselaer County in launching this initiative dedicated to fostering innovation, advancing technology and improving lives. The Bridge is a unique accelerator for the region in that it will focus on supporting ‘Tough Tech’ start-ups,” said Schmidt.
Tough tech start-ups are companies that typically require significant capital even in the early stages as they develop technologies for sectors like energy, biotech, and manufacturing. The Bridge is designed to support these types of companies by creating shared experimental facilities in one central location, but also facilitating access to a network of experimental assets throughout the Capital Region should they be at a university, a non-profit, or a company. The Bridge will also work to gather investors and mentors who work in tough tech industries.
The Bridge will occupy the top floor of the historic Quackenbush Building at 333 Broadway in historic downtown Troy, within sight of the RPI campus and The Approach that connects campus with city.
This new partnership continues RPI’s legacy of enabling high-tech ventures in the Capital Region. RPI created the first university-run incubator in the United States in 1979, and it helped spawn several impactful companies including MapInfo, Etransmedia, GlobalSpec, Ecovative and Vicarious Visions, which was acquired in 2005 by video game giant Activision after working on “Guitar Hero” and other major titles.
The concept for the Bridge is informed by Schmidt’s experiences interacting with the start-up community around Kendall Square in Cambridge, Massachusetts during his tenure at the Massachusetts Institute of Technology (MIT).
“During my 41-years at MIT, I was able to observe the transformation of Kendall Square from a former industrial district to what is now hailed as ‘the most innovative square mile on the planet’— a place bustling with tech firms, venture capitalists and urban vibrancy,” Schmidt said. “It will take time, but I can see the potential for of a transformation in Troy, Rensselaer County and the Capital Region. That is why it is so critical today to give the most promising technologists and entrepreneurs in the region the space and resources to grow right here. If they start here, and we support them in those early days, I believe they will stay here.”
Starting with 10,000 square feet of unique, shared experimental space on the top floor, The Bridge may expand to available space on the first floor—which is also home to the Tech Valley Center of Gravity makerspace—or into other nearby buildings.
Programs will include networking opportunities, pitch competitions and workshops for founders, students and business leaders in the community. Services will include business development, legal and IP management advice. In addition, The Bridge will establish partner agreements with local universities, companies and nonprofits so that member companies have streamlined access to a network of cutting-edge tools and facilities.
Startups are not required to have a pre-existing affiliation to RPI to join The Bridge.
Since taking the reins at RPI in 2022, Schmidt has made the startup accelerator a cornerstone of his presidency, taking direct inspiration from The Engine at MIT, an innovation accelerator in Cambridge.
The timing and vision paired well with the Rensselaer County Industrial Development Agency (RCIDA), which purchased the Quackenbush Building in April after leasing its offices there since 2015.
“The Bridge will not only provide crucial support for startups and our student community – it will also help to attract and retain businesses and entrepreneurs in Rensselaer County,” said RCIDA CEO Bob Pasinella. “This initiative is truly designed to benefit everyone in the region.”
Earlier this year, Rensselaer County allotted $8 million in funding for The Bridge to develop a state-of-the-art infrastructure for startups and support operating expenses for its first five years of operations.
“Rensselaer County is an innovative, technological epicenter with an incredible density of intellectual young students and professionals,” said McLaughlin. “The Bridge is a trailblazing venture, bringing together the best of our region in a next-level infrastructure project that will create tremendous opportunities for growth and development right in downtown Troy.”
Both RPI and County leaders are considering how this project relates to the larger context of the region’s economic revitalization for the region. The goal is for new companies to stay in the area, which would lead to more venture capital, which would create a cascading effect of incentivizing more businesses to relocate or open offices here.
“RPI is interested in supporting the continued development of the region as a technology hub,” Schmidt said. “We are constantly looking for opportunities to partner with other institutions that are committed to the region to provide crucial resources to our most dynamic and exciting companies, which is how, collectively, we can drive economic growth for the region.”
Citing the thesis of “Jump-Starting America: How Breakthrough Science Can Revive Economic Growth and the American Dream,” a book by Jonathan Gruber and Simon Johnson, Schmidt agrees with the authors that the American economy can no longer hinge on a handful of large metros alone. Mid-sized metros like the Capital Region are well positioned and have the capacity to grow.
“Our focus is on the groundbreaking technology plays that will drive economic growth and create new opportunities for the entire region,” Schmidt said. “We know this is possible as evidenced by the semiconductor ecosystem created in the Capital Region. At RPI, we are excited to work with all stakeholders on this journey to a prosperous future.”
“The County Legislature recognizes the vast potential for this new partnership and the talent that will be attracted to the Bridge. So many life-changing ideas and inventions and developments have taken place in Rensselaer County, and we look forward to the next wave of inventions and ideas,” said Chairwoman of the Rensselaer County Legislature Kelly Hoffman.
“We are excited to see this partnership come together in Troy, a city that has always supported new ideas and innovation dating back to the Industrial Revolution. We congratulate RPI and Rensselaer County on coming together for this important project and look forward to supporting and encouraging the Bridge for years to come,” said Troy Mayor Carmella Mantello.