Provides Small Businesses with Grants to Commercialize Energy and Environmental Technology Innovations In‐State - Fall
New York Senate Bill 1120 (SB 1120), introduced by State Senator George D. Maziarz, establishes the Innovative Energy and Environmental Technology Program to support the commercialization of energy and environmental technology innovations by small businesses. Recognizing the potential of emerging technologies to address challenges in economic growth, energy use, and environmental degradation, the program provides competitive grants of up to $100,000 to qualifying businesses.
The lack of early-stage funding has historically hindered the development and commercialization of innovative technologies. SB 1120 addresses this barrier by providing financial support necessary for small businesses to fully develop, license, and bring new energy and environmental solutions to market. These innovations are expected to create jobs, reduce environmental impacts from existing technologies, and improve the resiliency and sustainability of New York State’s energy supply.
The program will be administered through the Empire State Development Corporation as a competitive grant process. Applicants are evaluated based on three primary criteria: the strength of the business plan, the potential for job creation, and the technology’s capacity to address energy or environmental challenges in the state. To ensure a robust and sustainable applicant pool, the program is designed to be phased in over four years, allowing for effective outreach and program development.
By fostering innovation in the energy and environmental technology sectors, SB 1120 aims to strengthen New York State’s economy, enhance long-term energy security, and support environmental sustainability. Through targeted investment in small businesses, the program encourages the growth of new industries, positions the state as a leader in clean technology, and lays a foundation for both economic and environmental resilience in the future.
Learn more about the MPA-ESP Workshop in Applied Earth Systems Management.