Syracuse University

SU News

SU's South Side Innovation Center awarded $85,000 grant from JPMorgan Chase

October 12, 2010

Amy Schmitz
(315) 443-3834

The South Side Innovation Center (SSIC), part of the Whitman School of Management at Syracuse University, has received a $85,000 grant from JPMorgan Chase to support current and future entrepreneurial efforts on the City of Syracuse’s Southside. With the help of Chase, the SSIC provides programming and critical infrastructure to support the start-up and growth of entrepreneurial firms in the Southside neighborhood. Through a portfolio of programs that include the WISE Center (a U.S. Small Business Administration-funded women’s business center), the South Side Entrepreneurs Association, the Start-Up New York program for Disabled Entrepreneurs and the SU Community Test Kitchen (COMTEK), the SSIC has made significant impacts on the economic vibrancy of Central New York.

ssicThe grant is part of the larger Syracuse-JPMorgan Chase Collaboration, which is a unique corporate-university collaboration and joint venture to develop education and work experience innovations in the area of financial services information technology. Launched in 2007, the collaboration seeks to leverage knowledge and expertise in the building of a best-in-class curriculum for entry-level technologists and to collaborate on projects of joint interest that provide value to both organizations and to society.

“We are extremely thankful for this timely grant from Chase,” says Tom Kruczek, executive director of the Falcone Center for Entrepreneurship in the Whitman School. “The support from Chase is a tremendous sign of confidence in the economic potential of our region. Like SU and the Whitman School, Chase clearly sees the value in a collaborative approach to entrepreneurship. The possibilities for entrepreneurs to improve their businesses are multiplied when companies such as Chase engage for the greater good.”

“Small businesses and entrepreneurs are key to the local economy in Central New York,” says Bill Dehmer, head of Central New York for Chase middle market banking. “It is important for Chase to support the SSIC so they can provide the necessary tools to help these businesses be successful.”

Launched in April 2006, the South Side Innovation Center is a 14,000-square-foot business incubator that fosters the creation of new ventures and helps to make existing ones sustainable. The program is part of the larger South Side Entrepreneurial Connect Initiative (SSECP), which seeks to identify and support sustainable ventures, includes infrastructure building, student and faculty engagement through consulting teams, a microcredit fund, training programs for entrepreneurs and opportunities for minority purchasing. The entrepreneurship program in the Whitman School is ranked No. 16 for graduate entrepreneurship programs and No. 9 for undergraduate entrepreneurship programs nationwide by U.S. News & World Report.

Recent News