Startups

Cooking With Chef Michelle

In gluten-free baking, still room for innovation

BY GREGORY ZELLER // Bakers are no longer known primarily for innovation. Television contests may demand interesting new shapes for cookies and cakes, but in the early 21st century, virtually every combination of eggs, butter and flour has been tried. The difference between a 350 or 375 degree oven has been well-documented. There are no baking worlds left to conquer. Save perhaps one. In an increasingly gluten-free world, many baked products prepared without traditional wheat-,…


CEO Allen Shayanfekr

Sharestates lands $30M to expand RE investments

Sharestates, the Great Neck-based online real estate investment platform, announced a $30 million commitment from Ranger Direct Lending Fund that will expand the startup’s  direct lending in residential, commercial and mixed-use properties in New York. Founded in 2013 by Allen Shayanfekr and title insurance veterans Radni and Raymond Davoodi, Sharestates focuses on financing fix-and-flip loans with an average value of $350,000.  So far, the firm has raised a total of $4.5 million for 13 projects. Ranger’s money could…


Tom Golisano

BUFFALO WATCH: More Paychex for Western NY

In another non-Long Island score for Gov. Andrew Cuomo’s Start-Up NY program, former Buffalo Sabres owner Tom Golisano is spearheading a “multi-million-dollar investment” that will bring 267 new jobs to Western New York. The undisclosed investment by Golisano, founder of Rochester-based payroll-services company Paychex, will help tech manufacturer Bak USA create 167 new positions and expedite the creation of 100 jobs the company committed to when qualifying for Start-Up NY tax benefits. Bak USA, one…


Traverse CEO Joseph Scaduto

Traverse Biosciences inks R&D, licensing deal

BY GREGORY ZELLER // Stony Brook-based startup Traverse Biosciences has inked an exclusive R&D agreement that could lead to an $8 million sublicensing option. Traverse, a resident of the Long Island High Technology Incubator at Stony Brook University, announced today that it has executed a $250,000 cooperative research and development agreement with Kansas-based Aratana Therapeutics to advance Traverse’s leading drug candidate, TRB-N0224, a potential treatment for periodontal disease in dogs and cats. Traverse Biosciences has…


LIAN Chair Michael Faltischek

DEBRIEF: Michael Faltischek, LI Angel Network

As chairman of the board of the Long Island Angel Network – which has reviewed over 600 financing applications and brokered in excess of $5 million in investments – attorney Michael Faltischek is point man in the local effort to unite entrepreneurs and investors, a mission plainly focused on the Island’s future success and growth. He is earnest and good-humored about this mission, but be careful when you suggest the network has a “tech” focus….


David Hershberg, STS Global

CEWIT residents soft pitch the Angels

The board of the Long Island Angel Network heard presentations from four aspiring companies on Friday and, for a change, not one of them was asking for money. Soliciting investments was not the main goal of this particular meeting, held at Stony Brook University’s Center for Excellence in Wireless and Information Technology. The idea, noted Michael Faltischek, the LIAN chairman, was “more a means of educating the board about what CEWIT has to offer, to…


Bettr founders Asish Pandhi and James Knaus.

Ashish Pandhi and James Knaus have a Bettr idea

By GREGORY ZELLER // Even Ashish Pandhi and James Knaus know it can’t be this easy. That’s why the entrepreneurs continue to tinker tirelessly on the functionality and marketing of Bettr, a social media-management platform that aims to “give people a voice and make a difference in the world,” according to Knaus. Bettr won’t officially launch until this fall, but the precursors to the final product, Queue+ and Archive Poster, have achieved enough success that the…


cpxi challenge winners

Lift Stick wins $50K in Hofstra biz plan contest

Hofstra students Nick Calderon and Kevin McCroary won the $50,000 top prize in the annual CPXi VentureTech student business plan contest on Wednesday for The Lift Stick, a device that alerts the wearer to improper posture that could lead to lower back injury. The pair have already begun sales of the Stick, but will get a significant leg up in production and marketing with their first-place winnings. Two teams tied for second place in the…


SulfCrete, Melville startup

SulfCrete readies its breakout pitch

BY GREGORY ZELLER // A rock-solid Brookhaven National Laboratory commercialization prospect is ready for its close-up. SulfCrete, a stronger, more environmentally friendly alternative to traditional concrete, will share the spotlight May 8 with four other regional innovations at the Long Island Capital Alliance’s Technology Transfer Capital Forum, a showcase designed to attract investors to some of the Island’s hottest IP. The result of decades of BNL R&D, SulfCrete is the stage name of sulfur polymer,…


Traverse CEO Joseph Scaduto

Traverse readies the move to market

BY GREGORY ZELLER // Armed with a just-executed licensing agreement for a suite of anti-inflammatory drug therapies, two-year-old Traverse Biosciences is stepping up efforts to land the investors and strategic partners necessary for rapid product development. The licensing agreement with the SUNY Research Foundation gives Traverse rights to compounds developed by Stony Brook University faculty members Lorne Golub and Francis Johnson and known as — science alert — polyenolic zinc-binding agents. Their leading drug candidate,…


Hofstra Center for Innovation

At Hofstra, collaboration without losing your stuff

BY GREGORY ZELLER // A Hofstra University effort to combine industrial and educational forces is breaking the innovation mold. And intellectual property rights are only part of the sea change. Many universities now host “innovation centers,” noted Kevin Craig, director of Hofstra’s Center for Innovation, and Hofstra’s version does what most of the others do: accelerate development and commercialization of new technologies by fostering collaboration between industry, school faculty and students. And Hofstra carves itself…


Ram Maramara of Brimes Energy

Looking to make a splash

Industrialist Ramuel Maramara may have reinvented the way oceanic energy is harvested. If his artificial jellyfish proves seaworthy. That’s the next big test for Maramara and Brimes Energy, the Stony Brook-based startup he incorporated in 2014. Already a successful businessman on two continents – well, one continent and an archipelago – the Filipino native and his team are planning ocean testing this summer for a “jellyfish” device that improves upon Salter’s Duck, the longstanding top…


jobs available in New York

State’s job board sets record on tech employment

Tech-based jobs rule the roost on New York State’s Jobs Express website, an online resource looking to connect the unemployed with companies in search of fresh blood. According to the state, the Jobs Express site has set a new record with over 115,000 private-sector positions listed – and a healthy portion of those jobs are technology-related, falling into categories such as “Computer and Mathematical,” “Healthcare Technical” and “Healthcare Support.” The Jobs Express site (www.jobs.ny.gov) sorts…


ALI director Mark lesko

Accelerate LI to partner on $1.5M seed fund

New York State has awarded $1.5 million to a new seed fund designed to invest in downstate companies commercializing research from local laboratories and universities. The fund will be administered by Accelerate Long Island and the SUNY Research Foundation and will handle investments on Long Island, parts of New York City and the Hudson Valley. The $1.5 million will be matched by the university system’s investment arm and with private money from local venture firms…


Entrepreneur club

Startup House founder at Suffolk inventor’s meetup

Shmulik Shahar, founder of the Seed Startup House, discusses software and app development at the Suffolk County Inventors and Entrepreneurs Club, April 21, from 7 to 9 p.m. Shahar has almost 20 years experience as a team leader, software R&D manager, CTO and CEO for companies large, small and starting up, both international and domestic. He holds a BA in computer science from the Open University in Israel. The meeting will be held in the Media…