Rensselaer Technology Park
Established in 1981 in nearby Defreestville, the Rensselaer Technology Park now encompasses 1,200 acres and houses more than 55 companies employing 2,300 people. The park’s symbiotic relationship with the university drives its success. Companies benefit from ready access and interaction with Rensselaer faculty and students, and they, in turn, find in the park a place to grow and prosper. This interaction between tenant companies and the university is a fundamental objective of the park, enriching Rensselaer’s educational environment and helping companies stay on the leading edge of their technologies.
The Rensselaer Incubator, established in 1980 to “give life to new ideas,” has helped define a role for universities in the economic development of their home communities. The program provides a gateway for technology transfer where students and faculty explore ideas for new ventures in a supportive environment. The program was the first of its kind, and Rensselaer is acknowledged as a pioneer in business incubation. Since its creation, the program has incubated 180 tenant companies in the Capital Region.
Troy Redevelopment Foundation
Rensselaer is part of a coalition of five of the city’s largest nonprofit organizations, which came together when the city was facing a particularly difficult financial situation. Through the foundation, Rensselaer makes an annual voluntary monetary gift to its home city. In its first five years, the group contributed $2 million, supporting numerous projects, including a business revolving loan fund and the reopening of the RiverSpark Visitors Center.