ESU Business Accelerator Receives First Place Recognition in PONE Awards

East Stroudsburg University's Business Accelerator received the first place award for Economic Development in the 2002 Pocono Northeast Community Awards (PO–NE) program sponsored by the Pocono Northeast Development Fund in cooperation with Northeast Pennsylvania Alliance.

East Stroudsburg University's Business Accelerator received the first place award for Economic Development in the 2002 Pocono Northeast Community Awards (PO–NE) program sponsored by the Pocono Northeast Development Fund in cooperation with Northeast Pennsylvania Alliance.

"This is an extraordinary accomplishment for our Business Accelerator and University," said ESU President Robert J. Dillman. "This award is a result of strategic collaborative efforts to address the economic needs of our community."

"This award would not have been possible without the vision and direction of the Board of Directors of the Center for Research and Economic Development," said Mary Frances Postupack, chief executive officer. "Their commitment to create regional wealth and new job opportunities coupled with the diligence of our start–up companies has created an exciting entrepreneurial environment in our region."

The Business Accelerator — An Affiliate of the Port of Technology received the award for programs or projects designed to enhance economic or business growth, provide available service, and/or promote quality of life in the region.

The award was presented to Mary Frances Postupack by Dr. Mahmoud Fahmy, chairperson of the board, NEPA; Cameron Moore, president and chief executive officer,

NEPA; Ted Daniels, president of the board, PNDF; and Dr. Ron Johnson, dean, Kania School of Management, University of Scranton, sponsor.

The Business Accelerator was developed to encourage economic development and entrepreneurial endeavors in Northeast Pennsylvania to help the region build a more diversified business base, increase "high–tech/high–skilled" job opportunities and create regional wealth. The region has lagged behind state and national averages in new business formation and the creation of technologically advanced industries.

The accelerator officially opened in December 2001, as phase one of a multi–phase plan spearheaded by the university in collaboration with Pocono Mountains Industries, Monroe County Industrial Development Authority, Monroe County Industrial Park Authority and Ben Franklin Technology Partners to encourage economic development and support entrepreneurial endeavors.

The ESU Business Accelerator is unique in many ways:

• It is an Affiliate of the University City Science Center's Port of Technology in Philadelphia, the nation's first and largest urban research park. This affiliation provides extensive networking opportunities.
• The businesses selected to participate in the accelerator must have a direct connection to the University and its academic mission. That connection may include internships, student and faculty research, and graduate assistantships.
• The accelerator is located in a Keystone Opportunity Expansion Zone (KOEZ), which provides significant tax abatements.

Four companies are located in the accelerator:

• BackboneSecurity.com, a computer security company
• Right Reason Technologies, a web–based training solutions company
• IntelSpring Corporation, an e–commerce operation
• Digitune, a wireless music portal.

These companies have created 26 new jobs in Monroe County so far. Efforts to expand the Business Accelerator program are under way.

The Business Accelerator is an entrepreneurial showcase for Monroe County. It is the first step to a larger facility in the new Industrial/Corporate Parks slated for the Camp Tegawitha and Senda properties in Mount Pocono and expected to generate 3,000 to 3,500 jobs.

Celebrating its twenty–fourth year, the Pocono Northeast Community Awards program pays tribute to organizations in a seventy county area (Carbon, Lackawanna, Luzerne, Monroe, Pike, Schuykill and Wayne) that make Pennsylvania a better place to live and grow. In presenting these awards, the Pocono Northeast Development Fund and award sponsors continue to encourage others to pursue efforts to bring improvements to the communities served by the Northeastern Pennsylvania Alliance (NEPA).

ESU was one of 21 award winners at the ceremony who were honored in categories including:

• Community Improvement
• Cultural Enrichment
• Economic Development
• Environmental Action
• Health Care
• Human Services
• Media/Special Events
• Recreation/Tourism

The Pocono Mountains Vacation Bureau received a first place PONE Award in the Media/Special Events category for its campaign "A New Day in the Pocono Mountains." The projects nominated vary in scope from improving the quality of life, to improving the environment, providing educational opportunities, attracting tourism to the Pocono Northeast, and cultural enrichment.