Accelerator Businesses Impact Economy, Student Interns

ESU's Business Accelerator has the potential to join the ranks of events and people that have effected wide–ranging and long–lasting positive change on the region's future.

The Business Accelerator, which opened in December 2001, is an incubator for new businesses with a goal of encouraging economic development and entrepreneurs in our region in addition to building a more diversified business base and increasing the number of skilled job opportunities.

Mary Frances Postupack, chief operating officer for ESU's Center for Research and Economic Development, which operates the Business Accelerator, is excited about its potential. "To date, the Business Accelerator has created 43 new jobs within Monroe County and has expanded to 701 Main St. in Stroudsburg. The program serves as an economic magnet to the region by supporting entrepreneurship, the creation of new high–tech businesses, and better paying jobs."

This exciting project currently works with:

• BackboneSecurity.com, a network security firm offering encryption, intrusion management, firewalls, computer forensics and more.
• Right Reason Technologies, using distance learning to help companies comply with federal standards in harassment, workplace safety and other training issues.
• Digitune, utilizing the latest technology to provide Internet radio stations to wireless devices including PDAs and laptop computers.
• Teneo Corporation, providing support and management services to small and mid–size businesses.

All these companies reflect areas of strength in ESU's academic offerings, and ties to the university are, by design, very strong. Students intern at the businesses, classes may work with them in some capacity, and some students have found post–college jobs with these companies.

Most exciting is that, as a result of its association with BackboneSecurity.com, ESU now offers the nation&39;s first bachelor's degree in computer security.

These businesses have impacted the area in many ways. BackboneSecurity.com, which helped the FBI secure a tipline after 9/11, has provided jobs for area residents and internships for students. According the Department of Labor Statistics, their estimated impact on this region in 2001 was $750,000.

Recently, ESU announced a $2.5 million grant from the state for a computer–security–command–and-control center. Harrisburg lawmakers hope the project will create a computer–security Silicon Valley in the Poconos.

BackboneSecurity.com expects their business to grow 450 percent this year as a result of that project. Eighty percent of their employees are ESU graduates.

Through its association with the University City Science Center in Philadelphia, the nation's first and largest urban research park, the Business Accelerator has had dialogues with French companies. Through ESU, contacts have also been made in Singapore.

Recognition has also been generous. The Business Accelerator placed first in the Economic Development in a Pocono Northeast Community Awards Program. LE MOCI, a French magazine, profiled the Business Accelerator. BackboneSecurity.com was named company of the year by the International Association of University Research Parks and won a Medical Security System award for its product Ribcage.

In addition, ESU recently received major grants that tie in with the vision of the Business Accelerator and the Center for Research and Economic Development.