Fostering new businesses in Buffalo
August 3, 2012 by Sarah
Jonathan Levy and Ronald Schreiber are putting their money where their heart is, and setting out on a new crusade to nurture the next generation of Buffalo entrepreneurs.
The two former businessmen-turned-venture capitalists have announced a new incubator focused on digital media companies. Their goals are straightforward and challenging, and Levy said:
“We just want to change the way young people think about Buffalo. If they want to stay here, they can do it without working at a bank.
“I want to help you follow your dream, but you’ve got to dream.”
Presently, young people interested in developing businesses in this sector tend to leave for New York City or California’s Silicon Valley.
Levy and Schreiber believe Buffalo’s entrepreneurial culture needs a bit of a boost. The men want to cultivate a supportive atmosphere for risk-taking and yes, even a tolerance for failure, both necessary conditions in thriving, tech-oriented communities.
Growth in the technology sector has been occurring around the country. Jobs in the industry tend to be high-paying, and attract skilled professionals to a locale. Of course, growth in any part of the business community also benefits local establishments, from the printing companies that fill orders for business stationery and brochures to office furniture distributors.
Though Levy, Schreiber, and their investment partners see a genuine opportunity in Buffalo’s tech sector, they are realistic about the incubator. Levy added:
“Will it help overnight? No, but if we can get one or two companies to come out of it, then we’ll be happy.”