Inside Long Island Business
Get the latest news and trends on Long Island companies and the people behind them.
Three local student start-ups get $30G in funding
Photo credit: Handout
Three start-ups run by students at local universities netted a total of $30,000 in funding Thursday afternoon at a joint entrepreneurship competition held by Stony Brook University, Hofstra University and Farmingdale State University.
The three winning companies will go on to participate at the New York State Business Plan Competition in Albany later this month -- the first time the Long Island...
Read more »Obama's budget calls for saving Brookhaven's atom smasher
Photo credit: Newsday, 2005 / John Paraskevas
The 2014 budget proposed on Wednesday by President Obama calls for boosting basic science research funding by 5.7 percent, including $165 million to continue funding Brookhaven National Laboratory’s atom smasher.
The proposed increase comes as officials on Long Island worry that any cuts to federal research spending could shutter Brookhaven’s collider, which supports 800 jobs and underpins...
Read more »Farmingdale apartment project could get boost
Photo credit: Newsday, 2012/ John Paraskevas
An ambitious plan to revitalize downtown Farmingdale could get a boost from Nassau County Thursday night.
The county’s industrial development agency is expected to consider an application for tax breaks from the developers of Bartone Plaza. The $30-million project, near the Farmingdale Long Island Rail Road station, would consist of 115 apartments and 13,200 square feet of retail stores.
Farmingdale...
Read more »CA sues California start-up on patent infringement
Photo credit: Kevin P. Coughlin, 2012
CA Technologies has filed a patent infringement lawsuit against a San Francisco start-up founded by a former employee of the Long Island software maker.
The suit, filed the suit in federal court in Islip, alleges that AppDynamics Inc., infringed three patents that CA acquired when it bought Wily Technology in 2006 for $375 million. AppDynamics’s founder, Jyoti Bansal, previously worked for...
Read more »Consumer confidence dips on LI
Consumer confidence on Long Island dropped in the first three months of the year compared with late 2012.
The Siena College Research Institute Wednesday reported its confidence index for Nassau and Suffolk counties was 72.6 points in the January-March period, down 1 point from the October to December 2012 period.
Superstorm Sandy hit the region on Oct. 29.
The index was 73.1 points...
Read more »A networking event for start-up companies
More than 220 attendees are expected at an event geared toward helping the Long Island start-up community get more “connected,” said the Suffolk County Industrial Development Agency, which is hosting the event.
Called Start-up Connect, the event will take place from 6 to 8 p.m. Wednesday at the Paramount in Huntington.
During the event, different types of participants -- such as start-up...
Read more »Cuomo urges mortgage banks to revamp guidelines
Photo credit: Getty Images
Gov. Andrew M. Cuomo is urging finance giants Fannie Mae and Freddie Mac to ease their guidelines requiring homeowners to make large lump mortgage payments after being granted grace periods in the wake of superstorm Sandy.
In the weeks after the storm, most major banks told Sandy victims they could skip mortgage payments for up to six months without penalty. But under Fannie and Freddie's...
Read more »Summer program at LaunchPad LI
LaunchPad Long Island is now taking applications for a competitive start-up accelerator program this summer in its Mineola co-working space.
Six start-up companies will be selected to participate in the eight-week accelerator program, which aims to increase the companies pace of growth and maturation. Participants will receive free office space in LaunchPad, a weekly stipend, mentorship...
Read more »Equal pay chat today on Twitter
Tuesday is National Equal Pay Day, and the EEOC plans to mark the occasion by participating in a Twitter chat from 1 to 2 p.m. to answer questions about pay disparities between men and women.
National Equal Pay Day highlights how far into the current year women have to work to catch up with what men earned in 2012. Women earn just 77 percent of what men earn, according to the most recent data.
The...
Read more »FalconStor names Gary Quinn executive VP, chief operating officer
Photo credit: Handout, 2012
FalconStor Software Inc., a computer data storage company based in Melville, has named Gary Quinn executive vice president and chief operating officer.
Quinn, 52, will oversee FalconStor’s global support operations, including sales and marketing and product support. He was previously the company’s vice president of sales and marketing. Quinn joined FalconStor last year and previously spent...
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