Long Island Innovation Hot Spot Program
The Long Island Innovation Hot Spot program is designed for early stage companies in the tech, life science and manufacturing industries, and provides match funding, five years of corporate, personal income, and sales tax incentives to qualifying companies.
What is the Innovation Hot Spot Program?
The New York State Innovation Hot Spot Program provides tax incentives and support services to eligible early-stage companies. Accelerate Long Island (ALI) administers the program for the Long Island region and certifies qualified startups for participation.
Accelerate Long Island administers the Long Island Hot Spot in partnership with:
- Hofstra University’s ideaHUb
- Stony Brook University
- Long Island High Technology Incubator (LIHTI)
- New York Tech’s Entrepreneurship & Technology Innovation Center (ETIC)
- Broad Hollow BioScience Park
Our Mission
The Office for Research and Innovation at Stony Brook University partners with Accelerate Long Island (ALI) as part of a unique collaboration of the region’s research institutions and business community. ALI was created to support the commercialization of research and build a thriving entrepreneurial ecosystem across Long Island.
Program Benefits
- 1:3 match funding on startup expenses
- Access to 30+ vetted service providers (legal, IP, accounting, marketing, etc.
- 5-year NYS personal income tax exemption for founders
- Exemption from sales tax on equipment and franchise tax on startup costs
- Direct access to capital networks, mentorship, and exclusive startup events
- Personalized guidance on state incentives and funding opportunities
- Elevated visibility through the Startup Gateway brand and ecosystem
Who is Eligible?
- Companies based on Long Island
- In the formative stages of development (defined as one of the following):
- Still in the testing/development phase of the product being produced
- Has raised less than $1M equity capital
How to Apply
Click below and select Hot Spot Application