Albany research hub nets $300K grant for COVID-19 economic recovery

Coronavirus money in America

Coronavirus money in America. (Karolina Grabowska / Pexels)

AMSTERDAM, N.Y. (NEWS10) — The Research Foundation for the State University of New York has won a $300,000 grant award through the Economic Development Administration, with the goal of resurrecting the Capital Region economy amid the ongoing pandemic.

“A lot of [businesses force to migrate online] are struggling with technology challenges, especially in ensuring information security of their operations,” says Dr. Sanjay Goel, Professor of Information Security and Digital Forensics Department at the University at Albany. We have been helping small businesses during the transition to provide them support in both technology and information security challenges. This grant will help us accelerate the process and reach out to many more businesses.”

The CARES Act provided the Economic Development Administration with $1.5 billion for development programs that will help communities deal with the economic crisis presented by the coronavirus. Universities have to use EDA grants to:

  • Give technical assistance to entrepreneurs, businesses, and communities
  • Move courses online
  • Support technology commercialization, entrepreneurship, and manufacturing
  • Conduct and circulate research targeting the pandemic impact on the economy
  • Identify and support worker training and professional development

The federal grant was announced by Congressman Paul D. Tonko on Tuesday. “Getting through this crisis and rebuilding our economy will take significant resources and prompt, thoughtful planning,” he said. “Making critical investments now helps ensure our workers and businesses have the tools they need to stay afloat, continue to serve our Capital Region, and stave off longer-term losses.”

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