The Youngstown Foundation recently contributed $20,000 to the Youngstown Business Incubator (YBI) for capital improvements to its incubating facility on W. Federal Street. In the past year, YBI has approved six new portfolio companies for occupancy and the funds will be used to provide professional office space for these growing ventures as well as future applicants.

“YBI is appreciative of this substantial investment as it affirms the mission of YBI to assist technology-based entrepreneurs establish and accelerate their scalable, proprietary information technology applications,” states Julie Michael Smith, chief development officer of YBI.  “YBI provides invaluable assistance to its portfolio companies which includes entrepreneurial counseling and access to business development resources in a professional atmosphere that allows them to grow and prosper.”

“The Youngstown Business Incubator has become one of the Valley’s most valuable assets for economic development with an impressive roster of innovative start-up business tenants producing well-paying jobs and attracting talent to the downtown area”, states Janice E. Strasfeld, executive director of The Youngstown Foundation. “The Youngstown Foundation is proud to continue supporting YBI’s vital work through this grant to renovate the facility in preparation for its next entrepreneurial successes!”