DOWN TO (SMALL) BUSINESS
Annual summit encourages entrepreneurs to build on city’s renaissance
Local business owners, entrepreneurs and industry leaders gathered Tuesday to talk shop at the second annual Troy Small Business Summit.
About 100 people participated in the event, presented by the city’s Office of Economic Development and the Troy Local Development Corp., in partnership with the Downtown Troy Business Improvement District and the Rensselaer County Regional Chamber of Commerce.
After a successful inaugural program in 2016, organizers expanded the summit into a full day of free programs at the Tech Valley Center of Gravity in downtown Troy. New additions included a panel discussion on the gaming industry in Troy, featuring Guha Bala of Venal Ventures and Steven Flenory of WB Games, as well as a group presentation about navigating uncharted territory in small business.
The summit’s aim is to bring the business community together to celebrate the city’s ongoing economic renaissance and explore ways to support further small business growth throughout the community. Mayor Patrick Madden said efforts such as the summit cre-
ate an environment where the city and its small businesses can mutually thrive.
“While big businesses may dominate the stock market, we all know that it’s small businesses and startups that keep our economy moving,” Madden said. “It was small business growth that drove our recovery out of the last recession. We recognize and appreciate that small businesses and entrepreneurs have played a critical role in the growth and resurgence of the city of Troy, and we are delighted to bring together some of these smart minds today.”
Keynote speaker Sinclair Schuller of Troy-based software company Apprenda shared his own tale of starting a tech company outside California’s Silicon Valley, including the advantages and disadvantages. Those challenges, Schuller said, were worth it, though. to be in a place he loves.
Schuller said Troy reminds him of a startup company, and he encouraged others in the room to take a long-term mindset in their own entrepreneurial endeavors, making moves that encourage more success.
“We control that change,” he said.
Following an afternoon of workshops, the summit closed with Dylan Hall speaking of local organization One Troy’s collaborative effort among nonprofits, businesses and residents to create a better life for people living in the city’s North Central and Hillside communities. Guests then enjoyed a networking mixer upstairs in the same 4th Street building, at IgniteU, an independent program focused on developing entrepreneurs around the state.
U.S. Rep. Paul Tonko, DAmsterdam, addressed the local business crowd Tuesday, complementing the community on its leadership.
“We know that small business is that target that grows jobs,” he said, applauding efforts like the Troy Small Business Summit for promoting that goal.
Michael Yevoli, regional director of the Capital Region Economic Development Council for Empire State Development, also told guests at the summit that Troy is a great example for the rest of the region to follow.
“Keep up that good work,” he said.