Frequently Asked Questions
What is Element 46?
Element 46 is an immersive incubator program that supports founders of early stage startups right here in Westchester County. By providing founders with access to programming and resources, it helps turn promising startups into thriving businesses, and promotes entrepreneurship and economic development in Westchester County.
Why is it called Element 46?
There are 45 municipalities in Westchester County and the County government is the 46th entity. The 46th element of the periodic table of elements is Palladium. Palladium is a catalyst, and our incubator is a catalyst for startups, so we thought the name was a good fit. We were very fortunate that Julie Cottineau, the brilliant Founder and CEO of BrandTwist, guided us through the branding and naming process. Thank you Julie!
Why is the County launching Element 46?
The goal of the network is to help entrepreneurs turn their startup into a business, get their products to market faster, increase sales and help them grow. It aims to attract startups, business talent and investors to Westchester County, and to help provide the valuable skills needed for running a business, with exposure to like-minded individuals. From these businesses, we hope to create job growth and bring economic stimulation to our communities. By leveraging all that Westchester has to offer -- engagement, expertise, proximity to NYC, technology infrastructure, transportation, investor potential, highly educated talent and more, the network will foster additional economic development in the region through the cultivation of promising startups.
How many people will be accepted?
The the first cohort consists of 12 member businesses into its first class beginning on July 1, 2019 and completing the program by the end of October 2019. The next cohort will start in January 2020 and we anticipate accepting more startups.
How will the businesses who participate be chosen?
If you meet the eligibility criteria and are short-listed as a finalist for the next round of evaluation, we’ll set up a meeting to review your business and goals. The Discovery Meeting is an interview between the founders of the applicant business together with the program coordinator and advisors.
What’s the term?
The network expects to accept 15 cohort member businesses into its first class beginning on July 1, 2019 and completing the program by the end of October 2019. The next cohort which begins in January 2020 will likely run for 6 months.
Is there a guaranteed investment amount with the network?
The program provides free co-working space, programming, mentoring and advisory support. While we will make attempts to support investor interest in the incubator's cohort member companies, there is no investment dollar guarantee associated with the program.
What is the role of the Westchester County government?
The program was facilitated by the County in order to bring together the best business minds to create an incubator. The County is building connection points between various business leaders and leading the initiative, but not involved in the day-to-day operation or outcomes.
The development of Westchester County is essential to our future growth, and this administration is committed to promoting our business environment. We’ve carefully selected an outstanding team of experts who are poised to help new businesses in the program grow and flourish.
Will the network own any part of my business if I apply and get accepted?
No. The network is a facilitator of the programming, the business connections and a supporting function for the entrepreneurial ventures only.
Need more information? Email us at email@example.com