By: John Callegari

The region’s largest research institutions have reached an agreement to come together and commercialize their innovations in order to promote economic growth on Long Island.

The newly created program, known as “Accelerate Long Island,” will assist in the creation of an entrepreneurial ecosystem where the potential of research at the five institutions involved - including Stony Brook University, Hofstra University, Brookhaven National Laboratory, Cold Spring Harbor Laboratory and the North Shore-Long Island Jewish Health System - can be harnessed by entrepreneurs who start companies and create jobs on Long Island. The five institutions spend over $1 billion collectively on research.

Accelerate Long Island was created in a series of meetings held by Brookhaven Supervisor Mark Lesko, between July and November 2010. At one meeting, it was suggested that the initiative be formed under the auspices of the Long Island Association, the region’s business-focused advocacy group. Similar programs have been undertaken by the LIA’s sister organization in St. Louis, the St. Louis Regional Chamber and Growth Association, which has enjoyed great success in bringing venture capital to the area for its life and plant science research.

In order to better determine the group’s focus, outside analysts who have set up other regional networking models were brought in to look at the region’s areas of opportunity. It was found that most of the research conducted at the institutions on Long Island focuses on biotechnology, energy research and information technology. By collaborating on and commercializing the research done in these fields by the five institutions involved, economic opportunities could be created throughout the region, the analysts said.

“This is something that has been going on all over the country, that we should be embracing as well,” said Samuel Aronson, director of BNL. “I think there’s going to be a lot of answers about how to move the region forward as a result of this.”

Aronson, along with the heads of each of the other organizations, will serve on the board of Accelerate Long Island.

Lesko and Rauch Foundation President Nancy Rauch Douzinas brought the Accelerate Long Island project before the Long Island Association’s board of directors recently, and were met with a positive reception. The LIA will vote on whether to formally sponsore Accelerate Long Island at its next meeting.