We decided to grow our business here because we’re confident that Schenectady will continue its growth as a center of innovation in the public and private gaming industries.
Schenectady, NY (PRWEB) August 20, 2015
Lottery Rewards announced it is locating in the New York BizLab business accelerator in downtown Schenectady this fall, the company announced today.
Lottery Rewards bills itself as the first national “second chance” lottery gaming company. Lottery Rewards turns every lottery ticket into a free second chance to win cash and prizes daily. Currently, drawings include prizes up to $10,000.
“Nationally, the retail lottery industry is an $80 billion-a-year business and there’s no better place from which to serve that national market than here in Schenectady,” said Jeff Perlee, Lottery Rewards’ CEO.
Perlee formerly served as General Counsel of the Illinois Lottery and CEO of the New York Lottery. He expects to hire 18 employees during the next five years.
“We decided to grow our business here because we’re confident that Schenectady will continue its growth as a center of innovation in the public and private gaming industries,” Perlee said. He cited a CNN report noting that in 2014, consumers spent more on state lotteries than on books, video games, movie tickets and sporting events combined.
Antonio Civitella, founder and president of the New York BizLab said Lottery Rewards’ move into the business accelerator represents the completion of Phase One of the BizLab.
“Our first two floors are now nearly filled to capacity with promising, revenue-generating tech companies that have clients across the country,” Civitella said. “These companies have aggressive growth goals and we are in a position to help them reach and exceed those goals.”
Civitella, who also is the president and CEO of Transfinder, a software company located two blocks from the BizLab, said Lottery Rewards and its seasoned CEO, Jeff Perlee, were great additions to the accelerator.
“Jeff knows the area. He understands Schenectady and is invested in this city and has shown continuous commitment to the city,” Civitella said.
Lottery Rewards’ announcement follows two companies that are located in the New York BizLab. SureDone, an ecommerce company, moved into the accelerator in March and Furlocity, an Travelocity-like online portal for pet owners seeking accommodations, is moving into the building in September.
“We are excited that Lottery Rewards is coming to Schenectady County,” said Ray Gillen, chair of Schenectady Metroplex. “We helped to successfully recruit this company to downtown and we worked closely with the New York BizLab to get the deal done. We continue to add to the growing tech cluster in downtown Schenectady.”
Civitella said the BizLab has been selective about the companies it has accepted into the accelerator because of the unique ecosystem it is creating. It is imperative that tech companies facing similar challenges have increased opportunities for “creative collisions” within the building to potentially collaborate with one another.
Rick D’Errico, the BizLab’s managing director, said he is currently working to fill the third floor with a cluster of three or more tech startup companies that are interested in locating under one roof together.
“This space would be an ecosystem within an ecosystem,” D’Errico said. “With such accomplished companies and strong leadership on the first two floors, including now Lottery Rewards, we now have an opportunity to include a few earlier stage companies in the mix.”
About New York BizLab
The New York BizLab, http://www.nybizlab.net, is a business accelerator located in Schenectady, New York. It is focused on helping tech companies grow smart and grow fast. The BizLab has state-of-the-art space, 1Gig Internet access and more than 30 CEOs and entrepreneurs in its stable of advisers. The BizLab, which is a Start-Up NY approved site, was founded by Antonio Civitella, the president and CEO of Transfinder, a 27-year-old software company that has landed on Inc. magazine’s fastest-growing companies’ list for the past nine straight years..