I. Purpose
The purpose of this policy is to document the Biotechnology Incubator at New York Medical College (BioInc@NYMC) commitment to pursuing MBE and WBE participation in state-funded projects.
II. Policy and Procedure
It is the policy of BioInc@NYMC to make good faith efforts, including efforts by its contractors, to achieve the M/WBE contract participation goals set by New York State (“NYS”) for state-funded projects.
BioInc@NYMC will adhere to the following standards:
1) Actively and affirmatively solicit bids for contracts and subcontracts from qualified NYS M/WBE certified firms. The New York State Contract System Directory of Certified Firms (available at https://ny.newnycontracts.com/ ) will be utilized to identify qualified firms.
2) Consider dividing work into smaller projects to enhance participation by multiple M/WBEs and encourage the formation of joint ventures and other partnerships among various M/WBE contractors.
3) Document and maintain records of bid solicitation, including those to M/WBEs and the results thereof. BioInc@NYMC will also maintain records of actions that its contractors have taken toward meeting M/WBE contract participation goals through subcontracting.
4) Ensure that payments to M/WBEs are made on a timely basis so that undue financial hardship is avoided.
5) Work with NYS M/WBE certified firms to negotiate bonding and other credit requirements, seeking waiver or suitable alternatives to promote greater M/WBE participation in our state-funded projects.
III. Scope
This policy will be applicable to BioInc@NYMC.
IV. Definitions
1) M/WBE: Minority or Women-Owned Business Enterprise.
2) MBE: Minority-Owned Business Enterprise.
3) WBE: Women-Owned Business Enterprise.
V. Effective Date
This policy is effective immediately.
VI. Policy Management
Executive Stakeholder: Vice President for Research
Oversight Office: Office of the Vice President for Research
