FREDONIA—A $300,000 challenge grant has been awarded to Fredonia State College for its business incubator.

The money—$100,000 a year for three years—was awarded by the John R. Oishei Foundation under the condition that Fredonia matches the gift dollar-for-dollar with donations from local businesses and alumni.

“The Fredonia Technology Incubator project was made-to-order for our mission and fits it perfectly,” said Robert D. Gioia, president of the John R. Oishei Foundation.

Currently under construction along Dunkirk’s business district on Central Avenue, the two-story, $6 million technology incubator is expected to be completed in the fall.

The 21,000-square-foot facility will provide business development, mentoring and space for start-up technology companies committed to Western New York. It will accommodate up to 30 companies that will use office space and share services—such as marketing, accounting and legal—for three years, when the businesses would graduate from the incubator and resettle elsewhere in the region.