Silver Soaks Receives Innovate 518 Hot Spot Certification
BizLab’s Newest Affiliate Approved for State Program’s Tax Incentive Benefits
[Schenectady, NY – February 14, 2020]: The New York BizLab announced today that Silver Soaks, LLC has received Hot Spot Certification from Innovate 518-Capital Region. The Hot Spot program offers tax incentives and support to companies meeting specific criteria and serves as a pathway to the Start Up New York program.
Silver Soaks, LLC is only the second BizLab company to receive this significant qualification from New York State. This milestone is a major step for Silver Soaks, LLC in its mission to improve hygiene, comfort, and performance for competitive athletics through its patent-pending apparel that contains military-grade silver thread paired with compression and additional comfort features.
“We’re thrilled to be part of the Innovate 518, Capital Region Innovation Hot Spot program,” stated Challen DeMartino, co-founder and Chief Marketing Officer at Silver Soaks. “When we founded Silver Soaks, we made it a priority to use Capital Region resources as much as possible, with the goal of supporting the local economy. The Hot Spot program helps us achieve this and grow in Schenectady.”
Rick D’Errico, the managing director of the New York BizLab, called the Hot Spot designation a significant accomplishment.
“Silver Soaks is an extremely innovative company that has a product that will make a major impact in the sports apparel industry,” D’Errico said. “By being accepted into the Hot Spot program, Silver Soaks now has New York’s stamp of approval. We’re going to be hearing a lot from Silver Soaks in the future.”
This news comes in the wake of many recent initiatives and accomplishments of the new and growing company, including:
- Recruited a board of directors of well-known area business leaders, including Nicole Snow, founder of Darn Good Yarn
- Became an affiliate company of the New York BizLab
- Joined the Capital Region Chamber
About SILVER SOAKS, LLC: Founded in February 2019, by Katie Ellet and Challen DeMartino, SOAKS couples the latest textile technology with ultimate comfort for a new type of athletic apparel. SOAKS inaugural product line contains SOAKS Soccer Advanced Undersocks. These unique undersocks contain silver thread that inhibits the growth of bacteria—a leading cause of irritation—and are specifically designed to be worn under shin guards. Silver Soaks, LLC is a BizLab affiliate company and is based in Schenectady, NY. Visit www.silversoaks.com to learn more.