$3 Million in funding for Startups focused on Unmanned Systems
SYRACUSE, NY – GENIUS NY, the world’s largest business competitions focused on unmanned systems – is accepting applications for the fourth round of the year-long business accelerator. The program will invest more than $3 million in five finalist companies, including a grand prize of $1 million.
Applications are currently being accepted through October 1, 2019 from entrepreneurs and early- stage businesses focused on unmanned systems, including unmanned aerial, ground, and marine systems; internet of things, and data-to-decision and cross-connected platforms sectors. Subsets may include precision and remote sensing, data collection and analytics, guidance or communication systems, and sensors, among other technological categories.
More than 50 applications from around the globe have already been submitted following AUVSI Xponential, the world’s largest unmanned systems conference, where GENIUS NY and partners from UAS Central, New York’s unmanned systems sector, were represented.
Applications are evaluated by a panel of judges, and 12 semi-finalists will be selected to present demos and pitches this fall. Five companies will advance to participate in the competition, which is structured as a unique programmed incubator and accelerator experience. These five teams will enter the in-residence accelerator at CenterState CEO’s Tech Garden in 2020, and will be immersed in the incubator’s events, resource pool, and mentoring. Participants are required to operate their business in Central New York for one year during the competition.
GENIUS NY, which is funded by Empire State Development in a model similar to Buffalo’s highly successful 43North program, and administered by CenterState CEO, is the largest business accelerator competition for the unmanned aerial systems industry in the world. The advancement of the GENIUS NY program builds on the progress of CNY Rising, the region’s award-winning strategic plan to generate robust economic growth and community development. The program also offers company stipends, housing, resources, programming and networking opportunities.
GENIUS NY finalist, Sentient Blue, of Parma, Italy, recently took home the $1 million grand prize in round three of the competition. With this investment the company plans to accelerate product development and grow its local presence to firmly establish the company in Central New York.
GENIUS NY is an in-residence business accelerator program at The Tech Garden in Central New York that goes beyond substantial direct investment. In addition to $3 million in total investment for five teams, the program also offers incubator space, company stipends, resources, programming, and connections, making it among the largest competitions of its kind across the globe. The program is made possible by $5 million in funding support provided by Empire State Development, New York State’s chief economic development agency.
To apply and learn more about GENIUS NY visit, www.geniusny.com
