New York state is betting on the drone, robotics and IoT industries in a big way.  With recognition that these industries have the potential to drive major economic development in the area, the GENIUS NY program  – an in-residence accelerator operated out of Syracuse, NY – is offering $3 million in investment in 5 finalist companies, including a $1 million grand prize.

GENIUS NY is the world’s largest business accelerator focused on uncrewed aircraft systems (UAS): and it has an impressive success record.  “Since 2017 GENIUS NY has invested more than $15 million in 26 startup companies who have gone on to raise more than $90 million in follow-on funding and scale and grow operations.

Its secret sauce is the ability to combine high value investments in companies at the beginning of the program while also offering participants industry mentors, stipends, resources, programming and networking opportunities,” the organization says.

New York state has successfully generated a robust high tech ecosystem, including emerging drone technologies and the supporting systems like 5G, AI, and autonomy.  In addition, the New York UAS Test Site (NUAIR) at Griffiss International Airport is one of seven FAA designated test sites in the country.  As NUAIR and the New York drone industry have grown, the test site’s capabilities have continued to expand, providing unique opportunities like New York’s 50-mile BVLOS test corridor for testing advanced drone operations.

Beyond the funding, the program offers support and critical networking opportunities for the partnerships critical to the rapidly evolving drone ecosystem.

Genius NY applications will be open until May 31, and there is still time to put your application together. Semi-finalists will be selected to present demos and pitches this summer, and five companies will advance to participate in the competition – itself  a unique programmed incubator and accelerator experience.

“The selected teams will enter the in-residence accelerator in Syracuse, New York summer of 2022 and will be immersed in The Tech Garden incubator’s events, resource pool, and mentoring. Applicants should be prepared to relocate to Syracuse, NY to participate in the program starting in August,” says the organizer.