Home / Business and Finance / GeniusNY Announces 16 Semi-Finalists for $three Million in Fundi…

GeniusNY Announces 16 Semi-Finalists for $three Million in Fundi…

GENIUS NY, Syracuse’s main enterprise accelerator program based mostly out of HeartState CEO’s Tech Garden, has introduced the sixteen groups named as semi-finalists in the competitors’s second spherical. The groups will compete for $three million in funding funding, together with a $1 million grand prize funding.

Genius NY is a extremely aggressive program designed to carry progressive new drone corporations to New York’s heart state space.  The semi-finalists had been chosen from greater than 250 submissions from everywhere in the world and embrace three worldwide groups.

“We are excited to welcome these forward-thinking entrepreneurs to Central New York for round two of the GENIUS NY competition,” mentioned Empire State Development President, CEO & Commissioner Howard Zemsky. “This unique contest supports UAS startups in developing the next-generation technologies that are helping Central New York, and its burgeoning drone industry, to rise.”

The program is funded by Empire State Development and has served as a mannequin all through the nation.  GeniusNY is the biggest such competitors for the drone trade in the world, and can make investments greater than $three million in 6 profitable corporations over the course of the year-long competitors.  The semi-finalists should now create a video presentation pitching their firm as one of the best match for the competitors.  It’s a giant dedication, particularly for these corporations based mostly abroad: judges are wanting for organizations that not solely reveal innovation and know-how and the potential to scale efficiently, however can even keep in the central NY area.

“The teams we have selected represent the very best of an incredibly competitive application pool,” mentioned Rick Clonan, vp of Innovation and Entrepreneurship at HeartState CEO. “These high-quality teams will benefit from the success of the program’s first round and will have the necessary resources to accelerate the growth of their businesses while contributing to the region’s leading expertise and advancement of the UAS industry.”

“The grand prizes will be announced at an event in April, where teams will compete live by pitching their technologies to a panel of judges. Three grand prize investments – $1 million, $600,000 and $400,000 – will be awarded. The remaining runner-up teams will each receive a $250,000 investment,” says GeniusNY.

“The GENIUS NY program provides proven support to help our region grow innovative next-generation technology companies in the unmanned systems industry,” mentioned Rob Simpson, president of HeartState CEO. “We are excited to welcome these teams to our community and connect them with the ecosystem of support we have developed including our nationally recognized corridor for testing beyond visual line of sight. Only in Central New York will these companies be able to conduct this kind high level research and development while receiving investments and mentoring.”

“Beyond the grand prize investments, participants will have access to some of the region’s premier startup programming, including business planning, industry specific mentorship, and access to vetted service providers offering startup friendly terms. As part of this effort, participants will be integrated into the larger regional effort to grow unmanned aerial systems in Central New York and the Mohawk Valley and will have access to world-leading infrastructure and testing assets when they come online. Participants also receive stipends for operating capital and subsidized rent, and will also have opportunities to connect with investors for follow on funding.”

The 16 semi-finalist groups are listed under:

AgriSense, New York
AndroMeta-X, New York
BioCarbon Engineering, United Kingdom
Dropcopter, California
Dronetechuav, Texas
Fovea Aero Systems LLC, New Jersey
Kinaptic, Maine
Precision Vision, New Mexico
OneSky, Switzerland
Fotokite, Switzerland
Quantifly, New York
USDRobotics, Florida
Kairos Weather Corporation, New York
Systems Technology Solutions, New Mexico
SU Applicant (New Company), New York
SkyTubeLive, New York

Miriam McNabb is the CEO of JobForDrones, knowledgeable drone companies market, and a fascinated observer of the rising drone trade and the regulatory surroundings for drones. She writes for DRONELIFE on present information, monetary developments, and FAA laws. Miriam has a level from the University of Chicago and over 20 years of expertise in excessive tech gross sales and advertising and marketing for new applied sciences.
Email Miriam

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