SYRACUSE, N.Y. — Genius NY is now accepting applications for the 7th round of the business competition.
Genius NY is described as the “world’s largest business accelerator focused on uncrewed aerial systems.” Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York.
The in-residence accelerator — which CenterState CEO operates at the Tech Garden in downtown Syracuse — will invest more than $3 million in five finalist companies, including a $1 million grand prize, Empire State Development (ESD) said in its Tuesday announcement.
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The program also offers company stipends, resources, programming, mentorship, and networking opportunities to assist “innovative startups with the tools they need to take advantage of emerging opportunities,” ESD said.
Genius NY participants are required to operate their business in Central New York for at least one year. The program is funded through the CNY Rising Upstate Revitalization Initiative (URI), the region’s award-winning strategic plan to generate economic growth and community development.
ESD is accepting applications at www.geniusny.com through May 17. Tech startups focused on uncrewed aerial systems (UAS), IoT (Internet of Things), big data, and robotics can apply. Subsets may include precision and remote sensing, smart city applications, data collection and analytics, guidance or communication systems, and sensors, among other technological categories, ESD noted.
“We are looking for high-potential teams who want to join our program so they can accelerate the growth of their companies and become engaged in the region’s growing UAS and UTM [uncrewed aircraft system traffic management] ecosystem,” Kara Jones, director of Genius NY, said. “GENIUS NY is a unique program in that it provides targeted resources to companies so they can scale faster and generate revenue sooner. Through six rounds of this accelerator program, we have seen impact and advancement of this sector within our economy, which is a proven jobs creator.”
A panel of judges evaluate the applications and will select semifinalists to present demos and pitches this spring. Five companies will advance to participate in the program, which is structured as a “unique programmed incubator and accelerator experience.”
The selected teams will enter the in-residence accelerator at the Tech Garden later this summer where they will have access to the incubator’s events, resource pool, and mentoring.
Applicants should be prepared to relocate to Central New York to participate in the program starting in August, ESD noted.
