ROME, N.Y. — Griffiss Institute has announced the eight startup teams in the next group involved in the AFRL Commercialization Academy.
AFRL is short for Air Force Research Laboratory.
The companies are focused on areas that include cybersecurity, big data analytics, information systems, and the unmanned aircraft systems (UAS) industry, Griffiss Institute said in a news release. They were selected from a pool of applicant submissions.
The teams will be “incubated and educated” while building their startups around U.S. Department of Defense (DoD) intellectual property (IP) from the AFRL in cooperation with the other AFRL partnership intermediaries around the nation.
“The spring 2020 cohort is an impassioned group of startups with many creative ideas that can positively impact Central New York and the entire country,” Dan Fayette, AFRL Commercialization Academy program manager, said. “I look forward to watching their progress through the Commercialization Academy as they gather valuable information to help their businesses prosper and thrive. I wish the best of luck to all, as they strive to make the cut and compete at Demo Day for IDEA NY prize money.”
Beginning this month, the startups will begin their Commercialization Academy work. They’ll participate in bi-weekly online classes and one-on-one sessions; go through a down-select process in April; and the remaining selected teams will pitch their tech businesses to a panel of judges at a June Demo Day event for a piece of the $300,000 in prize seed funding from IDEA NY.
A grand prize of $200,000 will be awarded to the overall winner, and $100,000 will go to the runner-up.
After Demo Day, eligible teams will participate in the IDEA NY accelerator program that will “incentivize promising entrepreneurs” to create and grow viable commercial businesses in the Mohawk Valley by requiring that the company locate its primary office in the Mohawk Valley region for a 12-month period, per the release.
The AFRL Commercialization Academy is a Griffiss Institute entrepreneurial education program sponsored by the Air Force Research Laboratory Information Directorate (AFRL/RI).
8 companies involved
Contact Reinhardt at ereinhardt@cnybj.com
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