GENIUS NY, a $2 million business accelerator based in Central New York, has increased the prize amounts it will award its competitors. Six companies will now receive at least $250,000, up from $175,000, for participating in the program. Grand prizes of $1 million, $600,000, and $400,000 will be awarded to the top three competitors, with additional opportunities for follow-on funding.
“We’re excited to raise the stakes for this competition and show our dedication to accelerating startups engaged in the unmanned systems, data-to-decision, and IoT space in Central New York,” said Jonathan Parry, Director of GENIUS NY. “Our awards make GENIUS NY the largest business competition for these specific industries, and a unique opportunity for companies that require a seed round to gain momentum.”
At present, nearly 200 startups are in the running to compete for placement as semi-finalists. From companies based on the West Coast looking to expand operations in NY, to startups in the Ukraine, Spain, Belgium, and Brazil, GENIUS NY is gaining traction for promoting Central NY as an attractive hub for scaling innovative technologies.
Added Parry, “Weeks before applications close, we’re already impressed by the quality and ingenuity of our competitors, and look forward to selecting the companies that will add the greatest value to our entrepreneurial ecosystem.”
Startups within the industries of unmanned systems, data-to-decision applications, and IoT are encouraged to apply at www.geniusny.com by October 16, 2016. Semi-finalists will be notified early November.