GENIUS NY 2.0 Now Accepting Applications From Startups Focused On Unmanned Systems, Hardware, Software And Analytics
Governor Andrew M. Cuomo today announced that applications are now being accepted for the second round of GENIUS NY – one of the world’s largest business competitions focused on unmanned systems, cross-connected platforms and other technology-based sectors. The year-long business accelerator is seeking applications from entrepreneurs and early-stage businesses focused on unmanned systems, hardware, software and analytics. The program will invest nearly $3 million in six finalist companies, including three grand prizes valued at up to $1 million, $600,000 and $400,000.
"The GENIUS NY competition has already transformed the business landscape of Central New York by enticing next generation entrepreneurs to establish roots in the Empire State," Governor Cuomo said. "By continuing to invest in the region’s unmanned systems sector and launching round two of the GENUIS NY competition, we can ensure New York remains a leader in growing the innovation economy, achieve the important economic and community goals of CNY Rising, and provide new opportunities and jobs to residents for decades to come."
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GENIUS NY, a year-long a business accelerator, hosted its capstone 315 Finals event on Wednesday, March 15, awarding six finalist teams a total of $2.75 million in investments. The high-energy event featured teams pitching their business plans to a panel of judges and live audience, as well as a keynote presentation from Empire State Development President, CEO and Commissioner Howard Zemsky.
“The GENIUS NY competition proves that Central New York is rising, creating well-paying jobs and generating economic opportunity across the region,” said Zemsky.
GENIUS NY applications have officially closed and teams from around the world have submitted their technologies for consideration. GENIUS NY applications have officially closed and teams from around the world have submitted their technologies for consideration. More than 250 registrations were completed after a strong marketing effort to promote the program. More than 36,000 page views were tracked on www.geniusny.com, nearly 15 percent of those from foreign countries. The promotional video was viewed nearly 450,000 times on Facebook and Twitter and a successful social media campaign reached more than three million impressions. The promotion resulted in high quality applications that will now compete for $2.75 million in funding.
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.”