Teams Will Now Compete for One of Five Investments; $1 million Top Prize and Four awards of $500,000 Each
GENIUS NY has implemented a new investment structure for round three of the innovative unmanned aerial systems (UAS) business accelerator. Five finalist teams will be selected from a pool of applicants to participate in the third round of this world-class acceleration experience in Central New York. A total of $3 million in direct investment funding will be awarded, with one grand prize of up to $1 million and four $500,000 awards. Previously, the program awarded three grand prizes of up to $1 million, $600,000, and $400,000 and three runner-up prizes of $250,000 with $250,000 available for follow-on funding. Doubling the investment for the finalist teams will provide them with an even greater opportunity to succeed and grow their business in Central New York.
AutoModality, a member of the inaugural GENIUS NY cohort and winner of a $1 million prize in 2017, is enjoying rapid growth over the past year. Their “perceptive navigation” solution uses unmanned systems to place drones in areas that would otherwise be difficult, dangerous or impossible to access – such as tunnels, bridges and warehouses. AutoModality’s innovative technology features the ability to follow terrain, sense and avoid obstacles, and track and recognize objects in real time. Their solution can also operate in GPS-denied environments.
The Tech Garden and Syracuse startup community are gearing up for three days full of entrepreneurial workshops, events and pitches. Paul Singh, Dana Duncan and the Results Junkies are in town from Tuesday, August 7 to Thursday, August 9. They will be visiting Tech Garden members, GENIUS NY teams, government leaders, economic development organizations and startup businesses. Singh and his team have visited 94 cities in the last two years and invested in more than 2,600 startups.
Stepping into a meeting to pitch your business and make ‘the ask’ to an investor can be intimidating. You’re wondering what they’re thinking, what they may ask, and ultimately when they’ll say no. Luckily, GENIUS NY recently held a panel on Investor Relations with three top investors in the startup and UAS space to help give advice and answer some of these aching questions and concerns. Here’s what we learned:
This week Airbus Aerial's CEO and Director of Flight Operations visited the GENIUS NY teams to learn more about their companies and give advice on business development, investor relations and help connect the teams with industry experts.
Akrobotix adds Dr. Morad Nazari as Director of Research and Development. Nazari’s experience will help Akrobotix expand their business into the aerospace industry. Nazari brings his vast background in Aerospace Engineering to the Akrobotix team.
Watch GENIUS NY finalist, Akrobotix on WCNY's SciTech Now showcasing how they are developing safe, reliable, autonomous, unmanned systems in Central New York.
GENIUS NY Round two teams have made significant growth and progress as part of the world’s largest business accelerator for unmanned systems. Just six months into the year-long program, three full-time employees and ten interns have been hired. These hires come just two months after the six teams received nearly $3 million in investments.
Syracuse – Today, GENIUS NY team Dropcopter and its partner Beak & Skiff Apple Orchard, showcased the results of the first ever autonomous pollination of apples in the country. Dropcopter, which uses a drone to pollinate tree crops, successfully demonstrated its Worker-Bee pollinator at the 800 acre orchard, which is home to more than 350,000 trees, in Lafayette, New York.
GENIUS NY 3.0 Accepting Applications until October 1, 2018
GENIUS NY – one of the world’s largest business competitions focused on unmanned systems – is accepting applications for the third round of the year-long business accelerator. The program will invest $3 million in six finalist companies, including three grand prizes valued at up to $1 million, $600,000 and $400,000. Applications are currently being accepted from entrepreneurs and early-stage businesses focused on unmanned systems, hardware, software and analytics through October 1, 2018.