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.