GENIUS NY: a Top 100 Company to Watch in UAS Industry

Coach UAV announced the program was selected as one of three in the funders’ category

Syracuse – GENIUS NY, a business accelerator program at CenterState CEO’s Tech Garden, announced it’s been named a top company to watch in the drone industry for 2018. The list was created by UAV Coach, a drone industry leader in providing news, resources and training materials to drone enthusiasts across the world. This year, UAV Coach selected 100 companies in 10 different categories. GENIUS NY was just one of three selected in the funders category.

“This is exciting recognition for our program and the teams we have participating in GENIUS NY,” said Rick Clonan, VP of Innovation and Entrepreneurship at CenterState CEO. “With support from New York State, we have worked hard to thoughtfully develop a high-quality program that invests real capital in teams, as well as the necessary resources companies need to accelerate their growth in this industry.”

GENIUS NY, which is funded by Empire State Development invests more than $3 million in six companies over the course of a year-long program – making it the largest business accelerator competition for the UAS industry in the world. The advancement of the GENIUS NY program builds on the progress of CNY Rising, the region’s award-winning strategic plan to generate robust economic growth and community development.

Beyond the grand prize investments, participants have access to some of the region's premier startup programming, including business planning, industry specific mentorship and access to vetted service providers offering startup friendly terms. As part of this effort, participants are integrated into the larger regional effort to grow unmanned aerial systems in Central New York and the Mohawk Valley and have access to world-leading infrastructure and testing assets when they come online. Participants also receive stipends for operating capital and subsidized rent, and have opportunities to connect with investors for follow on funding.

“The GENIUS NY program is one-of-a-kind proven support for innovative next-generation UAS companies,” said Rob Simpson, president of CenterState CEO. “What makes this program successful is that we have gone beyond traditional investment models and connected participating teams to an entire ecosystem of support that includes the ability to conduct high level research and development. Now in its second round, this program is driving real results for its companies and for the region’s leading position in the UAS industry.”

On April 9, GENIUS NY will make another significant investment when it awards nearly $3 million to six drone startups during its Finals Night. All teams will pitch their business plan and one team will receive the top prize of $1million, another team will receive a $600,000 second place prize, a third place team will receive $400,000 and the final three teams will each receive $250,000.

To learn more about GENIUS NY visit www.geniusny.com or contact Jonathan Parry, director of GENIUS NY at jparry@thetechgarden.com or 315-345-2448.