How to Tell if the GENIUS NY Program Is Right For Your Unmanned Systems Startup

Unmanned systems technology is changing the way humans and technology interact. If you run a startup in this sector—aerial, ground, marine, data-to-decision, cross-connected platforms, and Internet of Things (IoT)—the GENIUS NY program may be the best accelerator-incubator program for your team. ​

GENIUS NY 2.0 is accepting applications until October 1, 2017. Applicants who do not have complete applications by the deadline will not be considered. Check out the application here (and get a move on).

GENIUS NY Basics: What is it?

GENIUS NY is the world’s largest business competition for unmanned systems, offering each team a minimum of $250K in prize money, with a top prize of $1 million. Administered by the Tech Garden and CenterState CEO in Syracuse, NY, GENIUS NY is funded with $5 million from Empire State Development and contributing sponsors.

GENIUS NY Details: Is it a good fit for my team?

You know better than anyone: there are many accelerators and incubators to choose from.

And sure, a $1 million top prize sounds good for any startup, but how can you tell if GENIUS NY is actually a good fit for your team? If you want to make an informed decision, here are five things you should know about the GENIUS NY program:
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1. GENIUS NY is an industry-focused program. This program is for unmanned systems startups. Applications are restricted to categories that align with Central New York’s regional investment in unmanned systems: hardware, software, and analytics.
   
   
2. GENIUS NY is a year-long program. GENIUS NY is divided into two phases. In phase one, six teams receive a monthly stipend ($10,000 per month) and a housing subsidy to participate in the three-month accelerator. In phase two, all six teams automatically enter a 9-month incubation period that concludes with an Investor Demo Day.
   
   
3. GENIUS NY is both an accelerator and an incubator. Phase one is a competitive accelerator. During the first three months, six teams compete for the following prizes: first place $1 million, 2nd place $600K, 3rd place $400K, and 4th through 6th places receive $250K. Phase two is collaborative. In the final nine months, GENIUS NY fosters cross-pollination and peer support—encouraging teams to share technology and resources.
   
   
4. GENIUS NY is an in-residence program. Participants must commit to living full-time in Central New York for the duration of the program. Participants will work in a tech-centric incubator, The Tech Garden, which includes office space, a theater, conference and meeting space, and a lounge area. Utility expenses are included in the subsidized rent, along with standard office furniture and equipment.
   
   
5. A "Pitch" is required for the final selection. If your team is selected into the semi-finals, you will need to “pitch” to the judges. This may be a live pitch in Syracuse, NY or a video conference pitch. If the pitch is onsite, GENIUS NY will pay for your travel and lodging. The pitch is scheduled to occur in November 2017.

GENIUS NY Selection Criteria: How will my startup be assessed?

Your application will be assessed against five primary selection criteria:

1. Clarity of business. The GENIUS NY team should be able to understand your business. If you have a patent, business plan, or financial statements, submit the corresponding documentation. If you have "the next big thing," you may need to be more creative: submit video, simulations, and tell us why the evaluators should select your team.
   
   
2. Principal team. We want to know who’s on your team and if the proposed team has what it takes to succeed in the unmanned systems space.
   
   
3. Scalability. If accepted to the GENIUS NY program, we want to know how your business can scale and attract additional investment money.
   
   
4. A true entrepreneurial startup. We will assess whether or not your business is a true entrepreneurial startup. No pizza chains, please.
   
   
5. Viability. The GENIUS NY evaluators want to know if there is a market for—and a way to monetize—your startup.
   
   
6. Ability to live and work in CNY. Applicants will be assessed on their ability to live, work, contribute to, and grow in Syracuse, NY and the greater CNY region.
   
   

GENIUS NY: What’s the bottom line?

We get it: choosing the right accelerator or incubator is a huge decision. It can make or break your startup. As an industry-focused, 12-month, in-residence, accelerator and incubator program, GENIUS NY has a lot to offer. The program exists to help unmanned systems startups accelerate their growth.

If you are eligible for GENIUS NY, you are strongly encouraged to apply. You will not only benefit from the programming, but also the intangible assets: mentoring, peer-to-peer networking, geographic location, and valuable prize money.
The deadline to apply is quickly approaching. GENIUS NY 2.0 is accepting applications until October 1, 2017. Apply here.