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Governor Cuomo has announced $10 million in additional funding to support two new rounds of the innovative GENIUS NY business accelerator, the world's largest unmanned aircraft systems competition administered by CenterState CEO and located at The Tech Garden. The program, extended through 2021, will now host rounds four and five.
In the first two rounds, the program has invested nearly $6 million in 12 high-quality teams. During round three, five finalists will compete for funding totaling $3 million, with one grand prize of up to $1 million and four $500,000 awards.
In addition to these investments, teams benefit from the region’s multi-dimensional ecosystem that combines technology, innovation, standards and certification and public policy; gain access to premier startup programming, business planning, industry specific mentorship, and vetted service providers offering startup friendly terms; and opportunities to connect with investors for follow on funding.
“GENIUS NY continues to grow in popularity and brand awareness, attracting strong teams that have developed a minimum viable product or already commercialized their product,” said Rick Clonan, VP of Innovation and Entrepreneurship at CenterState CEO. “Adding additional rounds to the program, combined with a new investment structure and a growing portfolio of successful companies from past rounds will attract even more technology startups to the region.”
Participants are also integrated into the larger regional effort to grow unmanned aerial systems in Central New York and the Mohawk Valley, and will have access to world-leading infrastructure and testing assets when they come online.
To apply for GENIUS NY Round 3 click here. Applications are due October 14, 2018.