Selected Teams from Around the World Will Compete for a Total of $3 Million in Investments and Participate in Yearlong Program in Central New York.

Program is supported by “CNY Rising” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy

Empire State Development (ESD) today announced the five teams selected to take part in round eight of the innovative GENIUS NY business accelerator. The five finalists include teams from around the world that are advancing both software and hardware applications. They were selected from a highly competitive pool of applicants. Two of the finalists are minority owned, and one is woman co-founded. The teams will compete for $3 million in direct investment, with one grand prize of up to $1 million and four $500,000 awards. The program is the largest business accelerator for the uncrewed systems industry in the world. GENIUS NY participants are required to commit to operating their business in Central New York for at least one year. Supported by the CNY Rising Upstate Revitalization Initiative (URI) and administered by CenterState CEO, the selected companies will participate in the yearlong program at The Tech Garden, in downtown Syracuse. 

Empire State Development President, CEO & Commissioner Hope Knight, “ESD is committed to supporting entrepreneurs through strategic investments that are revitalizing Central New York. The successful GENIUS NY competition draws global innovators to advance the region’s uncrewed aerial systems industry, creating quality jobs, boosting economic growth and ensuring New York State’s top spot in the UAS stratosphere.”

Starting August 2024, the five selected companies will move into downtown Syracuse where they will begin to refine work on their business cases, which they pitch to a panel of judges at Innovation Night on Oct. 28, 2024. This year, Innovation Night is a partner event to the New York State Innovation Summit, hosted by FuzeHub and supported by Empire State Development’s Division of Science, Technology and Innovation (NYSTAR).

Kara Jones, Director of GENIUS NY, said, “Our GENIUS NY staff is dedicated to helping these five finalist companies refine their businesses, advance their technologies and become global leaders in the uncrewed systems space. The growing resources this program and region have to offer in the UAS space make Central New York a perfect place for innovative companies to grow and thrive. We look forward to welcoming the teams to the region and supporting all that they accomplish.”

The five selected finalists are:

Aerialoop– Miami, FL, USA
Aerialoop’s drones streamline deliveries by creating efficient middle-mile networks between warehouses and stores, enabling faster and more affordable shipping.

Aviant – Oslo, Norway
Aviant leverages advanced drone technology to provide autonomous last-mile delivery solutions, enhancing efficiency and reliability in logistics. Their system offers a seamless, on-demand delivery service, reducing delivery times and costs while improving customer satisfaction. 

Crover – Edinburgh, Scotland, UK
Crover develops uncrewed vehicles/systems that can “swim” through grains and powders to monitor and manage grain storage more accurately, helping operators reduce losses, improve quality and ensure better safety. 

Flyhound – New York, NY, USA
Flyhound helps public safety agencies save lives by locating and identifying people fast in emergencies using their existing drone.

INVOLI – Lausanne, Switzerland
INVOLI provides innovative, cost-effective surveillance solutions for low-altitude airspace, enhancing safety and operational efficiency for drone operators, small airports and infrastructure managers.

Throughout the program, teams will have access to CenterState CEO’s The Tech Garden, which includes workspace at Equitable Tower, experts and other founders specific to their industry, executive advisors, recruiting, marketing and fundraising support, programming and events, the opportunity to apply for the UAS Job Fund, as well as other perks like access to platforms such as PitchBook, and offer companies AWS credits. The goal is to encourage all participants to put down roots and stay in the region following the conclusion of the program.

Rob Simpson, President of CenterState CEO, said, “We’re excited to welcome the next cohort of GENIUS NY companies to Central New York this summer and begin connecting them to all of this region’s assets in the UAS ecosystem. They’re arriving during a time of great opportunity and growth in Central New York. With the NY SMART I-Corridor becoming one of 12 federal Tech Hub award winners, The Tech Garden’s expansion project and continued progress across our innovation economy, these companies will have access to even more resources and expertise.”

Since 2017, GENIUS NY has invested nearly $21 million in 37 companies from around the world. The program brings companies to Central New York to participate in the yearlong in-residence accelerator where they receive assistance with product development, business development, as well as networking opportunities with investors and business leaders. In addition, GENIUS NY companies have raised more than $100 million in follow-on funding and have created hundreds of new jobs in New York state. 

 

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For additional information about CenterState CEO, visit: https://centerstateceo.com/.

Accelerating CNY Rising

Today’s announcement complements “CNY Rising” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on capitalizing on global market opportunities, strengthening entrepreneurship and creating an inclusive economy. More information is available here.

About Empire State Development

Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of “I LOVE NY” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov.

View the full press release from Empire State Development.