SYRACUSE, NY – GENIUS NY, a business accelerator program at CenterState CEO’s The Tech Garden, announced the application period for round seven has closed. The program attracted more than 450 submissions for this round, and pushed through roughly 50 applications to evaluators for scoring. Of the submissions received, more than half came from international teams, with Israel, Switzerland, Germany, UK and Poland representing the largest segment. The applications–from entrepreneurs and early-stage businesses focused on uncrewed systems, IoT and robotics–will now be evaluated by experts in the industry. Semi-finalists will be selected to present to Executive Advisors next month. Five finalist companies will be chosen to participate in the program, and will receive an investment of $3 million, including a grand prize valued at $1 million, and four investments totaling $500,000.
The five finalists will enter the in-residence accelerator at The Tech Garden in July 2023, and will be immersed in workshops, events and mentoring. Participants are required to operate their business in Central New York for one year during the program.
To date, GENIUS NY has invested more than $18M in 32 startups over six years. These teams have gone on to raise more than $100 million in follow-in funding and help create over 70 Upstate New York jobs. The advancement of the GENIUS NY program builds on the progress of CNY Rising, the region’s comprehensive strategy to revitalize communities and grow the economy.
Beyond investments, GENIUS NY 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 will be integrated into the larger regional effort to grow uncrewed 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. Participants also receive incubator space and stipends, as well as support in hiring, marketing and fundraising.