Sponsoring Agency: GENIUS NY
Type of Fund: Accelerator, Incubation, Mentorship and/or Training
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 04/30/2021
Size of the Fund: USD $500,000 to $1 Million
GENIUS NY, a $3M business accelerator competition in Central New York, is seeking startups from around the world in unmanned systems, IoT, big data and robotics.
The accelerator is funded by Empire State Development and housed at CenterState CEO's Tech Garden incubator in downtown Syracuse, NY.
Five finalists are selected from a competitive pool of submissions from across the globe each year. The accelerator provides startups all the tools they need for success, including stipends and award money, resources, programming, mentors and connections.
Funding Information
• GENIUS NY awards a total of $3M to the five teams selected for the accelerator. The grand prize winner receives $1M while the remaining four teams each receive $500K.
• In exchange for acceptance into the GENIUS NY accelerator, all finalists are required to adhere to the GENIUS NY terms and conditions, which includes, among other things, providing CenterState CEO with a 10-year warrant for 6-8% equity in their company and relocating their business to Central New York for the one-year term of the program.
Eligibility Criteria
• Businesses must be a startup or an existing business with less than $500,000 per year in revenue.
• Businesses must be seeking outside equity capital.
• Business focus must be in the broader categories of:
o Unmanned systems, IoT, big data, robotics, AI
• Willingness to operate under the Terms and Conditions set forth by GENIUS NY.
• Willing to commit to living on a full time basis in Central New York for one-year acceleration period.
• Able to speak or communicate in English.
• Able to travel to the United States with proper travel/work visa (GENIUS NY has no involvement or responsibility in securing participation entry documentation.
Selection Criteria
• Clarity of business – we should be able to understand what this business is.
• Viability – is there a market and a way to monetize.
• Principal/Team participants – we want to know if the proposed team can make it.
• Scalability – can your business scale and attract additional investment.
• A true entrepreneurial startup – no Pizza Chains please.
• A commitment to live and work in Central New York for the duration of the accelerator
More information at: http://www.geniusny.com/apply.html
