Applications Opening for Genius NY
Genius NY Round Three $1 million winner Sentient Blue continues to work with MPD Partners and the LaunchPad to help mentor Syracuse startups.
Syracuse University innovators are invited to apply to GENIUS NY, the world’s largest business accelerator competition for emerging technologies such as unmanned systems, IoT and big data startups. GENIUS NY awards a total of $3 million to five teams, with the grand prize winner receiving $1 million and the other four teams each receiving $500K. Teams participate in an accelerator program at The Tech Garden in downtown Syracuse. LaunchPad ventures, including SU faculty teams, have been the recipient of Genius NY funding. The 2019 $1 million grand prize winner, Sentient Blue, remains an active member of the LaunchPad, working with MPD Partners on coaching Syracuse student ventures. Applications will open January 2021.
In exchange for acceptance into the GENIUS NY accelerator, all finalists are required to adhere to the GENIUS NY terms and conditions, including 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. Finalists are selected from a competitive pool of submissions from across the globe. The program provides startups the tools they need for success, including stipends, incubator space, resources, programming, advisors and connections.
Eligibility:
- 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:
- 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 the business and its commercial viability
- Skill sets and experience of Principal/Team participants
- Scalability and ability to attract additional investment
- Market potential for monetization