Empire State Development (ESD) today announced the 10 companies selected to take part in round seven of the Luminate NY accelerator program, investment fund, and competition. A total of 137 applications from 25 different countries were received for consideration to participate in the world’s largest accelerator for startups working on industry-first solutions that are enabled by optics, photonics, and imaging (OPI). The companies were selected after pitching their innovative ideas and being scored by an advisory panel comprised of industry experts. Each finalist will receive an initial investment of $100,000 and will have the chance to compete for up to $2 million in follow-on funding upon completion of the accelerator program. The cohort will begin on April 8, 2024, and conclude in late September.
Empire State Development President, CEO, and Commissioner, Hope Knight said, “Congratulations to the latest entrepreneurial companies selected to take part in Luminate NY’s seventh cohort. The cutting-edge ideas from these optics, photonics and imaging startups will help to drive innovation and opportunities in the Finger Lakes Region, renowned globally as an OPI industry leader, and throughout New York State.”
The six-month program is designed to help founders improve their investor readiness and connect them with the vast OPI resources throughout the Finger Lakes Region that can help them speed the commercialization of their technologies. Funding for the program, which is administered by NextCorps, is provided through the Finger Lakes Forward Upstate Revitalization Initiative—the region’s comprehensive strategy to revitalize communities and foster economic growth.
Cohort seven is solving challenges within a number of industries, including, but not limited to: augmented/virtual reality, communications, life sciences, material science, and quantum.
The 10 selected startups include:
- AI Optics, Inc.—Handheld imaging technology that integrates Artificial Intelligence (AI) to provide a new standard of care for disease screening, starting with preventing vision loss
- CureVision—Automatic, rapid 3D wound measurement, analysis, and reporting for hospitals, nursing homes, and ambulatory and home care
- Enlipsium,-The company is developing advanced nanomaterials for future X-ray imaging devices, anti-counterfeiting, and self-cleaning coatings.
- iLoF (Intelligent Lab on Fiber)—Non-invasive tracking, screening, and stratification for drug discovery using a cloud-based library of optical fingerprints, powered by photonics and AI
- Nicslab, Inc.—Fabless chip company developing electronics and photonics integrated circuits for future optical solutions in data centers, AI, instrumentation, and quantum computing
- Photosynthetic—New manufacturing method enabling complex 3D geometries to be produced at mass-production speeds, while retaining sub-micron feature sizes
- Q-Block Computing—Fault-tolerant quantum devices for advanced computation, communication, and sensing
- SaferStreet Solutions— Traffic safety devices that target unsafe driving behavior and collect data to help communities reduce speeding, distracted driving, car crashes, and lack of seat belt usage
- SeeTrue Technologies—Advanced eye tracking technology featuring a robust sensing solution for use in health care, augmented and virtual reality, and industry applications
- VoxelSensors—Groundbreaking Single-Photon Active Event Sensor that enables power-efficient and intuitive interaction for spatial interfaces and mobile extended reality (XR)
For additional information about the Luminate NY accelerator including how to apply, click here. Also see Full article here.
Accelerating Finger Lakes Forward
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture and food production, and advanced manufacturing. 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.