Deadline Extended to Oct. 1 to Apply to Luminate Accelerator; Receive Startup Funding for Optics, Photonics and Imaging Applications

Luminate- NextCorps

Deadline Extended to Oct. 1 to Apply to Luminate Accelerator; Receive  Startup Funding for Optics, Photonics and Imaging Applications 
 
Luminate NY Offers Entrepreneurs Training and Support, Including a Chance to Win Up to  $1 Million in Funding and Ability to Work in a Robust OPI Ecosystem 
 
Rochester, NY — September 18, 2018 — The application deadline to compete for a spot in Cohort II of Luminate NY—the world’s only business accelerator for startups with optics, photonics and imaging (OPI) enabled applications—has been extended to October 1, 2018. Luminate NY provides significant support to early-stage startups, including an initial $100,000 convertible note, expert mentorship, and a chance to win up to $1 million in follow-on funding, provided through the Finger Lakes Forward Upstate Revitalization Initiative.   Luminate NY—a program of NextCorps—is accepting applications from around the world for consideration. Luminate NY will select approximately 20 companies to compete in a “Lightning Round” event in November, and will then pick 10 companies to participate in its next cohort. The cohort companies will receive an immediate investment and will be admitted to Luminate’s sixmonth accelerator program in Rochester, New York, starting in January 2019.  
 
Luminate’s inaugural competition was held in June 2018, and awarded Boulder, Coloradobased Double Helix Optics $1 million in follow-on funding. Three other companies received awards, ranging from $250,000 to $500,000. 
 
The comprehensive program takes advantage of the rich OPI ecosystem that exists in New York’s Finger Lakes Region, which has more than 150 OPI companies and partnering universities, including the University of Rochester, Rochester Institute of Technology, and Monroe Community College. Cohort companies get access to an extensive network of industry experts along with the customized curriculum and support to commercialize and scale their businesses. Upon graduation in June 2019, Cohort II will compete for a total of $2 million in follow-on funding.   Application Process – Oct. 1, 2018 - Deadline Quickly Approaching  To apply to Luminate NY, your startup must be incorporated, have people working full-time on the business, and have core technology that is proven, preferably with a working prototype. Applications will be accepted through 11:59 PM on Oct. 1. Apply to Luminate at https://luminate.org/apply/.   For more information on Luminate NY, go to www.luminate.org. 
 

Accelerating Finger Lakes Forward   
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $5.2 billion in the region since 2012 to lay the groundwork for the plan – investing in key industries including photonics, agriculture  and food production, and advanced manufacturing. Today, unemployment is down to the lowest levels since before the Great Recession; personal and corporate income taxes are down; and businesses are choosing places like Rochester, Batavia and Canandaigua as a destination to grow and invest in.   Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion – and the region’s plan, as submitted, projects up to 8,200 new jobs. More information is available here.  -

Media Contact: Shannon Wojcik 585-831-6267 (m) shannon@rkgcomms.com 

 

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