Application Deadline Approaching for Startups to Participate in Luminate NY Competition and Business Accelerator
Applications Due Jan. 17 for Accelerator Offering Immediate Funding and the Chance to Compete for up to $2 Million in Follow-On Investment
ROCHESTER, N.Y., Jan. 06, 2022 (GLOBE NEWSWIRE) — NextCorps today issued a reminder that the deadline is just days away to apply for Cohort 5 of Luminate NY—the world’s largest business accelerator and investment fund for early-stage companies working on solutions that are enabled by optics, photonics, or imaging (OPI). Application submission, which has been extended by one week, is due by 11:59 PM EST on January 17, 2022. This year, participation in the Rochester, NY based accelerator will be mostly remote, with select weeks in person for pitches to investor groups.
Any startup, regardless of its location or industry, is encouraged to apply if it is developing a new application that leverages some aspect of OPI, such as a cell phone camera for photos and video, machine or computer vision, light, or sensors that can help detect characteristics like location, motion, damage, and facial recognition. Companies accepted into Luminate’s portfolio in the past have been from diverse industries, including autonomous vehicles, augmented reality/virtual reality, climate tech, communications, defense, entertainment, medical device, quantum computing, security, and more.
Luminate provides significant support to startups, including an immediate investment of $100,000 upon acceptance, expert mentorship, and access to investors, lab facilities, and comprehensive curriculum. Upon graduation from the six-month program, the companies compete for a portion of $2 million in follow-on funding provided through the Finger Lakes Forward Upstate Revitalization Initiative.