Governor Andrew M. Cuomo today announced that Sun Density is the winner of the third round of the innovative Luminate NY contest. SunDensity won the “Company of the Year” award at Luminate’s Finals 2020 Contest at The Optical Society’s International Frontier Inoptics + Laser Science APS / DLS Conference. The company will receive a $ 1 million investment from New York through the Finger Lakes Forward Upstate Revitalization Initiative. Upon request for the award, all winners of the contest promise to establish a business in Rochester for at least the next 18 months. Derived from MIT, Sun Density puts its business and manufacturing in Rochester. Managed by NextCorps, Luminate NY is the world’s largest business accelerator for start-ups with optics, photonics, and imaging-enabled technologies.
“New York’s strategic investment in these start-ups has supported New York as a world leader in optics, photonics, and imaging,” said Governor Cuomo. “Sun Density congratulates you on winning the third round of the Innovative Luminated NY Contest and looks forward to companies contributing to the growth of the OPI industry in the region that will continue to support the progress of the Finger Lakes economy.”
During the virtual event, Vice-Governor Kathy Hochul made a statement, recognizing the performance of the cohort company as well as the impact of Lumine New York on emerging technologies and the development of the Finger Lakes region.
“Luminate NY is driving innovation and paving the way for the Finger Lakes region,” said Deputy Governor Kathy Hochul. “Third round competition will continue to support businesses, grow high-tech industries, create jobs and boost the economy of the Rochester area. Congratulations to the winners of this year’s Luminate NY Contest. Innovative Photonics Investing in companies is a finger lake forward. “
Final 2020 marked the midpoint of the $ 25 million Luminated Accelerator Program for five years. Since its inception, it has invested $ 7 million in 30 startups. The companies in the portfolio currently share $ 160 million in net worth. In addition to providing an estimated 1.5-2x return on investment, many companies have established part of their business or R & D in the United States in the Rochester region, the center of the OPI industry in North America. ..
SunDensity can use Photonic Smart Coating (PSC) to increase the energy output of solar panels by 20%. PSCs improve the efficiency of optoelectronic devices such as solar cells by enhancing and shaping the spectrum of photons and converting wasted visible light into infrared light that is easier for many devices to use. For utility-scale PV manufacturers / glass manufacturers who want to lower their energy levelized cost of energy (LCOE) to win electricity bids, PSCs, unlike AR coatings, panel while significantly lowering LCOE. Increase the output.
A simulated inanimate model based in Rochester was awarded an excellent graduation award and $ 400,000. Its technology, SIM ARTS, eliminates patient risk by allowing surgeons to perform complete procedures with life-like anatomical models in an augmented reality environment that does not require the presence of a surgeon to direct specialists. We provide an immersive “surgical flight simulator”. Pittsburgh-based Rubitection has secured $ 300,000 for the Distinguished Graduate Award and its Rubitect Rating System (RAS), which provides early bedsore detection and management tools. The prestigious achievement and the $ 250,000 funding were donated to two companies each. A German-based AkknaTeka-based company, Lens Reviewer, an optical imaging system that reduces postoperative refraction surprises after cataract surgery, and Nodetect are portable for analyzing biochemicals in Denmark. We provide high-speed nanosensors. Agriculture and agriculture industry.
Dr. Sujatara Manujan, Managing Director of Luminate NY, said: “Luminate NY provides companies around the world with a wealth of resources to establish operations in the United States and improve their technology and business capabilities. The Finger Lakes region is a smart destination for OPI-based companies. To support the entire state. “
Dr. Nishikant Sonwalkar, CEO of SunDensity, said, “I’m really happy to receive this award. With this support, SunDensity has been very successful in New York State and elsewhere.”
Today’s investment was presented after a jury of judges from the OPI industry and the venture capitalist community scored companies in Cohort 3 based on their business pitch. The event also had the opportunity for over 800 participants to vote for their favorite company. The $ 10,000 Audience Choice Award was awarded to Kilo Medical Solutions, a medical startup that developed a product that could be connected to an incubator to control baby lighting in the neonatal intensive care unit.
Elizabeth Slogan, CEO of OSA, said: An image community that gathers behind early-stage companies with breakthrough technology. “
Luminate NY Accelerator is based in Rochester and selects 10 promising companies each year to participate in the 6-month program. During this period, companies will be provided with comprehensive training and resources to develop their technology and business. Applications are currently being accepted from Round 4 to January 7, 2021. Due to the challenges posed by the pandemic, Lumminate has adjusted the participation requirements. Teams that can be physically placed in Rochester during the 6-month program will receive $ 100,000 in funding at the start of the program in April 2021. Teams that cannot be placed in Rochester due to travel or Visa restrictions will receive an additional $ 50,000 at the start of the program, for an additional $ 50,000. It should be used to engage in resources in the Finger Lakes area while in the accelerator.
Last year’s winner, Ovitz, is headquartered in Rochester and employs four full-time staff and three part-time staff.
Eric Gartler, Deputy Commissioner, President and CEO of Empire State Development, said: Prosper in the Finger Lakes area. This investment creates jobs and boosts the local economy. I look forward to the progress of these companies as they continue to collaborate with mentoring partners across the region. “
“The winners announced today are further evidence of a lack of innovation and ideas in the high-tech optics and photonics category,” said Congressman Joe Morel. Congratulations to all the winners and applicants today. Efforts and dedication break down NY initiatives that keep our community moving forward. By leveraging their unique assets, we maximize the potential of our community and continue across the Finger Lakes region. Can promote economic growth. “
“Congratulations to all finalists in the third round, especially Sanden City, for being the winner of this round of the Luminized NY Contest. The Rochester region has optics, photonics and imaging,” said Senator Jolobach. With advanced technology, he has been a sustainable leader in these areas for generations. Seeing the success of all Lumminate NY competitors in all emerging technology businesses and startups. We encourage you to apply for this exciting fourth round.
Parliamentarian Harry Bronson said: “Congratulations to the winners of today’s Third Round Lumine New York Writing Awards. Today’s winners and their entrepreneurship create projects that will bring future jobs and economic growth to our states and nations. I know that this award will help build a bright future for the family. “
“Over the last few years, the competition in Luminate NY has had a major impact on Monroe County, and has appreciated the region’s entrepreneurship and leadership in innovation, photonics and advanced technology,” said Adam Bello, Monroe County administrator. It is very important that New York provides these start-ups and can help grow their jobs and ideas here in Monroe County. Congratulations to all the winners this year. “
Mayor Lovely A. Warren of Rochester congratulates Sanden City on the success of the third round of the Lumine New York Contest and wishes it success in the next exciting stage as a high-tech job creator in Rochester. It provides Lumine NY business leaders with a platform to bring their innovative ideas to the market, thereby further positioning our region as the world’s photonics and optics capital. Rochester these 21st century companies through Fingerlakes. We continue to thank Governor Kuomo and Empire State Development for bringing us forward in achieving our goal of creating more employment, safer and more vibrant districts, and better educational opportunities for our citizens. Let me support you. “
For more information on Luminate NY, please visit Lumminate.org.
Accelerate the advance of Finger Lakes
Today’s announcement complements the Finger Lakes Forward, a comprehensive blueprint for the region that produces strong economic growth and community development. The state has already invested more than $ 8.07 billion in the region since 2012, laying the foundation for its plans-investment in key industries such as photonics, agriculture, food production and advanced manufacturing. The region is currently 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 provides incentives for private companies investing more than $ 2.5 billion, and the regional plan projects up to 8,200 new jobs, as submitted. Learn more about.
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