6 big innovations that could change Rochester’s economy

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Last month, our organizations—NYSTAR and FuzeHub—hosted the New York State Innovation Summit in downtown Rochester.

More than 500 New Yorkers gathered together to immerse themselves in the state’s innovation ecosystem.

This eye-opening event gave us an early look at the next wave of technology that could forever change the state’s economy. It also showcased emerging and established businesses that are harnessing those new technologies to fuel the growth of their companies and our communities.

Based on learnings collected at the Innovation Summit, we identified six significant forces that are likely to drive technological change as well as several innovators and entrepreneurs who are building companies that can harness those forces and potentially spark economic growth.

Artificial Intelligence

As 5G connectivity emerges, it will set in motion a fourth industrial revolution. More machines will be connected, communicating with each other and completing tasks without human interaction. Businesses are hungry for technologies that leverage AI to deliver value, presenting a real opportunity for local companies.

Rochester-based D3 Technologies works with manufacturers to incorporate technology systems that can enable self-driving vehicles, autonomous construction and agricultural vehicles, and much more. Meanwhile, Augmentir, which has offices in Rochester, has crafted augmented worker software that empowers frontline workers to do their jobs with increased quality and productivity.

Robotics & Automation

Also influenced by the emergence of AI, robotics and automation are changing factory floors across the state. Humans and robots are working side-by-side to enhance outputs, grow companies and create jobs.

Axis New York, headquartered in Rochester, identifies solutions that help manufacturers adopt robotic systems that advance productivity, precision and repeatability. And Amherst, N.Y.-based Programmable Equipment Company deploys a software platform called Work Automate, which helps companies semi-automate manual manufacturing tasks to standardize their products.

Sustainable Food Production

Upstate New York is home to some of the most promising food and beverage enterprises in the nation. There’s a surging interest among consumers and a growing need globally for sustainably produced food that maximizes economic benefits to communities and workers while minimizing climate impact.

Ithaca-based Capro-X and Victor-based The Perfect Granola, both $250,000 winners in the Grow-NY competition, showcased their work at the Innovation Summit. Capro-X will increase the dairy industry’s sustainability by converting certain byproducts into clean water and natural bio-oils, while The Perfect Granola has built a business model focused on social impact.

Digital Gaming

The global gaming industry is rapidly expanding. This burgeoning sector creates jobs for people with backgrounds in both technology and creative fields, providing opportunities for software engineers and developers as well as writers, artists and others.

As home to world-class tech centers like Rochester Institute of Technology and Rensselaer Polytechnic Institute, New York is producing the talent to drive this sector’s growth. And some entrepreneurs in the space, such as 43North winner Immersed Games, are crafting games that assist with education and other social needs.

Optics, Photonics and Imaging (OPI)

Rochester’s legacy and its economic future are rooted in the OPI industry. While it’s the birthplace of some of the world’s greatest OPI companies, the region is also home to several rising stars in the space.

Ontario, N.Y.-based Optimax produces precision optical components for applications across industries, and it has created great jobs for local workers. L3Harris Technologies also has a major regional presence and robust capabilities in precision optics. LighTopTech, Mosaic Microsystems, Molecular Glasses and Circle Optics are among the emerging locally based companies.

Biotech Solutions for Better Health

Health care remains an important, growing sector for New York’s economy. As a leading source of local jobs, the industry has also sparked innovations that have the potential to improve public health and patient experiences.

Syracuse-based Quadrant Biosciences is developing diagnostic tools that target neurological health issues. Buffalo-based Circuit Clinical is creating new pathways for patients to access clinical trials while addressing a challenge for physician researchers.  These New York State companies and others like For Robin, Harmonigenic Corporation and Efferent Labs could have an impact measured not just in economic figures, but also in improved health outcomes.

Rochester and New York State are well positioned to capitalize on these forces — and NYSTAR, Empire State Development’s Division of Science, Technology and Innovation, and FuzeHub, the statewide New York Manufacturing Extension Partnership center, are here to help local companies make it happen.

Matt Watson is Senior Vice President and Executive Director of NYSTAR, Empire State Development’s Division of Science, Technology and Innovation. Elena Garuc is Executive Director of FuzeHub, the statewide New York Manufacturing Extension Partnership center.