Luminate NY is now accepting applications for its sixth cohort.
Luminate NY is the world’s largest business accelerator and investment fund for early-stage companies working on solutions that are enabled by optics, photonics or imaging.
Luminate will select a total of 10 companies from the applicant pool. Applications are due by Jan. 9.
Luminate provides support to startups, including an immediate investment of $100,000 paired with a six-month hybrid mentoring program to help new companies scale both their businesses and technologies.
Startups applying must be incorporated, have at least two people working full-time on the business and should have proven their core technology, preferably having developed a working prototype.
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.
Teams winning follow-on funding must commit to doing some aspect of their business operations or manufacturing in the region for at least 18 months
Luminate NY is funded by the Finger Lakes Forward Upstate Revitalization Initiative, a strategy to foster economic development and revitalize communities and is administered by NextCorps.
“Luminate’s reputation continues to grow for how its OPI-focused funding, curriculum and mentoring advances the progress of emerging companies and the development of their technologies,” said Sujatha Ramanujan, Luminate NY’s managing director. “We encourage founders to apply to gain the benefits of this unique support, as well as the collaboration and connections we provide that can open new opportunities for scaling their businesses.”
The opening of the recruitment period comes just weeks before Luminate NY’s fifth cohort of companies competes for $2 million in follow-on funding during Luminate Finals 2022, which will take place on Oct. 19.
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