Two Rochester-area companies have been named finalists in the 2020 Commercialization Competition, sponsored by FuzeHub, a not-for-profit organization responsible for assisting small to medium-sized manufacturing companies in New York state.
Locally, WexEnergy LLC and Paradigm of NY LLC were chosen as finalists in the annual competition.
As part of the Jeff Lawrence Manufacturing Innovation Fund, FuzeHub will hold its fourth Commercialization Competition virtually on November 18 and 19. Fourteen entrepreneurs statewide have been selected as finalists and will pitch their ideas during the online event. A total of $300,000 will be awarded to the top presentations.
“FuzeHub is excited that we are able to host the event again this year with modifications to allow the companies to pitch remotely. This has been a successful program for the past three years and has contributed to the growth of both the innovation ecosystem and manufacturing in New York state,” said Julianne Clouthier, director of industry engagement at FuzeHub. “We hope the virtual platform will provide an opportunity for potential investors to see the caliber of companies that will present their prototype product or technology.”
The virtual two-day event will feature a panel discussion that showcases the entrepreneurial journey of three prior competition awardees, networking and an opportunity to see some of New York’s newest innovators.
Companies will demonstrate the commercialization potential of their product or technology for the opportunity to win up to $50,000. Award funds must be used to improve a working prototype that will enable the company to pursue additional investment and customers, leading to the commercialization of its product concept.
WexEnergy’s demonstration will focus on WindowSkin, a low-cost window retrofit that reduces operating expenses for building owners by improving the energy efficiency of aging windows. The product involves no construction, no tools and no disruption, officials explained.
Paradigm of NY’s product is the Paradigm Plasma System, which is a diesel emissions control device that eliminates up to 98 percent of the carbon soot in diesel engine exhaust. The company said truck fleets and bus fleets can reduce carbon dioxide and improve fuel mileage up to 6 percent, reduce maintenance costs up to 25 percent and increase engine uptime with the product.
“This is considered one of FuzeHub’s signature events. It brings awareness to the diversity of innovation and entrepreneurship that exists in all of our regions across New York. Each year, we continue to see new cutting-edge products and technologies,” said FuzeHub Executive Director Elena Garuc. “These awards can be an essential element to help companies achieve sales and growth.”
The event will allow individuals to network with others in the entrepreneurial and investment ecosystems and see how FuzeHub is continuing to spur technology development and commercialization across New York State. Registration and full agenda details are available at FuzeHub Commercialization Competition 2020.