Sign In
Free Newsletter
Luminate NY has formed a strategic partnership with Silicon Catalyst, the world’s only incubator focused on accelerating semiconductor solutions, to recruit the most innovative early-stage startups into their accelerator programs to allow for concurrent participation.
The partnership will expand the support ecosystem for founders working on industry solutions that are enabled by OPI and semiconductor chip design to ultimately reduce the cost and complexity of development.
Sujatha Ramanujan, Luminate NY’s managing director, said critical technologies such as silicon photonics, lasers and electronic packaging rely on the integration of semiconductor technology and photonics.
“These complex integrations are the building blocks of emerging applications like autonomous sensing, augmented reality, artificial intelligence and quantum applications,” she said. “This partnership will help to close the development and manufacturing gaps that often exist when working across multiple technical disciplines to bring novel technologies to market.”
The partnership will also improve access to funding opportunities for early-stage companies.
Startups developing OPI-based products receive $100,000 upon admission to Luminate and have the chance to compete for up to $2 million on follow-on funding to support their growth. In addition, over the past 8 years, Silicon Catalyst has enabled access to over $400 million in funding to its portfolio companies, as well as over $200 million derived from both in-kind services and grants.
The partnership will also increase startup access to connections, collaborations and funding.
Luminate and Silicon Catalyst will collaborate on startup recruitment and selection, with a focus on elevating women and minority owned companies to ensure equitable access to comprehensive support. The organizations will also leverage their investor networks and portfolios to improve funding opportunities.
[email protected] / (585) 653-4021