Tag: sundensity

Luminate NY participants to create 120 jobs in downtown Rochester

Two previous participants in the state-funded Luminate NY competition have committed to creating nearly 120 jobs in the city of Rochester’s Downtown Innovation Zone.

SunDensity will create close to 60 jobs as it establishes its pilot, high-tech manufacturing operations here. (provided)
SunDensity will create close to 60 jobs as it establishes its pilot, high-tech manufacturing operations here. (provided)

SunDensity, which originated from MIT and was awarded the top prize of $1 million in round three of the optics, photonics and imaging competition in 2020, will create close to 60 jobs as it establishes its pilot, high-tech manufacturing operations here.

Circle Optics, the round two $250,000 winner that was founded New York City in 2017, also will create approximately 60 jobs at the repurposed Sibley Square building downtown.

Round two winner Ovitz already has established its headquarters in Rochester, and the competitions’ inaugural winner, Double Helix Optics, has actively leveraged the optics infrastructure in the Finger Lakes region by partnering with local optics firms to develop and manufacture new products. To date, the 40 companies in the Luminate portfolio have created 100 jobs within the region, officials noted.

“Luminate NY continues to build upon Rochester and the Finger Lakes’ legacy for innovation in optics, photonics and imaging,” said Lt. Gov. Kathy Hochul in a statement. “The announcements by SunDensity and Circle Optics demonstrate their commitment to the Rochester area, and shows our investments are helping to grow the high-tech industry, creating good-paying jobs and boosting the region’s economy.”

The Luminate NY accelerator is based in Rochester and selects 10 promising companies each year to participate in its six-month program. During that time, companies are provided with comprehensive training and resources to advance their technologies and businesses. Round four is underway with the finals event planned for this fall. The accelerator competition requires that the winners commit to establishing operations in Rochester for at least 18 months.

“The Luminate Accelerator continues to bring the most promising OPI companies from around the world to the Finger Lakes Region,” said Luminate Managing Director Sujatha Ramanujan. “In addition to our rich research, development and manufacturing facilities here, these companies are finding that Rochester provides a viable soft-landing for their businesses to establish a U.S. presence.”

The Luminate NY Finals 2020 marked the half-way point of the five-year, $25 million Luminate Accelerator program, which is funded through the Finger Lakes Forward Upstate Revitalization Initiative and administered by Nextcorps. Since its inception, the accelerator has invested $8 million in 40 startups. The companies in the portfolio now share a net worth of $300 million. In addition to providing an estimated 1.5 to 2 times return on investment, many of the participating companies are also establishing U.S. operations or some aspect of research and manufacturing in the Rochester region—which continues to be the epicenter of the OPI industry in North America, officials said.

“We are grateful for Empire State Development’s generous support. Luminate and the NextCorps incubator, along with the Greater Boston Economic development team, continue to provide resources and information for SunDensity growth in downtown Rochester,” said SunDensity Founder and President Nishikant Sonwalkar. “We anticipate creating a large number of clean energy, high-paying jobs and to contributing to the goal of a carbon zero economy to save our planet from environmental disasters.”

Added Circle Optics CEO Zak Niazi: “Since moving our company to Rochester in 2019, we have brought on board a world-class team of a dozen image scientists, opto-mechanical engineers and digital camera experts. We are committed to helping grow the local economy by building the next generation of immersive 360-degree capture technology right here in upstate New York.”

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SunDensity signs research agreement with UR

SunDensity CEO Nish Sonwalkar works on innovative photonic smart coating in the Luminate lab facilities. (provided)
SunDensity CEO Nish Sonwalkar works on innovative photonic smart coating in the Luminate lab facilities. (provided)

SunDensity, a Luminate NY cohort, has inked a research agreement with the University of Rochester’s Institute of Optics. As part of the one-year agreement, UR will combine its experience, skills and ability in optical sciences with SunDensity’s goal to speed the manufacturing process and design of its nano-optical coating equipment.

SunDensity is the developer of the Photonic Smart Coating technology that increases solar power output and has additional applications in consumer electronics and architectural glass. The startup was named Company of the Year and was awarded $1 million in follow-on funding during Luminate’s third competition last fall.

The company plans to continue using its funding to scale up its manufacturing process in Rochester, officials said on Tuesday.

“Accelerating key partnerships with university laboratories in the region is a core part of our five-year growth plan. The agreement with University of Rochester is unique in that it enables students to get involved with a clean energy startup, as well as provides opportunities to support economic development,” said SunDensity CEO Nishikant ‘Nish’ Sonwalkar. “The research agreement is another step forward in helping us to create a successful venture that will not only lead to local job growth and revenue impact but also bring talent together in pursuit of furthering climate change in New York State and beyond.”

SunDensity produces Photonic Smart Coating for utility solar power producers that need to reduce the cost of energy. Its nano-optical coating improves solar output by 20 percent over other coatings for solar panels, thus propelling solar energy adoption into the next generation of clean power, officials said.

“SunDensity’s transformative technology will help capture the energy of the sun, turning the same light into more electricity. The fundamental physics of converting a high-energy photon into more usable, lower-energy photons is almost as exciting as the impact on our quest for sustainable energy,” said Scott Carney, professor and director of the Institute of Optics. “The collaboration also benefits our researchers, adding new jobs and internship opportunities.”

SunDensity is on a fast development track. It established its research lab at NextCorps’ incubation facility, has hired eight employees and is working with eight glass vendors, five solar panel manufacturing companies and AIM Photonics in the region on technical aspects of its technology. It hopes to surpass the $1 million mark in sales revenue by the end of 2026. The company’s plan is to establish other manufacturing facilities statewide and new partnerships globally to further its climate change goals.

“These types of collaborations with university, photonics and optics companies in Rochester, and state and federally funded facilities are very important for innovators to establish. Early-stage companies are always looking for expertise and human resources — that was a core reason we selected Rochester as it is the photonics capital of the world. The impact we can make with key industry players here, including the University of Rochester and Rochester Institute of Technology, puts us in a strong position to speed the commercialization of our coated glass panels on a large scale to meet the demands of utility solar power producers,” Sonwalkar said.

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Luminate NY winners announced

A Boston-based tech manufacturer will receive a $1 million award and set up operations in Rochester as part of its Company of the Year Award in Round 3 of the Luminate NY Accelerator Competition.

SunDensity, which originated at Massachusetts Institute of Technology, will locate its manufacturing facility in Rochester. The company produces Photonic Smart Coatings (PSC) for utility solar power producers who need to reduce the cost of energy. Its nano-optical coating improves solar output by 20 percent more than other coatings for solar panels, thus propelling solar energy adoption into the next generation of clean power.

“We are really delighted to win this award. With this support, SunDensity is on its way to great success in New York State and beyond,” said SunDensity CEO Nishikant Sonwalkar.

Luminate’s Finals 2020 competition was held at the Optical Society’s International Frontiers in Optics & Laser Science APS/DLS conference. Funding comes from the state of New York through the Finger Lakes Forward Upstate Revitalization Initiative.

“Luminate NY’s strategic investments in these emerging companies have upheld New York as a worldwide leader in optics, photonics, and imaging,” Gov. Andrew Cuomo said Monday. “I congratulate SunDensity on winning Round 3 of the innovative Luminate NY competition and look forward to the company contributing to the growth of our region’s OPI industry, which will continue to help move the Finger Lakes economy forward.”

Finals 2020 marked the half-way point of the five-year, $25 million Luminate accelerator program. Since its inception, the program has invested $7 million in 30 startups. The companies in the portfolio now share a net worth of $160 million, officials said.

In addition to providing an estimated 1.5 to 2 times return on investment, many of the companies are establishing U.S. operations or some aspect of research and manufacturing in the Rochester region, which continues to be the epicenter of the OPI industry in North America.

Rochester-based Simulated Inanimate Models was awarded the Outstanding Graduate Award and $400,000. Its technology, SIM ARTS, offers an immersive “flight simulator for surgery” that eliminates patient risk by enabling surgeons to practice complete procedures on lifelike anatomical models in an augmented reality environment that does not require the presence of the expert instructing surgeon.

Rubitection, based in Pittsburgh, secured the Distinguished Graduate Award and $300,000 for its Rubitect Assessment System (RAS), which provides early bedsore detection and management tools. Honorable Achievements and $250,000 in funding each went to two companies: AkknaTek — a Germany based company providing a Lens Reviewer, Optical Imaging System that reduces post-operative refractive surprises after cataract surgery — and Nodetect, a Denmark company offering a portable, rapid nanosensor for analyzing biochemicals in the agriculture and farming industries.

“Luminate NY continues to give companies from around the world a resource-rich place to establish U.S. operations and to advance the caliber of their technology and business,” said Sujatha Ramanujan, managing director of Luminate NY. “It’s this type of inventive ecosystem and statewide support that makes the Finger Lakes region a smart destination for OPI based companies.”

The Luminate NY accelerator is based in Rochester and selects 10 promising companies each year to participate in its six-month program. During that time, companies are provided with comprehensive training and resources to advance their technologies and businesses. Applications are now being accepted for Round 4 through Jan. 7, 2021.

Because of the challenges presented by the pandemic, Luminate has adjusted its participation requirements. Teams that can physically locate to Rochester for the six-month program will receive $100,000 in funding upon program start in April 2021. Teams that are unable to locate to Rochester due to travel and Visa restrictions will receive $50,000 in funding upon program start and an additional $50,000 that must be used to engage resources in the Finger Lakes region during their time in the accelerator.

“The Luminate NY competition has been a great addition to Monroe County over the last several years and has really tapped into our region’s entrepreneurial spirit and storied leadership in innovation, photonics and advanced technology,” said Monroe County Executive Adam Bello. “The seed money that Luminate NY provides for these start-ups is critically important and can help to grow jobs and ideas right here in Monroe County. Congratulations to this year’s award winners.”

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