Gov. Andrew Cuomo announced that The Tech Garden, a 10-year-old, multifaceted incubator program in downtown Syracuse that is one of our founding members, will manage a $3 million business accelerator competition aimed at startups with a focus on big data analytics, cybersecurity, and data-driven manufacturing. For more details, see Gov. Cuomo’s news release.
The accelerator, named GENIUS NY (for Growing ENtrepreneurs & Innovators in UpState NY), is the latest in a series of innovative programs at The Tech Garden that deploy a mixture of public and private funding to generate and de-risk investment opportunties for angel and VC funds both in the Central New York region and beyond:
- The Cleantech Center, contracted by NYSERDA to incubate clean-energy startups;
- The Germinator, a phased pre-seed investment competition under which the grand winner will gain $250,000 in capital;
- Grants for Growth, a long-standing program of The Tech Garden’s parent CenterStateCEO, which will manage a $1.5 million university technology-commercialization fund provided by the NYS Innovation Venture Capital Fund; and
- The ESD-designated Innovation Hot Spot for Central New York, providing entrepreneurial support and tax relief for startups situated at incubators throughout the region.
Together, these programs provide an unmatched resource for entrepreneurial development. We congratulate our member The Tech Garden and look forward to further announcement of matching arrangements with private-sector investors.