Inside Unmanned Systems

AUG-SEP 2017

Inside Unmanned Systems provides actionable business intelligence to decision-makers and influencers operating within the global UAS community. Features include analysis of key technologies, policy/regulatory developments and new product design.

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AIR START-UP FUNDING 34 unmanned systems inside   August/September 2017 Unmanned technology is hot and funding opportunities abound for firms looking for venture capital. The deadline is nearing for one such contest for UAS firms—Genius NY. by Charles Q. Choi Photo courtesy of James Domroe, 325 Productions. E ven though investors are pouring money into drone startup companies it can still be chal- lenging to find the right connection. Now drone startups have a new potential avenue for money—the Genius NY program, one of the largest business compe- titions for unmanned systems in the world. In Genius NY, six finalists are chosen to compete for a chance at up to $1 million in funding. First place wins $1 million; second place $600,000; third place $400,000; and fourth through sixth places win $250,000. This com- petition is open only to companies focused on unmanned systems, including hardware, software and analytics. THE OTHER GENIUS GRANT NEW YORK'S FUNDING CONTEST FOR DRONE START-UPS The finalists each also receive a $10,000 per month company stipend as well as a housing subsidy and office space. More importantly the program connects them with speakers, instructors, workshops, and opportuni- ties for networking and investment. The Tech Garden in Syracuse, New York, which hosts Genius NY, can also help finalists find the kind of expertise any new firm needs in- cluding local firms to help with legal questions, insurance, accounting, marketing, manufacturing and so on. Like other incubators Genius NY helps the teams hammer out the gritty details of bringing their technol- ogy to market.

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