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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37 unmanned systems inside August/September 2017 ENGINEERING. PRACTICE. POLICY. region will need part 107 licenses to f ly small unmanned aerial systems, including those in big organizations such as first responder de- partments or police enforcement." One stipulation of Genius NY was that the six 2017 finalists had to give up 5 percent equity. For 2018, the top three teams will have to give up 6 percent equity, while the other three teams will have to give up 4 percent equity, Parry said. Rising Funding Genius NY is part of the overall trend in ris- ing funding for unmanned systems. Both deals and funding to unmanned systems startups have generally risen since 2012, though fund- ing did see a 5 percent dip in 2016, according to tech industry analysis firm CB Insights. There was a record 100 deals worth approximately $454 million in funding, and the first quar- ter of 2017 saw a quarterly deals record of 32 investments worth $113 million, CB Insights added. Given this funding landscape, Parry thinks Genius NY plays a valuable role "by focusing on companies that are too early-stage for a traditional venture capitalist. We're making investments enough to make teams grow for a 12- to 18-month period, and then venture capitalists or strategic investors can come in to help take them to the next level." "WE ARE LOOKING FOR A DIVERSE, COMPLEMENTARY GROUP OF TECHNOLOGIES." Jon Parry, director, Genius NY GENIUS NY team Ascent AeroSystems assembles drones in their lab at the Tech Garden in Syracuse, NY.

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