Governor Kathy Hochul announced Blueflite as the $1 million grand prize winner of round seven of the GENIUS NY accelerator. Founded in 2018, the company offers a drone-based logistics platform.
It’s patented, unique, and all-electrical drone design has vertical take-off and landing capabilities, advanced maneuverability, and is built to meet the rigorous demands of commercial operations. The GENIUS NY program is the world’s largest business accelerator program focused on uncrewed aerial systems, robotics and IoT.
The year-long program, which is administered by CenterState CEO’s Tech Garden in Syracuse, awarded five finalist teams a total of $3 million at Pitch Finals at its Innovation Night event in downtown Syracuse, including the $1 million grand prize and four $500,000 investments. The accelerator also offers incubator space, company resources, programming and mentoring to finalists. Participants are required to operate their business in Central New York for at least one year.
To date, New York State has made $21 million in direct investment in 37 GENIUS NY teams over the program’s seven rounds.
“From Micron to supporting innovative entrepreneurs, my administration remains committed to making key investments that are helping to boost and revitalize Central New York,” Governor Hochul said. “As a result, the GENIUS NY competition continues to attract innovative entrepreneurs from around the world who are laser-focused on expanding the ever-evolving aerial system industry in the region, ensuring that New York State remains at the forefront of this vital field, bringing quality jobs and economic growth to the region.”
The five finalist teams pitched their businesses to a panel of judges and the audience during the Pitch Finals at Innovation Night. Following the pitches, all five competitors were awarded one of five investments, with Blueflite winning the grand prize.
Blueflite Co-Founders Frank Noppel and James McClearen said,
“Blueflite is thrilled to have won the prestigious GENIUS NY $1M prize, organized by CenterState CEO. We see this as a remarkable achievement and testament to our capabilities, and we are enthusiastic to begin an exciting journey strengthening our presence in the State of New York. The support from GENIUS NY has been invaluable, and we look forward to drive innovation and excellence in the drone industry, benefiting not only our company but also the communities we serve.”
The other four teams received a prize of $500,000: Aloft, GreenJets, Voltela, and VOTIX, which was also named as fan favorite at tonight’s event.
Since 2017, GENIUS NY companies have raised more than $100 million in follow-on funding and have created more than 80 new jobs in New York State. The advancement of the GENIUS NY program builds on the progress of CNY Rising, the region’s award-winning strategic plan to revitalize communities and grow the economy.
Empire State Development President, CEO and Commissioner Hope Knight, said,
“The GENIUS NY program is fueling the incredible growth of the uncrewed aerial systems industry in Central New York. Congratulations to all of these forward-thinking innovators who are bringing their exceptional entrepreneurial ideas to the region and are ready to take advantage of New York State’s unmatched UAS assets and infrastructure.”
CenterState President Rob Simpson said,
“Investing in the innovative technologies created by GENIUS NY teams helps to spur advancement in the uncrewed aerial systems industry and Central New York’s startup ecosystem. Using these investments, the teams will be able to grow as a company, create jobs and further expand what it means to innovate in Central New York. As CenterState CEO expands its programming to include more diverse entrepreneurs and technologies in the area’s innovation economy, GENIUS NY remains a keystone in our success.”
Director of GENIUS NY Kara Jones said,
“Innovation Night brings industry leaders and the greater community together to celebrate the new technologies being developed right here in Central New York. Investing in GENIUS NY companies brings new ideas and new opportunities for collaboration to the region’s startup community. As the teams enter the next phase of the program, they will work to grow their company and advance their technology with the investment made through GENIUS NY and with the help of the team at CenterState CEO’s The Tech Garden.”
Source: Press Release