Empire State Development announced today that Andluca Technologies has been selected as one of the ten finalists who will take part in Round 4 of the NextCorps Luminate NY Accelerator competition and program. 126 startups applied for entrance into the accelerator focused on optics, photonics, and imaging (OPI) enabled applications. Each of the ten finalists will receive an initial investment of $100,000 and will have the chance to compete for up to $2 million in follow-on funding upon completion of the program.
This six-month program is administered by NextCorps, begins on April 5, 2021, and is aimed at helping companies speed up the commercialization of their technologies and business. The Luminate NY Accelerator is funded through the Finger Lakes Forward Upstate Revitalization Initiatives – the region’s comprehensive strategy to revitalize communities and grow the economy in Upstate New York. Luminate NY Managing Director Sujatha Ramanujan is optimistic about the companies and their futures, “The companies selected have the potential to truly disrupt their categories. With access to our renowned regional resources, mentors, and investor network, we’ll help them speed the commercialization of their offerings so that they can have a meaningful impact on our world and on our regional community.”
The Luminate NY Accelerator program is located in what many call the optics and imaging capital of the world, Rochester, NY. The area is home to the most OPI patents in the nation (per capita). There are also unique and elite educational opportunities through the University of Rochester’s Institute of Optics (produces 60% of the Optics PhDs in the nation) and Rochester Institute of Technology’s Chester F. Carlson Center for Imaging Science (one of two schools in the US to offer an imaging science focus).
The Rochester area is the ideal place for Andluca to advance their technology and strengthen their supply chain. Andluca is developing visibly-transparent solar technologies that convert UV light into electricity. Together with Princeton University scientists, Andluca has developed two UV solar device architectures: organic photovoltaic (OPV) cells and organic luminescent solar concentrators (LSCs). The vibrant ecosystem around the Luminate program will help further the research and development of both of these two architectures.
About Andluca Technologies:
Andluca, a Princeton University spin-out, has developed UV-solar-powered smart glass for improving the energy efficiency of buildings. Andluca’s patented technologies can reduce building energy use by up to 40% while significantly enhancing occupant comfort and productivity. Unlike available wired smart glass products – which require major renovation and installation by an electrician – Andluca’s wireless smart glass can be installed quickly and non-disruptively. Learn more about Andluca here: https://andluca.com/
Luminate is the only international startup accelerator focused solely on next-generation optics, photonics, and imaging (OPI). Located in the world capital of imaging—Rochester, New York—Luminate is bringing visionary entrepreneurs from around the globe together with OPI pioneers and qualified investors to speed innovation and time to market. It’s also providing early-stage companies with the capital necessary to further develop their technologies, including up to $100,000 upon program acceptance, and a chance to win up to $2,000,000 in follow-on funding. The accelerator program is administered by NextCorps, a non-profit catalyst for entrepreneurship in the Rochester area and Finger Lakes Region of Upstate New York.
About Finger Lakes Forward:
Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive blueprint to generate robust economic growth and community development. The State has already invested more than $8.07 billion in the region since 2012 to lay the groundwork for the plan—investing in key industries including photonics, agriculture and food production, and advanced manufacturing. Now, the region is accelerating Finger Lakes Forward with a $500 million State investment through the Upstate Revitalization Initiative, announced by Governor Cuomo in December 2015. The State’s $500 million investment will incentivize private business to invest well over $2.5 billion—and the region’s plan, as submitted, projects up to 8,200 new jobs.
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