A $1 million prize is on the line in a Syracuse-based tech innovation competition.
GENIUS NY vets submissions from around the world to identify five finalists that compete for the top-dollar prize, while the four runners-up each get $500,000 to back their inventions. The tournament hosted at CEO CenterState's Tech Garden in Downtown Syracuse relocates five promising companies with free office space and support that are focused on unmanned systems for the year-long program.
This year's cohort includes companies from as far away as Poland but as near as an hour away. The Rochester-based Circle Optics is developing high-resolution wide views from drones in real-time. CEO Zak Niazi said his camera technology can provide the full 360-degree aerial view while helping drones navigate.
“Having a wider field of view means being able to sense and avoid objects all around the drone for autonomous navigation while seeing everything below the sky and can never miss a shot," Niazi said.
He said the GENIUS NY competition provides the opportunity to speak with mentors and drone companies for instant feedback and other ideas for their next product offerings.
Meanwhile, another start-up in the competition, CarScanner from Poland, is looking to capitalize on the popularity of used car sales. Slawomir Potasz said the technology assesses a vehicle’s condition — 360 degrees inside and out.
“The more data points around the used vehicle you provide to the online buyer, then actually you end up selling this car faster and sometimes even for more volume," Potasz said. " So by building confidence, you’re actually decreasing time when the car is sitting on your parking lot.”
The public can watch final pitches from the contestants in a virtual presentation available to the public on Oct. 26. Only limited number of in-person attendees are permitted due to the pandemic.
The GENIUS NY program is considered to be the largest business accelerator competition for unmanned aerial systems, or UAS — the technology used in drones.