IDEA NY Mohawk Valley
Innovation & Development Entrepreneurial Accelerator
The Innovation & Development Entrepreneurial Accelerator, known as IDEA NY Mohawk Valley, is a business accelerator competition and twelve-month program that will incentivize promising entrepreneurs to create and grow viable commercial businesses in the Mohawk Valley region. This accelerator program is made possible by a $2 million Upstate Revitalization Initiative grant from New York State Governor Andrew M. Cuomo.
IDEA NY will focus on the Cyber Security, Big Data Analytics, Information Systems and UAS industries, and builds on the successful Air Force Research Laboratory Commercialization Academy – a national leader for facilitating the transfer of military technologies into the commercial marketplace.
Startup teams will enter a Commercialization Academy cohort, and then compete at Demo Day for $300,000 in prize seed funding, with $200,000 going to the overall winner and $100,000 going to the second-place runner-up. The remaining teams will be awarded up to $8,000 in “consolation” prize money for reimbursement expenses.
The teams will then participate in the year-long IDEA NY accelerator program, in which technical assistance will be provided by the Griffiss Institute, the Griffiss Institute Business Incubator, a Certified NYS Business Incubator, and Mohawk Valley EDGE. Participating teams will be required to reside in the Mohawk Valley region for a 12-month period after Demo Day.
Application and Agreement
There is no application for the IDEA NY program. The participation requirement for IDEA NY is that you must be accepted into and successfully complete the AFRL Commercialization Academy in order to participate in IDEA NY. Applications for the next Commercialization Academy cohort are currently being accepted. To be considered for the Spring 2020 cohort, you must have your application in by January 31, 2020.
IDEA NY Mohawk Valley Announcement
Governor Cuomo Announces $2 Million IDEA NY Business Competition
Governor Andrew M. Cuomo today announced $2 million has been awarded to the Griffiss Institute to support IDEA NY, a business accelerator competition and twelve-month program, focusing on cyber security, big data, info systems and UAS startups, that will incentivize promising entrepreneurs to create and grow viable commercial businesses in the Mohawk Valley region. The Innovation & Development Entrepreneurial Accelerator NY Mohawk Valley program will focus on the Cyber Security, Big Data Analytics, Information Systems and UAS industries. It will also build on the successful Air Force Research Laboratory Commercialization Academy - a national leader for facilitating the transfer of military technologies into the commercial marketplace. The award was recommended by the Mohawk Valley Regional Economic Development Council. [keep reading]