New updates have been reported about Luminate.
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Luminate NY, New York State’s optics, photonics, and imaging accelerator and investment fund, has selected 10 startups for its ninth cohort from 138 global applicants across 33 countries. Each company will receive an initial $100,000 investment when the six-month program starts in Rochester on April 13, and will compete for up to $2 million in follow-on funding at the September 30 graduation.
The program, administered by NextCorps and funded through the state’s Finger Lakes Forward Upstate Revitalization Initiative, is designed to sharpen investor readiness and speed commercialization, particularly in life sciences, AR/VR, advanced manufacturing, and sensing. Luminate Managing Director Sujatha Ramanujan said the accelerator is reinforcing the Finger Lakes region as a global center for optics and photonics, with Luminate having invested $23 million in 85 startups that have collectively raised an additional $497 million, built an estimated $725 million in portfolio value, and created 184 regional jobs as many establish U.S. operations or manufacturing in Rochester.