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GENIUS NY How You Can Participate & Win $4 Million

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GENIUS NY How You Can Participate & Win $4 Million

genius is a person who displays exceptional intellectual ability, creative productivity, universality in genres or originality, typically to a degree that is associated with the achievement of new advances in a domain of knowledge. Despite the presence of scholars in many subjects throughout history, many geniuses have shown high achievements in only a single kind of activity.

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There is no scientifically precise definition of genius, and the question of whether the notion itself has any real meaning has long been a subject of debate,[citation needed] although psychologists are converging on a definition that emphasizes creativity and eminent achievement.[citation needed] Usually, genius is associated with talent, but many authors (for example Cesare Lombroso) systematically distinguish these term

GENIUS NY is an annually held event in New York that offers up and coming designers and startups a chance to demonstrate their creative drone designs. The best of the Unmanned Aerial System or UAS designs win prizes amounting to 3 million US dollars divided across 5 separate prizes.

For all the drone enthusiasts out there, the annual GENIUS NY Unmanned services pitch is back, and this time it is bigger than ever before. The competition held by Centrestate and Tech Garden has been a success story in encouraging newer startups to demonstrate their innovative drone designs. Prizes worth millions of dollars have already been won by the best ideas over the past editions of the GENIUS NY, and the trend is set to continue this year as well.

The judges of the competition view all of the competitors’ designs and evaluate them to decide on an eventual winner. The winning group is awarded one million dollars in prize money. The remaining four finalists are each provided with $500K worth of prize money each.

It is not just the lucrative prize money that the winners benefit from. They also receive further perks such as stipends from companies, special advisory help, Connections in the industry, more incubator space and additional resources.

Details about funding

The bulk of the funding for the GENIUS NY is done by the NYS Empire State Development, which, contributes 5 million USD for the project. Other associated sponsors also contribute significant amounts to the funding. Out of the net funding of the project, 4 million USD is awarded to the participants in the form of prize money and additional expenses such as subsidized housing, developer resources, advisory help, stipends and other significant resources.

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The teams participating in the final stage of the competition go through a 3-month accelerator process, at the end of which this expenditure amount is awarded to them.

 

Why The GENIUS NY And UAS Systems Are Important

Unmanned systems such as drones have utility in almost all fields of science and day to day life in today’s world. They are used in every sphere, from research purposes to full-scale military use. The unmanned systems can be broadly divided into 3 categories, based on the location of their use. These are namely – Unmanned Ground Systems, Unmanned Aerial Systems, and Unmanned Marine systems.

Out these categories, the Unmanned Ground Systems find a lot of use in our day to day lives. From garbage collection, clearing of Snow, to use in search and rescue operations as well as in self-driven cars which are gradually becoming a reality.

On the other hand, Marine Unmanned Systems are used for various research purposes such as the exploration of the deep sea where deep-sea divers cannot reach, and also for the monitoring the Marine environment.

However, it is the Unmanned Aerial Systems that has the widest range of utility. They are used for data collection for various purposes such as scientific monitoring and news, search and rescue operations, military reconnaissance, construction site inspections and delivery of essential items.

They provide a wide scope of utilization in almost every field of industry, and with creative designs, can be used in a versatile manner, which is the main goal for the GENIUS NY.

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How The Competition Works

In the competition, the competitors go through two phases of accelerator programs. Both the phases have the same goal of getting the most creativity out of the competitors, but each of them is designed with separate philosophies.

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The first phase is the main competitive phase. In this phase, the competing teams go head to head with each other in order to get the winning position and the highest prize money. During the duration of this phase, the teams are provided with subsidized housing along with a monthly stipend. They spend the first phase as a three month accelerator programme, working on their creative idea and producing the perfect pitch for winning the coveted prize money.

The teams are groomed during this accelerator period by different advisors, coaches and have lots of resources available to them to produce the perfect business pitch in front of the judges.

Following the first phase, the competing teams present their business pitch to the judges, at the end of the three month stage. After this, the teams enter into another 9-month accelerator phase or the second phase.

During the second phase, each team is partnered up with a mentor, based on their pitch. This provides them an opportunity to learn and work with the best minds in the Unmanned Aerial Services industry and allows them to refine their ideas as well as business models.

More resources and advisors are made available at this point, and an increasing number of workshops are held to make sure that the teams get acquainted with the workings of marketing, financing and other business sectors.

The second phase ends with a three-day demonstration event, held in New York, where all the teams demonstrate their technology and ideas to the judges and investors. This provides the kind of exposure that can skyrocket any technology startup. Following this, the teams are provided with additional funding and resources to encourage them to continue working in central New York.

GENIUS NY Winner

Application Procedure

Now that the details of the competition have been discussed, let us get down to the business of enrolling for the prestigious competition.

Every competitor willing to participate in the GENIUS NY needs to pass through the following steps:

  • Registering your company online in the applicant login page on the GENIUS NY website. For designers who have not yet started a company, the home address of the team leader is to be provided.
  • The next step is answering of a number of qualifying questions. For a company to be eligible, they should be able to answer yes to all the qualifying questions. In the event of a company not being able to do so, they do not qualify for the competition. The deadline for the application submission is October 1st, 2018.
  • Following this, the participants are required to submit the details about their company. The details should be provided in a manner that brings out the theme and mission for the company and convinces the evaluators to select the team as a part of the semifinals. The submission can be of various types. It can be details about a new idea, or the business plan that the company is working on, or any number of other things which will catch the eye of the evaluators.
  • For teams which are selected to the semifinals, their next step is to make a pitch to the evaluating panel. This is done either via a video conference or in person in Syracuse, New York.
  • From the semifinalists, the finalists are selected, who upon agreeing to the legally binding terms and conditions, move on to the final round of the competition in New York.
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The participants are selected on the basis of the quality of the idea and business plan, the scalability of their idea and the quality of the team behind the idea.

So, if you think your company has the next big thing in the field of Unmanned Aerial Services, apply for the GENIUS NY 2018 today. The last date of application is October 1st, 2018.

So, what do you think about this? Simply share all your views and thoughts in the comment section below. For the latest tech,social media news and reviews, follow firebebble.com on Twitter, Facebook and Instagram

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