Syracuse, N.Y. — Five startup companies in the drone industry have been chosen to compete for $3 million in award money in the latest round of the Genius NY business accelerator program in Syracuse.
Empire State Development, New York state’s economic development arm, announced the five finalists on Thursday for the seventh annual round of the competition, which is based at The Tech Garden in downtown Syracuse. They were selected from 450 submissions.
One grand prize of up to $1 million and four $500,000 prizes will be awarded as part of the yearlong business accelerator program. The finalists are required to commit to operating their business in Central New York for at least one year.
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