VPG Medical Wins Coveted Spot in Luminate Accelerator Program
Company Receives $100,000 Investment and Chance to Compete for $1 Million
November 14, 2018–VPG Medical Inc. has been selected to participate in the second cohort of Luminate NY—the world’s only accelerator program for startups with optics, photonics and imaging applications. VPG Medical will join nine other businesses in fast tracking the commercialization of their technologies. The startups competed against 70 companies from around the world, and were selected after pitching their businesses to an advisory panel comprised of renowned industry experts. The Luminate Lightning Awards competition took place at the George Eastman Museum in Rochester, NY.
As part of its entry into the accelerator, VPG Medical will receive an initial investment of $100,000, and will participate in a six-month program, which begins January 2019. In late June, the ten startups will compete in a Demo Day event for $2 million in follow-on funding. The $10 million Luminate NY program is funded by the Finger Lakes Forward Upstate Revitalization Initiative, and administered by NextCorps.
Luminate aims to assist entrepreneurs who are interested in solving challenging industry problems, including, but not limited to: machine vision, inspection, biophotonics, security, surveillance, augmented and virtual reality, and autonomous vehicles. VPG Medical is a digital health company that is commercializing a video-based technology that uses standard cameras embedded in smart devices and laptops for effortlessly and accurately monitor the heart. This technology has multiple uses, including in the management of atrial fibrillation and heart failure, as well as in several tele-health, medication compliance and wellness applications.
In addition to VPG Medical, Cohort II will be comprised of the following startups:
Circle Optics- New York, NY
Kura Tech- San Francisco, CA
Lumedica Vision- Durham, NC
Mango teQ LTD- Auckland, New Zealand
Neurescence- Toronto, Ontario, Canada
Opalux- Toronto, Ontario, Canada
The Organic Robotics Lab- Syracuse, NY
Ovitz- Rochester, NY
“The Luminate program represents a unique opportunity for VPG Medical to access a set of experts and resources that are key to our company’s development,” said Dr. Jean-Philippe Couderc, CEO of VPG Medical Inc. “We look forward to working with the Luminate team to scale VPG Medical and enable us to leverage our life-enhancing technologies to benefit countless healthcare users.”
Luminate NY is building on the U.S. Department of Defense-led American Institute for Manufacturing Integrated Photonics, which is supported by a $250 million commitment from New York State and is based in Rochester at the state-of-the-art AIM manufacturing facility located in On Semiconductor at Eastman Business Park. The facility will be used to test, assemble and package chips that use photons in place of electrons for increased performance of semiconductor circuits.
For more information on VPG Medical Inc., go to vpgmedical.com. To learn more about Luminate, visit luminate.org.