The application period opens on August 1, 2020 and closes August 31st at 4:00PM. The application round closes promptly at 4:00PM EST on August 31, 2020. Allow enough time to answer all of the application questions and to upload all required files before 4:00PM. Changes can be made to an application until the 4:00PM EST deadline on August 31, 2020, as long as the application has not been submitted. If the application is submitted in the specified timeline, applicants will receive a confirmation email. There will be no exceptions for this deadline.
Software products and software services including, but not limited to: mobile applications, big data, digital gaming programs, Artificial Intelligence (AI) projects, and SaaS platform services; proof-of-concept (theories/hypotheses that have not been tested to show promise); and new product launch for any established company with total revenue in excess of $100,000 are excluded from this competition.
Each applicant must upload a video (3-5 minutes) to address the following three tasks:
1. Demonstrate the working prototype;
2. Describe what stage the prototype is in (alpha test, ready to show customers, etc.); and
3. Explain the features that were developed based on customer discovery.
The video should not be longer than five minutes in length. For proposals where a physical prototype cannot be produced, the applicant must upload supporting material to document that the product/technology has been proven. Note: videos and supporting material must be uploaded in .mp4, .png, .jpg, .jpeg, .pdf, or YouTube format. Applicants are restricted to two separate uploads.
Keep in mind that large video files can take longer to upload and download, so try not to upload more than 1000MB.
Once an applicant has formally submitted an application and has received a confirmation email, no further changes can be made to the application. (It is possible to make changes to the application until the 4:00PM EST deadline on August 31, 2020 as long as the application has not been submitted.) Applicants are encouraged to submit their applications before the deadline to avoid potential time-related technical issues.
As a condition to receiving any award proceeds, competition winners will be required to enter into a Simple Agreement for Future Equity (SAFE) agreement with FuzeHub. A template of the SAFE agreement is available here.
Companies that apply to participate in the Commercialization Competition continue to be eligible to apply for other FuzeHub funding. If a company receives multiple FuzeHub awards, FuzeHub will work with that company to ensure that the awards support separate scopes of work.
There is a detailed step-by-step guide to help applicants use the SurveyMonkey Apply application platform. Applicants may download this guide from within the portal, from the menu Pages, CC Resources, Application Step-by-Step Guide. If you have a technical question or problem, call 518-768-7030 or email the Innovation Fund at email@example.com.
Once an applicant has made it through due diligence processing, there are two rounds of judging: application via SurveyMonkey Apply that includes a Commercialization Summary Slide deck and video submission, and a competition pitch presentation.
A panel of judges will be announced prior to the event and information will be made available on the FuzeHub website. Competition judges are from local, regional and statewide partner organizations. Application material of the finalists will be shared with the selected judges prior to the event.
The Commercialization Competition has awarded $850,000 in funding to fifteen New York State early stage companies since its inception in 2017. Funding has been provided to companies in industry sectors such as medical/health, biotechnology, nanotechnology, agriculture, clean-energy, electronics, to name a few.
Several examples of previous prototype projects that have been funded include: a smart insole with a proprietary embedded graphene sensing system, a smart tabletop micro-greenhouse, a sensor for accurate sensing of airborne particles, and a portable electric vehicle charging station. You can view all of the prior awardees at https://fuzehub.com/commercialization-competition/.
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