ALBANY, N.Y. — Companies from East Syracuse, Ithaca, Binghamton, and Geneva are among 12 finalists for the FuzeHub commercialization competition at the upcoming New York State Innovation Summit.
FuzeHub selected finalists for the seventh annual competition, which is set for Oct. 16-17 at the Saratoga Springs City Center. Albany–based nonprofit FuzeHub supports small and medium-sized manufacturing companies in New York state.
The competition happens yearly as part of the Empire State Development (ESD)-supported FuzeHub Jeff Lawrence Innovation Fund.
A dozen entrepreneurs from across the state will pitch before a panel of judges and a live audience for the chance to win $50,000, and one company will receive the $150,000 grand award.
During the Summit, finalists will demonstrate the commercialization potential of their product or technology and compete against each other for one out of seven awards. Those securing funding awards must use them to improve an existing prototype, enabling the company to “pursue additional investments and customers, and leading to the commercialization of their product,” FuzeHub said.
“The Commercialization Competition speaks to the core mission of FuzeHub,”Elena Garuc, executive director of FuzeHub, said in a news release. “We love to work with startups, and the Competition brings a lot of enthusiasm to the Summit. These companies have worked hard to get here, so I would also like to acknowledge their path thus far and wish them all good luck during their pitches.”
FuzeHub provided brief descriptions of the finalists and the product they’re working to commercialize. They include the following:
- DUB Biologics Inc. of East Syracuse is developing a therapeutic that helps reduce fibrosis, which is also known as scarring. “Tissue function is impaired by scarring. For example, scars in the eye contribute to vision loss. Their therapeutic aims to return function to functional tissues,” per the FuzeHub release.
- ExoPower Inc. of Ithaca will demonstrate its in-motion wireless charging system, which allows mobile robots to continuously charge as they move and work, eliminating downtime for battery charging.
- Ionic Solutions of Binghamton has a water desalination treatment system, which “replaces costly reverse osmosis equipment, producing more useful water, less waste, and using less power than any existing technology on the market.”
- Ashlawn Energy of Binghamton will demonstrate its VanCharg, a rechargeable-battery system that stores power off-peak and uses power at peak times, “reducing energy consumption during peak periods.”
- Stilbene Inc. of Geneva will demonstrate GR8PE, a dietary supplement for gut health using upcycled food ingredients from grape juicing waste. It works by “repairing damaged gut lining in an all-natural way, leading to better nutrient absorption and better overall health,” according to the release.