What is NEXUS-NY?
NEXUS-NY is a clean energy Proof-of-Concept Center (POCC). We accelerate start-up companies that are formed around high impact technologies emanating from NY research universities and the general community. NEXUS-NY brings industry and investor expertise to research-derived innovations which are advanced through a structured commercialization methodology.
Who can participate?
The program is open to individuals who have conducted basic research related to reducing emissions, improving energy efficiency, or generating renewable energy. Typical participants are university researchers who are looking for the opportunity to accelerate the commercialization of their technology by starting a business. They are looking to solve problems for real customers, and recognize the need to demonstrate their technology through proof-of-concept prototypes and customer interaction. Approximately ten teams are selected from a competitive application process that begins in the fall of each year.
How does it work?
The program is mentor-driven, forces early customer interaction and feedback, and utilizes structured processes to quickly test market opportunities and make “pivots” when necessary. NEXUS-NY identifies and engages clean energy startup opportunities each year with the goal of having 4-5 of them receive investments, grants, partner arrangements, and/or revenues following graduation.
NEXUS-NY is a 9 month program that assists participants in answering four fundamental questions:
- Is there a clear and compelling market need?
- Is there a unique value proposition?
- Can the technology be shown to work at a relevant scale?
- Can a potential customer or industrial partner validate that the technology works in a relevant environment?
By the numbers
- 14 startup companies formed
- 3 Companies achieved 1stsale
- $3.285 M in follow on funding by 8 graduates