Unibaio Triumphs at Grow-NY with $1 Million Prize

Deal News | Nov 07, 2024 | New York Ventures Inc

Unibaio Triumphs at Grow-NY with $1 Million Prize

Empire State Development has recognized Unibaio as the grand-prize winner of the sixth annual Grow-NY business competition, an initiative aimed at nurturing innovation in food, beverage, and agriculture sectors within Central New York, Finger Lakes, and the Southern Tier. The competition, which disbursed a total of $3 million, awarded Unibaio with $1 million. Their innovative solution involves naturally derived particles for efficient absorption of pesticides and fertilizers. Run by Cornell University's Center for Regional Economic Advancement, the Grow-NY competition serves to build entrepreneurial ecosystems and stimulate economic growth in New York State's rich agricultural areas. Other winners include PureNanoTech and UdderWays, both awarded $500,000 for their impactful solutions, among others receiving $250,000. The event emphasizes fostering job growth with regional economic strategies like CNY Rising, Finger Lakes Forward, and Southern Tier Soaring. Grow-NY aims to solidify New York's position as an agricultural innovation leader by driving job creation, regional partnerships, and economic development.

Sectors

  • Agriculture
  • Food & Beverage
  • Technology & Innovation
  • Economic Development

Geography

  • United States – The Grow-NY competition is held within New York State and aims to impact the regional economy in various areas across the state.
  • New York – Specifically focused on areas like Central New York, Finger Lakes, and Southern Tier with implications for economic growth and innovation in these regions.

Industry

  • Agriculture – The competition focuses on innovation in the food and agriculture sectors, aiming to strengthen them in the Central New York region.
  • Food & Beverage – Participants in the competition are startups in the global food and beverage market, showcasing new technologies and solutions.
  • Technology & Innovation – Many entrants, including Unibaio, are involved in creating innovative solutions like enhanced agricultural practices through technology like AI and nanotechnology.
  • Economic Development – Empire State Development and regional economic councils are deeply involved in driving growth and job creation through these initiatives, linking back to state and regional development strategies.

Financials

  • $3,000,000 – Total prize money awarded in the Grow-NY competition.
  • $1,000,000 – Grand prize awarded to Unibaio.
  • $500,000 – Prize awarded to both PureNanoTech and UdderWays.
  • $250,000 – Prize awarded to Clean Crop Technologies, ClearLeaf, For Bitter For Worse, and Zordi.

Participants

NameRoleTypeDescription
UnibaioTarget companyCompanyWinner of the $1 million grand prize, focused on agricultural technology solutions.
Empire State DevelopmentOrganizerGovernmentNew York's chief economic development agency overseeing the event.
Cornell University's Center for Regional Economic AdvancementOrganizerInstitutionManaged the competition, supporting business development and regional economic growth.
PureNanoTechOther CompanyCompanyWinner of $500,000 with a solution for nanobubble irrigation.
UdderWaysOther CompanyCompanyWinner of $500,000 with their vortex-style application for dairy farmers.
Clean Crop TechnologiesOther CompanyCompanyWinner of $250,000 for improving food safety and yields with their technology.
ClearLeafOther CompanyCompanyWinner of $250,000 for environmentally safe fungicide solutions.
For Bitter For WorseOther CompanyCompanyWinner of $250,000, known for their non-alcoholic beverages.
ZordiOther CompanyCompanyWinner of $250,000 for their autonomous greenhouse technology.
Empire State DevelopmentSellerGovernmentNew York's main economic development agency providing organizational backing for the Grow-NY competition.
WegmansSponsorCompanySponsored the Audience Choice award.