Genius NY, a drone-focused business accelerator with nearly $3 million to invest, is looking for its second-round of startups to fund.
The accelerator is accepting applications between now and Oct. 1, and it will choose six startups to invest in.
This year, Genius NY is especially focused on investing in women-owned drone startups.
“Last year, out of the 250 applications, only two were women-owned businesses,” said Director of Genius NY Jon Parry. “We felt like it wasn’t a problem in the selection process — it was in the application process. We would love to have diversity on our teams.”
Women have historically been absent from executive teams at the major drone companies — and that could be a problem. Consumers have complained that FPV goggles are too big and slide off their heads — likely because smaller people haven’t been involved in the design process. Many drone companies have assumed women wouldn’t be interested in their products and ignored them in their marketing efforts, leading to a major loss in potential sales.
Women account for $4.3 trillion of total U.S. consumer spending of $5.9 trillion, according to The Atlantic, making women the largest single economic force not just in the United States, but in the world.
And Genius NY hopes their investments will pay off.
The accelerator is looking to invest in either hardware or software startups, but Parry predicts that software is the future. Continue reading Drone accelerator Genius NY looking to invest in drone startups