Startups From Around the World Are Encouraged to Apply for Round Seven if Their Technology Leverages Optics, Photonics, or Imaging OPI Accelerator Competition is Supported Through “Finger Lakes Forward” – The Region’s Comprehensive Strategy to Revitalize Communities and Grow the Economy Empire State Development (ESD) today announced that Luminate NY—the world’s largest business accelerator for startup companies that have optics, photonics, and imaging (OPI) enabled technologies—is now accepting applications for its seventh cohort. Each year, the accelerator brings ten visionary companies to the Finger Lakes Region to leverage a rich ecosystem of resources to speed the commercialization of emerging technologies within a range of industries, such as autonomous vehicles, quantum computing, communications, advanced manufacturing, robotics, and augmented reality. “The 64 companies currently in Luminate NY’s portfolio are speeding the commercialization of industry-changing technologies and businesses by leveraging the rich resources that help make New York State the OPI capital of the world,” said Empire State Development President, CEO and Commissioner Hope Knight. “We encourage startups to join this diverse group of fast-growing companies—now valued at more than $650 million—by applying to the Luminate accelerator to take advantage of all that New York has to offer.”  The companies selected to take part in round seven of Luminate NY will compete for one of 10 available slots and will each receive $100,000 upon acceptance. At the completion of the program, the teams will compete for a total of $2 million in follow-on funding, including a $1 million investment to the winning team and other investments totaling an additional $1 million. Teams winning follow-on funding must commit to doing some aspect of their business operations or manufacturing in the region for at least 18 months. Applicants for Luminate NY must be incorporated, have at least two full-time employees, and should have proven their core technology, preferably having developed a working prototype. Once admitted, companies will receive assistance, including capital, access to comprehensive lab facilities for technology development, education, and business mentoring. Applications will be accepted now through January 8, 2024. Dr. Sujatha Ramanujan, Managing Director, Luminate NY said, “Luminate is proven to accelerate the trajectory of early-stage companies by providing founders with the mentorship, curriculum, and vetted vendors they need to de-risk both their businesses and technology development.  We encourage founders located everywhere to sign up for one of our informational sessions to learn more about the many ways we can help startups tackle challenges and move forward.” Luminate NY is funded by the transformative Finger Lakes Forward Upstate Revitalization Initiative, a comprehensive strategy to foster economic development and revitalize communities, and is administered by NextCorps. Located in Rochester, NY, the Luminate accelerator provides immediate funding paired with a six-month hybrid mentoring program to help new companies scale both their businesses and technologies. Program participation includes both virtual and in-person events. The start of recruitment period comes just weeks before Luminate NY’s sixth cohort of companies competes for $2 million in follow-on funding during Luminate Finals 2023 on September 27, 2023. For the third year in a row, Optica is sponsoring finals, which will take place online via Zoom and in person at The Theatre at Innovation Square in Rochester, NY, at 11:30 a.m. EDT. Attendees can register for the free event here. In addition to seeing the teams compete for funding, the public will vote for their favorite startup, which will be awarded $10,000 as part of the annual New York State competition. The Finger Lakes Region is home to an incredibly rich ecosystem for forward-thinking entrepreneurs who are looking to grow their business. Rochester offers the American Institute for Manufacturing Integrated Photonics’ Test, Assembly, and Packaging facility at Eastman Business Park, the University of Rochester’s Institute of Optics, the Rochester Institute of Technology, and more than 150 local OPI companies which employ more than 17,000 employees who are building on the region’s legacy as a global imaging leader. State Senator Jeremy Cooney said, “Luminate NY is the future of startup companies across the Greater Rochester and Finger Lakes region. Their innovative approach to optics, photonics and imaging industries is helping to lay the foundation for new businesses to thrive in their early stages, stimulating New York’s economy for years to come. I support and encourage anyone embarking on a business venture to apply to this program and be a part of Rochester’s flourishing OPI industry.” Assemblymember Harry Bronson said, “The Luminate NY Accelerator Program attracts the most dynamic light technology startups from across the globe; shining a spotlight on our community as a hub for innovation and entrepreneurship. This year’s finalists represent another round of innovations that will advance our optics, photonics and imaging industries. Their ingenuity and creativity will continue to bring job opportunities and investments to our region. We must meet their vision and successes with equitable workforce development programs that not only support emerging and expanding industries, but also provide career pathways for all members of our community.” Monroe County Executive Adam Bello said, “Monroe County and the Finger Lakes Region is fast becoming a national leader in the high-tech optics, photonics and imaging industries, thanks in part to the Luminate NY business competition providing critical early support for entrepreneurs.  Round 7 of this competition will continue to jumpstart the businesses of tomorrow and position our community as a global leader in the light-based products and services sector.  Thank you to Gov. Kathy Hochul, Finger Lakes Forward and Empire State Development for continuing these key investments that boost our local economy.” Rochester Mayor Malik Evans said, "Rochester has some of the most innovative, inventive and generous minds focused on optics, photonics and imaging collected in one community. The wealth of wisdom and support here in Rochester offers unparalleled opportunities for early-stage companies to take their ideas to the next level." For additional information about Luminate NY, visit: https://luminate.org/. To register for an informational session about Luminate NY, visit: Information Sessions. For additional information about NextCorps, visit: https://nextcorps.org/. Accelerating Finger Lakes Forward  Today’s announcement complements “Finger Lakes Forward,” the region’s comprehensive strategy to generate robust economic growth and community development. The regionally designed plan focuses on investing in key industries including photonics, agriculture‎ and food production, and advanced manufacturing. More information is available here. ​ About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of ““I LOVE NY", the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Shari Voorhees-Vincent | [email protected] | (585) 399-7055 Press Office | [email protected] | (800) 260-7313 Shannon Wojcik | Luminate | [email protected] | (585) 831-6267

Industrial Furnace Supplier Will Be Adding 40 New Jobs with New Tonawanda Facility View Photographs of the Expansion Project Here Empire State Development (ESD) today announced the expansion of Retech Systems LLC, which makes high-tech titanium melting furnaces for contractors in the aerospace, defense, and medical industries. The company, which has been in operation for more than a half of a century, has outgrown its current headquarters on Northland Avenue in Buffalo. To accommodate the growth, it will lease additional space at 175 Milens Road in the Town of Tonawanda to expand manufacturing capabilities and warehouse the current inventory. “Retech’s expansion marks yet another significant boost for the Western New York economy and further evidence that the manufacturing resurgence in the region is real,” said Empire State Development President, CEO & Commissioner Hope Knight. “Through the investment and leadership of Governor Hochul, a company is rising up and realizing its full potential, while also creating the jobs of the future in the manufacturing sector.” To facilitate the company’s expansion, ESD is offering up to $500,000 through the Excelsior Jobs Program in exchange for job commitments. State support for the project requires the creation of 40 new full-time jobs by 2033 and the retention of 48 jobs in Western New York. The project will cost approximately $10 million in total. It includes installing a large industrial melting furnace at the Northland location; installation of potentially two additional furnaces; new electrical, piping, and cranes; updating office spaces; and moving equipment  to the new Tonawanda location.  Retech’s industrial furnaces vary in size, with some measuring roughly half a football field in length and up to four stories high.  Of course, the furnaces being installed at Northland and Milens will be smaller versions.  The project is expected to be completed in stages with the last work likely being finished in the early 2025 timeframe. Retech Managing Director and President Earl Good said, “Retech is excited to be expanding further in the Buffalo area by moving into the building at 175 Milens Road.  The new space is necessary to meet our manufacturing needs and allow the continued development of new technologies – both for Retech and our customers.  We have been happy with the support we have received in the Buffalo area so far, and we look forward to being part of the local community for a long time.” Retech moved its headquarters from California to Western New York in 2018 to have access to Buffalo’s larger talent pool, particularly the graduates of local engineering programs. The company is also now closer to many of its customers and vendors, and Retech has taken advantage of the opportunity to develop new suppliers in the surrounding areas, which is resulting in the company’s exponential growth. The Town of Tonawanda building is being leased from Uniland Development. "We are excited to extend a warm welcome to Retech, as they join our vibrant industrial community within this prime building,” highlighted Uniland CEO Michael Montante. “Together, we embark on a journey of innovation and collaboration for this global industrial machinery manufacturer here in Western New York." For more information about Retech Systems LLC, please visit: https://www.retechsystemsllc.com/ Senator Tim Kennedy said, “Retech's expansion is reflective not only of its innovative presence within the manufacturing industry, but of its commitment to our region's economy and our local workforce. By growing its operations and its employee base, Retech is actively creating opportunities in Western New York, and I applaud their forward-thinking vision and investment in our greater community." Senator Sean Ryan said, “I'm thrilled to see the Excelsior Jobs Program helping a local employer create new manufacturing jobs. I commend Retech for recognizing Western New York's potential back when they moved their headquarters to Buffalo, and I thank them for this additional commitment to our region. It's great news for the Town of Tonawanda and great news for our local economy." Assembly Majority Leader Crystal Peoples-Stokes said, “I applaud Retech Systems LLC on it decision to expand, as well as a thank you for expanding right here in WNY. Businesses’ abilities to sustain operations has been impacted by inflation, supply chain issues, and other unforeseen impediments. Growth is a true testament to Retech Systems’ leadership and the support provided by Governor Hochul, Empire State Development (ESD) President & CEO Hope Knight, and ESD’s staff. Congratulations.” Assembly Member William Conrad said, "Western New York is proud to be a manufacturing hub, and our State is equally proud to support this region's tech development and the workforce needed to move manufacturing forward here for generations to come. I congratulate Retech on its expansion into the Town of Tonawanda, ensuring its place of prominence as a supplier to some of today's fastest growing fields, including aerospace engineering and medicine, and I am thankful for Empire State Development's continued investment in the companies of WNY, and in the creation and retention of jobs across our community." Erie County Executive Mark Poloncarz said, “The expansion of Retech Systems, LLC is yet another example of Erie County’s booming economy. Businesses outgrowing their space is a ‘good problem’ to have and shows the tremendous turnaround Erie County and our region have experienced in the last ten to fifteen years. I thank Empire State Development and all of our partners who continue to boost our strong manufacturing base, which provide good paying jobs and ladders of economic opportunity.” City of Buffalo Mayor Byron W. Brown said, “It's always exciting when a local business undergoes an expansion. Retech System, LLC has demonstrated a significant commitment to manufacturing in our region. I thank Governor Kathy Hochul for her support of the local workforce, through the Excelsior Jobs Program dozens of jobs will be created through Retech’s expansion.” Town of Tonawanda Supervisor Joseph Emminger said, “Retech is joining a long list of industrial leaders that have chosen Tonawanda to be their home in WNY over the past 100-years.  We welcome them and are very grateful to their leadership team and to Governor Hochul for bringing these well-paying jobs into our community!” About Empire State Development Empire State Development (ESD) is New York’s chief economic development agency (www.esd.ny.gov). The mission of ESD is to promote a vigorous and growing economy, encourage the creation of new job and economic opportunities, increase revenues to the State and its municipalities, and achieve stable and diversified local economies. Through the use of loans, grants, tax credits and other forms of financial assistance, ESD strives to enhance private business investment and growth to spur job creation and support prosperous communities across New York State. ESD is also the primary administrative agency overseeing the Regional Economic Development Councils and the marketing of “I LOVE NEW YORK,” the State’s iconic tourism brand. For more information on Regional Councils and Empire State Development, visit www.regionalcouncils.ny.gov and www.esd.ny.gov. Contact: Pamm Lent | [email protected] | (716) 846-8309 | (716) 560-8815 Laura Magee | [email protected] | (716) 846-8239 | (716) 374-4246 

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