QART Medical is honored to be accepted to Luminate, the Nextcorps accelerator for startups whose core technology is enabled by optics, photonics, and imaging.
QART is one of ten companies chosen by a panel of industry leaders to be part of the 6th Luminate cohort out of 120 applicants. The accelerator is meant for companies with proven technologies and acts as a hub for mentorship, physical facilities, relationships with investors, and tools to move forward towards meeting commercialization and marketing milestones.
Upon acceptance, QART was awarded an immediate initial investment of $100,000 and will be eligible to compete for up to an additional $2 million in follow-up funding.
Participation in the Luminate accelerator facilitates direct interaction with key members of the Rochester photonics cluster – a global hub of photonics & optics R&D and manufacturing expertise. QART’s management team plans to be involved both in the remote and in the in-person activities of the Luminate framework.
From Luminate: “Since its inception, Luminate has invested $15 million in 53 startups. The companies in the portfolio have raised an additional $194.7 million and now share a net worth of $645.7 million. Many of the companies are establishing U.S. operations or some aspect of research and manufacturing in the Rochester region—which continues to be the epicenter of the OPI industry in North America. This has resulted in the creation of 160 new jobs in the region.”