Cornell Tech today announced the newest cohort of 13 startup companies that will enter its established Runway incubator program this September. The program is run by the Jacobs Technion-Cornell Institute on the Cornell Tech campus and will welcome its largest cohort since the annual program began in 2014.
The 13 teams include eight Ph.D. founders, selected from 358 applications received this year for the Runway Startup Postdoc Program, and five “Spinout” teams, which are made up of 2024 Cornell Tech graduates who each won a $100,000 Start-Up Award at the conclusion of the 2023-2024 academic year.
Founders who participate in the program come from academic backgrounds and are focused on accelerating their young companies under the guidance of Cornell Tech faculty and advisors. To date, the program has launched more than 100 startups, including baby sleep monitor Nanit, real estate construction intelligence platform OnsiteIQ and infectious disease diagnostic Biotia. In total, the companies launched from the Runway Startups program have a valuation of more than $660 million and have created more than 500 new jobs in New York City.
Runway participants come to the Institute with early stage ideas and potential markets for their product(s). To help launch their startups and propel them into careers in the tech industry, they receive a package valued up to $325,000 for two years that includes a salary, a research budget, workspace on campus, and IP registration and use, as well as mentorship from academic and business experts in fields ranging from connective media, health technology, security and privacy, and computer vision.
“Runway is a proven catalyst for New York’s tech ecosystem. It creates entrepreneurship opportunities beyond those traditionally offered at universities and helps founders address the roots of real world issues and tackle them head on,” said Fernando Gómez-Baquero, Director of the Runway Startup Postdoc and the Spinout Programs at Cornell Tech. “The proposals from this year’s cohort have the potential to join alumni companies as they grow into fully realized startups, driving economic development, job growth, and New York’s leadership in innovation for years to come.”
Full story: Cornell Tech – Cornell Tech Announces Largest Cohort to Date of New Startups on Campus for Fall 2024
