Lumedica Vision Awarded $250K in 2019 Luminate Accelerator Program
ROCHESTER, NEW YORK — The Upstate New York economic development program, “Luminate,” which helps incubate and invest in optical technology startups, awarded Lumedica Vision third place in its 2019 competition, which includes a $250,000 funding offer. The ceremony marked the end of an intense six-month business development program in which the Luminate/NextCorp team provided hands-on guidance for ten competing startups. Of the four companies awarded funds, Lumedica Vision was the only company based outside of New York to win an award. The Luminate program delivered invaluable business guidance in a range of critical areas, including commercialization and manufacturing, pricing, distribution and valuable connections to the optical investment community.
“We’re so grateful,” said key participant and Lumedica Vision CEO Geoffrey Metcalf. “This has been an incredible journey. It’s been an honor to be among the ten companies enrolled in this program. We’ve all learned so much, not just from the Luminate mentors, but also from each other. It’s amazing to see how much we’ve all grown as a result of this process. We hope to continue to be a part of Rochester’s re-vitalized optical technology community.”
Said Founder and Chief Science Officer, Dr. Adam Wax, “We’re honored, excited and so grateful to have been invited to participate in this program. We learned a tremendous amount and this award helps us move closer to achieving our mission of detecting and preventing blindness around the world.”
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About Lumedica Vision
Lumedica Vision creates affordable light-based scientific medical instruments that deliver accurate diagnostic results.
Leveraging off-the-shelf and custom imaging components, Lumedica Vision is able to make diagnostic devices cheaper, more durable, and easier to distribute. Our first initiative is building a novel, patented device to administer OCT (Optical Coherence Tomography) technology — the gold standard for retinal imaging — to detect chronic, asymptomatic eye diseases. A division of Lumedica, the company was founded in 2014 based on research conducted at Duke University’s BIOS Laboratory. Other technologies and innovations are in the development pipeline.
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