Germinator Awards $100K to Euphony

For Immediate Release Contact: Elle Hanna
December 14, 2016

315.470.1800
ehanna@centerstateceo.com

Germinator Awards $100K to Euphony
Two-year business competition finishes with more than $600K awarded to six teams

Syracuse – CenterState CEO today awarded $100,000 to Euphony during its final phase of the Germinator program. The competition’s two remaining teams, Euphony and Life Source Health pitched for the top prize before a panel of judges during the final demo day at The Tech Garden.

“The $100,000 prize is a significant investment in an emerging company especially when it is combined with the $150,000 investments the team has received over the past 18-months of the program,” said Robert M. Simpson, president of CenterState CEO. “We are excited to award them this prize as we know this company will return our investment through its contribution to the region’s economy.”
The startup competition began with six teams in early 2015. It has awarded $600,000 in total investment during four “Greenhouses,” demo days that took place every couple of months. Additionally, as companies go through the competition they also receive access to the resources and experiences they need to grow, including marketing, intellectual property, sales, financing, and fundraising support and the potential for follow-on investments.
Euphony's text-to-speech solutions allow people with speech communication disorders to express emotions through speech. Already validated in a National Science Foundation project, EuphoniumTTS supplies novel, expressive computer voices in a ground-breaking speech therapy app. The founder and CEO of Euphony is Fuz Eller.
Germinator is made possible through lead sponsors National Grid, M&T Bank, CenterState CEO and five private sector sponsors who have demonstrated their leadership in supporting local entrepreneurs and regional economic development efforts.

“Congratulations to each of this year’s finalists,” said Brian Anderson, National Grid Lead Economic Development Representative. “National Grid is honored to be a part of the Germinator program and to support programs that promote business growth in Central New York. We recognize the region’s growing entrepreneurial ecosystem and the role The Tech Garden plays to help build partnerships, generate new jobs, and investment in the region.”
“The local business community is committed to helping these companies grow,” said Allen J. Naples, CNY regional president of M&T Bank. “These startup companies are developing some incredibly innovative products and we are proud to support this region’s entrepreneurs.”
The Germinator programs success has become a model for entrepreneurial support in the region. CenterState CEO’s latest business competition and accelerator, GENIUS NY, follows as
similar format as Germinator but focuses on unmanned systems. It will award up to $2.75 million during the program which starts in January 2017. To learn more about GENIUS NY visit http://www.geniusny.com/.

The Germinator Competition Finalists:

Euphony: The company is developing text-to-speech solutions to allow people with speechcommunication disorders to express thoughts and emotions through speech.
LifeSource Health: The company developed cutting edge software solutions for emergency medical professionals and first responders. They are particularly focused on applications for pre-hospital and emergency medicine.
The Germinator Competition Participating Teams:
Trainer Engine: The company provides a low cost virtual coaching solution to gyms and trainers. Gyms and trainers appeal to a broader set of clients by providing a service that more of them can afford. In turn, gyms and trainers will dramatically increase their closing ratio.
Volu: The company has developed volunteer management software for nonprofit organizations and volunteers. Volu’s mission is to use technology to advance the relationships between nonprofit organizations and the communities that they serve.
Voss Vertical: The company’s core technology is an aircraft-integrated flight system that dramatically improves Vertical Takeoff and Landing (VTOL) performance and safety for aircraft ranging from small drones to manned vehicles.
Sarita’s: The company is an independent food processor producing quick frozen, handmade empanadas for retail sale. They take this Hispanic appetizer and pair it with familiar American flavors, keeping the aspect of a traditional empanada and giving it a modern twist.

The Germinator Competition Sponsors:

Lead Sponsors
National Grid
M&T Bank
CenterState CEO

Gold Sponsors
CPS Recruitment, Inc.
Hancock Estabrook LLP
TERACAI
Fust Charles Chambers LLP
Pathfinder Bank