Cornell Tech, Google, and Tech: NYC are launching a startup competition for NYC-based companies.
Google For Startups created the “NYC Recovery Challenge” that can help fund rising startup businesses. The competition was created from the influence of the impact of COVID-19 for New Yorkers. The contest stated that they are looking for up-and-coming New York tech companies with the potential to impact the economic reactivation of the city. The Recovery Challenge team is giving entrepreneurs a chance to win $100,000 in cash for their startups and other business opportunities. The team is looking for businesses in the NYC area that demonstrate potential and impact New York City’s economic recovery. The company also must have raised less than five million dollars along with other requirements.
The committee will choose ten finalists. The finalists will receive mentorship, guidance as well as other benefits from the partners. In addition, the top three finalists will receive cash awards and will be recognized as “NYC Recovery Fellows. “ The first-place winner will receive $100,000, and the two runners up will receive $25,000.
Michael Samuelian, founding director of the Jacobs Urban Tech Hub, released a statement about the inaugural competition, “The pandemic has given us a once in a lifetime opportunity to reimagine how our city works. Cornell Tech’s mission is to build a deep bench of NYC-based tech talent. Today we are calling on our homegrown innovators to demonstrate the resilience and ingenuity of New Yorkers, break some eggs, and tell us how to make their block, borough, and city better through tech”.
The competition process will start with the sponsors organizing a committee to select the applicants. Then, the sponsors will initiate a selection process to choose finalists and awards recipients. The selection criteria include the potential number of positions to be created, the diversity of jobs made, and the company’s overall proposal.
Applications for the competition will close on Oct. 29 at 11:59 p.m. On Nov. 29, the winners will be announced. You can sign up here.