Via New York State
Governor Kathy Hochul today announced PreAct Technologies as the winner of Round 4 of the Luminate NY optics, photonics, and imaging startup accelerator competition. The Portland, Oregon-based PreAct Technologies received the “Company of the Year” award at Luminate Finals 2021, which was held virtually and sponsored by Optica, formerly The Optical Society. The company will receive $1 million in investment from New York State through the Finger Lakes Forward Upstate Revitalization Initiative. As required by the award, all winners of the competition will commit to establishing operations in Rochester for at least the next 18 months. PreAct Technologies plans to establish manufacturing in New York State.
Luminate NY, which is administered by NextCorps, is the world’s largest business accelerator for emerging companies that have optics, photonics, and imaging (OPI) enabled technologies.
“Luminate NY’s investments reflect our commitment to retaining New York’s distinction as a worldwide leader in optics, photonics, and imaging,” Governor Hochul said. “Our state is a national leader in the nation for commercializing intellectual property in OPI, and these winning companies will further contribute to the growth of the Finger Lakes’ OPI industry and move the region’s economy forward.”
PreAct Technologies aims to bridge the gap between collision avoidance systems and active safety technology. Its TrueSense sensors make it possible to angle car seats away, deploy airbags earlier, and raise the car suspension just before a crash occurs to vastly reduce injuries and deaths. The system will also quickly replace all short-range sensors like radar, ultrasound, and cameras — a $30 billion/year market — used for ADAS, self-driving, and convenience features.
