PhotonDelta and Luminate NY collaboration to foster photonic startup innovation
- PhotonDelta and Lumniate partnership will support early-stage photonics companies across North America and the Netherlands.
- Photonics industry to grow to $10.3 billion by 2029.
- The two companies will focus on identifying trends and new companies that show potential.
- Both companies bring a strong depth of resources.
PhotonDelta, a Netherlands-based accelerator for photonic chip development, and Luminate NY, an accelerator for startups with optics, photonics, and imaging-enabled technologies, have entered into a strategic collaboration to support the growth of early-stage photonics companies across North America and the Netherlands.
Through this partnership, the two companies will focus on strengthening international innovation, expanding access to resources, and providing enhanced support for startups aiming to commercialize photonics technologies.
Startups that are part of the PhotonDelta or Luminate programs can get access to the benefits of each other's accelerator programs. This will enable photonics startups to leverage these ecosystems and relationships, accelerating innovation and scaling into the global market.
The connections and collaboration between the two companies come at a time when the global integrated photonics industry is set to accelerate.
According to a recent Yole Group report, the global integrated photonics industry is expected to grow with a CAGR of 45% to $10.3 billion by 2029.
U.S., European market access
As a collaborative effort, PhotonDelta and Luminate will work together to identify and vet candidates for participation in their programs and accelerator cycles. Additionally, the two companies will introduce startups to their extensive networks of industry experts, investors, mentors, and production facilities, while providing soft-landing services as they establish a presence in both the U.S. and the Netherlands. This will offer startups access to the U.S. and European markets.
The Memorandum of Understanding with Luminate also underscores the importance of strategic collaboration between the Netherlands and New York State in the fields of semiconductors and integrated photonics. Earlier this month, a New York State delegation comprising government officials and industry experts visited the Netherlands to strengthen connections and share knowledge. The trip was supported by the Dutch Ministry of Foreign Affairs and the Ministry of Economic Affairs.
The two companies will engage in various activities, including joint programming, beginning with a series of planned investor summits, pitch events, and webinars.
Some of the activities will include the Luminate 5x5 Pitches in August, the Luminate Investor Summit in New York City on September 12th, the Luminate Finals on October 22nd, and the PIC Summit Europe event in Eindhoven, the Netherlands, on November 4th and 5th.
Every quarter, the leaders of the two companies meet to discuss insights on photonics developments and identify startups with strong potential for acceleration, funding, or market entry. They also develop new initiatives, such as the Global Photonics Engineering Contest, which recently concluded with 33 submissions from all over the world.
Deep connections
Luminate and PhotonDelta bring deep experience and connections within the photonic industry.
Luminate, which is created and administered by the non-profit NextCorps and funded by Empire State Development, accepts 10-12 companies from around the world annually into its cohort-based program.
The company’s accelerator program now has more than 80 companies in its portfolio, representing a diverse range of industries, including AR/VR, quantum computing, semiconductors, materials and metrology, autonomous vehicles, healthcare, and clean energy. Combined, these companies collectively have an estimated value of more than $700 million. Luminate is also a member of the NY Photonics cluster in a region that is home to over 150 optics companies.
Likewise, PhotonDelta’s ecosystem is equally impressive, comprising 75 different organizations that form a complete value chain, including design services, multiple foundries for photonic chip fabrication, packaging, assembly, and testing, as well as an increasing number of fabless companies that utilize PIC technology.
PhotonDelta has secured €1.1 billion to accelerate the development of this next-generation semiconductor technology by running R&D programs, leading international road mapping activities, and investing in pioneering startups that apply integrated photonics technology.
Leaders of the companies said that the partnership will accelerate the development of new photonic innovations.
“This partnership will give startups access to a more powerful, connected support network in the USA and the Netherlands,” said Eelko Brinkhoff, CEO at PhotonDelta. “By combining our two ecosystems, we can fast-track innovation, investment, and access to new markets, empowering a new generation of photonics pioneers.”
Sujatha Ramanujan, Managing Director and Chief Investment Officer of Luminate NY, agreed: “Working with PhotonDelta allows us to combine strengths, support cross-border growth, and accelerate the development of breakthrough technologies.”
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Sean Buckley
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