By Kate Bartlett
Founded in 2014, 43North is a government funded non-profit organization that invests $5 million each year in companies that relocate to Buffalo through their immersive accelerator program. Their annual interactive awards production was held at Sheas Theatre in Downtown Buffalo this past Thursday, October 10, selecting this year’s five start-up companies.
43North, named for Buffalo’s latitude, was started by Jordan Levy as a way to invest in the city by fostering startups in the community. His vision was to create a business plan competition to award selected startups funding and resources to launch their company here in Buffalo. He recognized the need for change and with a deep love for his city, he was inspired to take action to transform Buffalo back into a hub of innovation and opportunity.
For more information, visit 43North.org, follow on social media and email for more information.
Caption; 2024 43North Winners celebrate victory on stage at Sheas. Pictured: (in order left to right) Burak Aksar, Spiky.AI; Richard Chan, CoverRight; Daphne Pariser, HeronAI; Jeffrey Dietrich, Rarebird; Sharon Cryan, FoodNerd.
Thanks to 43North, Buffalo’s startup ecosystem is thriving. “It’s strategic location, infrastructure and workforce make it a place where startups can truly make an impact. With the support of more than 20 entrepreneurship programs, including incubators, accelerators and economic development organizations, the startup business industry in Buffalo is stronger than ever.
Since its inception, the process has changed drastically, but the vision remains the same: to make Buffalo a place the world’s most innovative startups want to call home. “Our program has evolved significantly over the past ten years,” said Christian Gaddis, Director of Recruitment Marketing for 43North. “In our first year, the entire Finals show fit on the stage at Shea’s Theatre. Now, the production is on a much larger scale, and the competition to make it to the stage is tougher than ever.”
Companies from all over the globe apply in May, with nearly 1,000 this year alone. There is no limitation on location and it is industry non-specific. “We’ve had companies from Canada, the United Kingdom, and all over the United States with businesses ranging from FinTech to SaaS to quantum computing to physical products. Each business is scored by a panel of industry experts and venture capitalists. Finalists are selected and move on to a semi-final competition of 15 businesses held on Wednesday, October 9th, from which 8 move forward to the final competition on Thursday, October 10th.
During the awards presentation, each business presents their idea in front of a live audience, along with a panel of judges. “We love having a live awards ceremony, and we try to make it as fun and interactive as possible. Not only is it a great networking opportunity, but it is inspirational and shows the businesses the excitement and energy here in our Queen City.” The crowd is given the chance to vote, by cheering, for their favorite business, from which a $25K Peoples’ Choice award is chosen. “This adds an element of excitement and gives the people a chance to voice their opinions.”
Each of the 5 businesses selected receives $1 million dollars, as well as valuable resources to help their business scale and grow. In return, the selected businesses sign-on to operate their business here in Buffalo for one calendar year, starting in January. Each company is provided office space in Seneca One Tower, access to 43North’s investor network, mentorship and other resources. 43North offers quality-of-life programming designed to enhance the experience for founders and employees relocating to Buffalo, making the city an attractive place to live and work. The program focuses on building community connections, promoting well-being, and providing resources that help companies and their teams thrive both personally and professionally. Activities range from ski days at HoliMont in the winter to progressive dinners at local restaurants, and opportunities to enjoy Lake Erie during the summer.
In addition, 43North provides community engagement initiatives that connect local residents with founders and companies through panel discussions, networking events, and career fairs.
To date, 43North has 74 portfolio companies, with a wide variety of businesses, including ACV Auctions, which currently employs more than 600 people locally and 2000 internationally, and Top Seedz Crackers, which recently opened a manufacturing facility in downtown Buffalo massively increasing their production.
This year’s five winners of a $1 million investment from the 43North finals competition were: FoodNerd (one of the competition’s three semifinalists from Buffalo), HeronAI (Cambridge, MA),