
Buffalo Puts $5 Million Up For Businesses To Grab In New York
If you ask people from outside the area about Buffalo, most will say things about wings, the weather, or the Bills, but they are likely not to think of Buffalo as a hotbed of business activity. However, that is exactly what we have here in the 716, as Buffalo is once again hosting its own Shark Tank-like competition for business owners to get in on a ton of cash.
It's hard to believe that it's been ten years since Buffalo started its startup business competition. Still, the 10th annual 43North program finals are here, and eight businesses are making a pitch to get in on $5 million in venture capital funding.
Nearly 1,000 businesses applied this year to participate in this groundbreaking program, which started right here in Western New York. 43North is a unique competition that allows businesses to vie for capital funding.
Out of the 1,000 businesses that entered the contest, that number was narrowed down to 16 semi-finalists. Those semi-finalists then were further narrowed down to 8 finalists who have the opportunity to pitch their products or services Shark Tank-style. 5 of the businesses will be chosen to each win $1 million in funding, along with free office incubator space in Buffalo. In addition, the companies are eligible for incentives and tax breaks from START-UP NY and other key business services, like mentorship and guidance from experts in their business field.
The pitch competition will be held on Thursday, October 10, 2024, at Shea’s Performing Arts Center in downtown Buffalo.
In the 10 years since 43North started, the portfolio's 69 businesses have raised nearly $1 billion in venture capital and created nearly 3,000 jobs. Several of the businesses have also become unicorns, including one that went public and was traded on NASDAQ.
If you're interested in submitting your business for the competition next year or attending the finals, the details are on the 43North website.
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