Governor Kathy Hochul has announced the eight finalists for the 10th annual 43North startup competition, which will take place on October 10 in Buffalo, New York. These startups, representing a variety of industries such as AI, fintech, and foodtech, will compete for one of five $1 million prizes. The 43North program, funded by New York State, has significantly boosted Buffalo’s reputation as a national startup hub, creating nearly 1,000 jobs and generating close to $1 billion in follow-on investments. The winning startups will gain funding, mentorship, and the opportunity to grow in Buffalo’s flourishing entrepreneurial environment.
NY Governor Hochul Announces Finalists
for Tenth Annual 43North Startup Competition
Eight Startups from Around the Country Selected to Pitch for Five $1 Million Prizes. Competition Has Created Nearly 1,000 Jobs in Western New York and Resulted in Almost $1 Billion Dollars in Follow On Investments
Governor Kathy Hochul today announced the eight finalists for the 10th annual 43North startup competition taking place tomorrow, Oct. 10, marking ten years of entrepreneurial success in Buffalo achieved by investing in the innovative businesses and jobs of the future. This year’s finalists from across the country span a diverse range of industries, including edtech, fintech, AI, foodtech, healthtech and more. A team of 24 venture capitalists heard pitches from the 16 semi-finalists and selected the eight teams that will be moving on to tomorrow’s big event, where they will pitch their extraordinary ideas in front of a live audience at Shea’s Performing Arts Center – competing for one of five $1 million investments and the chance to scale their businesses in one of the nation’s fastest-growing startup ecosystems.
“Buffalo has an impressive history of innovation, and 43North is continuing this tradition by drawing some of the most exciting startups from around the world to the region,” Governor Hochul said. “The impact of 43North is undeniable. Over the past ten years we have seen Buffalo become recognized as a national startup hub and we look forward to seeing how this year’s cutting-edge businesses and top talent will fuel Western New York’s growing entrepreneurial economy.”
In addition to funding, the 43North accelerator provides mentorship, office space, access to a wide network of investors, and resources that help startups scale effectively. Over the past decade, 43North has invested in 69 companies, 52 percent of which have remained in Buffalo. The portfolio features 50 percent of companies led by founders of color and 26 percent led by female founders.
43North President Colleen E. Heidinger said, “We’re excited to welcome over 3,000 attendees for our tenth 43North Finals competition, where a new group of startups will compete to join our portfolio and the opportunity to become part of Buffalo’s growing innovation community. With support from New York State and Empire State Development, 43North continues to foster innovation and growth across the Buffalo entrepreneurial ecosystem.”
More than 3,000 audience members at this year’s 43North Finals event will cheer on the new crop of competitors vying for a place in 43North’s portfolio. The 43North business accelerator is funded by New York State and receives support from Empire State Development to operate competitions. Following a successful return in 2023, the $25,000 People’s Choice Award, sponsored by Highmark Blue Cross Blue Shield, will once again be decided by a live audience vote during the finals event tomorrow.
The 2024 43North Finalists are:
8B Education Investments –Ithaca, NY
8B Education Investments is a fintech platform enabling campuses to meet their revenue and enrollment goals by tackling the $50 billion gap in education financing facing African students going to study in the US.
Cactivate – Boston, MA
Cactivate is a plug-and-play, marketing copilot for small and medium-sized businesses. Its vertically-integrated one-stop-shop uses large language models and retrieval-augmented generation to prescribe and assist with marketing strategies.
CoverRight – Brooklyn, NY
CoverRight is on a mission to improve the lives of older adults by guiding them through health, finance and lifestyle options that benefit them.
FLUIX – Tampa, FL
FLUIX is an Autonomous AI software platform that saves critical buildings, such as data centers, up to 40 percent in energy costs by intelligently connecting and holistically controlling facility systems.
FoodNerd – Buffalo, NY
FoodNerd is a food technology platform redefining the processing of shelf-stable foods. Its patent-pending technology produces nutraceutical-grade food with vitamins, minerals, and phytonutrients preserved intact.
HeronAI – Cambridge, MA
HeronAI has created the only Growth Opportunity Tool designed for accounting firms to streamline month-end advisory reporting. HeronAI helps reduce reporting time from weeks to under 5 minutes.
Rarebird – San Francisco, CA
Rarebird makes Px (paraxanthine) coffee, a patented coffee with the world’s first caffeine replacement.
Spiky.ai – Brookline, MA
Spiky empowers revenue teams with real-time AI-driven customer insights for enhanced selling effectiveness.
You can watch the 43North Finals live online at 43North.org starting at 6:00 p.m tomorrow, Oct. 10.
About 43North
43North is an accelerator program that hosts an annual startup competition, investing $5 million per year to attract and cultivate high-growth companies in Buffalo, NY. 43North portfolio companies also receive free incubator space in Buffalo for one year, guidance from mentors in related fields, and access to other business incentive programs such as START-UP NY. 43North operates through the support of Governor Kathy Hochul, Empire State Development, the M&T Foundation and several other sponsors. For more information about 43North, visit www.43north.org.
October 9, 2024 Albany, New York
Five Critical Questions from an Open Market Point of View:
- How does 43North’s focus on diverse industries and founders position Buffalo to attract further national and international business investment?
- What impact does the influx of innovative startups have on the job market and local economy in Buffalo?
- How do 43North finalists compare with startups in other U.S. cities in terms of scalability and market disruption potential?
- What role does government support, such as through Empire State Development, play in sustaining long-term entrepreneurial growth in Buffalo?
- How will Buffalo’s growing reputation as a startup hub influence real estate, infrastructure, and community development in the region?
Source: NY.gov , Midtown Tribune
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