Governor Launches Year Six of the 43North Start-Up Competition
May 13th, 2019
This week the Governor announced that applications for the sixth year of the 43North competition are being accepted. The 43North competition is a $5 million a year contest where start-up companies compete for prizes and benefits. Winners will receive either the top prize of $1 million investment or one of seven $500,000 investments, a year of free incubator space, the opportunity to be free from New York State taxes for up to 10 years, and 43North’s mentorship and support program, which includes:
- One-to-one mentorship, workshops, and access to a bank of consultant hours;
- Access to an on-staff talent recruiter to help them grow their teams in Buffalo;
- Connections for business development;
- Marketing and media relations support;
- Investor introductions; and
- Additional mentorship from the Techstars network, as part of a new Techstars Buffalo Startup Ecosystem Development program that 43North is partnering on.
Companies that win the competition agree to provide 5% equity to 43North and to locate their CEO and at least half of their staff to Buffalo for at least a year.
The Governor said:
“Over the last five years, the 43North competition has successfully driven high-quality startups to Buffalo where they can grow their businesses. Through this unique competition, we will continue to bring world-class talent and cutting edge businesses to this region to contribute and collaborate with the growing entrepreneurial economy.”