East Aurora Bee
For the second consecutive year, East Aurora-based Loptr has been named as a semifinalist in the 43North competition, according to a press release from the information security company.
Loptr, located on Main Street and founded by East Aurora resident Dave Newell, is one of 142 companies in the running to receive $1 million, $500,000, or $250,000 in prize money.
Known as the world’s largest business idea competition, 43North gives nearly $5 million in cash prizes each year to entrepreneurs and startups from around the globe.
Out of an initial pool of 542 companies in this international competition, Loptr is one of 24 companies from Western New York to make it to the second round. Businesses as far away asSouth Korea, Bulgaria, Serbia, and Vietnam, among many from Canada, are among the 36 companies from 11 countries competing from outside the United States.
“It is gratifying to know Loptr is getting recognition in the most ambitious startup competition ever unveiled in the United States,” said Newell. “Our software is close to market-ready, so 2016 is a big year for us, and winning 43North would be over the top.”
Newell and his partner, Jason Sardo, founded Loptr in 2013. Together with their six employees, Loptr has created a service, and is creating software, that integrates policies, procedures, training, awareness, risk analysis and a security dashboard.
The company currently has a roster of Western New York clients, like AAA Western & Central New York and HEALHeLINK.
“Our long-term goal is to have our software help organizations to plan, implement, operate, and monitor their overall security and compliance programs themselves,” said Sardo.
Newell participated in the mandatory video pitch on July 23 in hopes of Loptr being one of 16 to 20 companies asked to participate in the final round in late October. Should Loptr made the cut, Newell will pitch one last time to the judges on Oct. 26, and winners will be announced Oct. 27 at Shea’s Performing Arts Center.
43North operates through the support of Gov. Andrew Cuomo’s Buffalo Billion initiative and grants of $6 million from the New York Power Authority and $1 million from Empire State Development.
Additional support comes from National Grid and several other sponsors. For a full list of sponsors and more information about 43North, visit www.43north.org.
Original article can be found here.