WHAT DOES 43NORTH DO?
Research shows that new businesses account for nearly all net new job creation; that one innovation job spawns an additional five in the service sector; that half of all jobs will be disrupted by automation by 2034; and that 54% of millennials want to start or have started a business. That’s why Gov. Andrew Cuomo’s visionary Buffalo Billion initiative called for the creation of 43North to help lead an entrepreneurial movement in Western New York – a process that Brad Feld claims takes 20 years. Since coming on the scene in 2014, we have done a great deal of work on that front (scroll down to learn about it) but we believe that being a good steward of public resources means taking a path of continuous improvement, so please give us your feedback.
We Attract and Grow World-Class Startups
We run a remarkable $5 million startup competition that supports world-class entrepreneurs with cash, mentorship, incubator space, marketing exposure and access to the START-UP NY program, which enables them to operate free of New York State taxes for up to 10 years.
We’ve attracted 29 winning startups to our community from across North America and as far away as Israel and Taiwan. These companies are doing ambitious work, from creating implantable biosensors to monitor the effects of chemotherapy in real-time, to developing targeted cancer treatments, to making throwable balls that allow SWAT teams to see 360-degree video of live shooter situations, to harvesting the by-product of maple syrup production – water – from trees.
Together, our companies have raised over $40 million of investment since becoming winners of our competition and more than half of our portfolio companies still have employees in Buffalo.
We Are a Catalyst for Inclusive Participation
We give Western New Yorkers paths to participate in our entrepreneurial ecosystem as founders, investors, employees, customers, suppliers, service providers and mentors for startups through programming like our 43North Week in October and our Unlikely Mixer networking events.
We are a leader in supporting women and minority-led startups through strategic outreach to encourage diverse startups to enter our competition and creating inclusive entrepreneurship-focused events like our Think Big series and our THE PITCH business competition.
We recently debuted our Strategic Partner program to assist established Buffalo businesses in scouting startups to work with.
We Inspire the Next Generation of Entrepreneurs
We inspire more than 3,000 students per year from 40 local schools through our Students to Startups program, where our winners share their experiences as entrepreneurs with students. In 2017, we launched our 43North Fellowship Program to further engage students.
We Help Put Buffalo on the Map
We shape perceptions of Buffalo as a city on the rise for entrepreneurship through media relations work that has generated more than 1,500 stories in outlets like The New York Times, Wall Street Journal, USA Today, Forbes, Fortune, Inc., Entrepreneur, Black Enterprise, the Financial Times, Yahoo News!, Fast Company and the Huffington Post. We recently debuted our Latitude podcast and our 43Forward vlog, and we have attracted more than 60 million social media impressions and 2 million video views.
WHERE DO WE GET OUR FUNDING?
We are primarily funded through Governor Andrew Cuomo’s Buffalo Billion initiative, including grants of $6 million from Empire State Development and $1 million from the New York Power Authority. We raise an additional $1.737 million from our sponsors.
HOW DO WE ALLOCATE OUR BUDGET?
Want a quick summary of what we do? Click here.
Got an appetite for legal jargon and government filings? Then the following docs will be right up your alley!