Eight companies from Waterloo region have made the list of semifinalists for an international startup competition with about $6.5 million up for grabs.
Organizers say the goal is to turn business ideas with the potential for high growth into funded enterprises located in Buffalo, N.Y.
In a news release, the 43North startup competition released the names of 142 semifinalists from across 10 countries, including Israel, Sweden, Vietnam, South Korea and Australia. Organizers said 26 companies based in Ontario made the list, including five from Kitchener, three from Waterloo and one in Guelph.
“The semifinalists were vetted during a formal, month-long review period conducted by judges from an array of professional sectors,” the statement said.
There’s a grand prize of $1 million US, a runner-up prize of $600,000 US and six $500,000 US awards. Winners will also get free incubator space in Buffalo for a year, guidance from mentors and access to business incentives, organizers say.
These companies will now have to make pitches to compete in the finals in October in front of a live audience and a panel of judges in Buffalo.
Below is a list of semifinalists from Ontario: