With the support of $1.5 million from Empire State Development, 43North will join the new tech hub that Douglas Development is creating in the building
BUFFALO, NY – Aug. 15, 2019 – 43North is relocating its headquarters to Seneca One, officials announced today. With the support of a $1.5 million grant from Empire State Development, 43North will become the latest addition to a new tech hub that Douglas Development is creating in the building.
The move will give 43North’s portfolio companies the opportunity to scale their businesses in a vibrant, active environment that will be densely packed with tech talent, thanks in large part to the more than 1,000 new technologists that M&T Bank plans to house in Seneca One starting in early 2020. 43North’s staff, Z80 Labs and Techstars Buffalo will also move into the new space.
With Seneca One straddling Buffalo’s reborn downtown core and its exciting waterfront, 43North’s companies will find themselves just steps away from an abundance of potential customers, suppliers, service providers, mentors and investors, as well as housing, dining, attractions, events and outdoor recreation.
“The cities and organizations that attract, retain and cultivate top tech talent will be the ones that thrive in today’s innovation-driven economy. It’s no secret that startup founders and technologists want to work in dynamic, inspiring environments where there are opportunities to ‘collide’ with other members of the tech community – that’s precisely what 43North will be able to offer in our new headquarters,” said Eric Reich, Chair of 43North’s Board of Directors and founder and CEO of Campus Labs. “Since Seneca One was built, it has held a prominent place in Buffalo’s skyline – now it will have a prominent place in our city’s entrepreneurial ecosystem.”
43North’s portfolio companies are creating more jobs in Western New York than ever. As a result, for the last eight months, 43North has needed to rent additional space outside of its main incubator space. Moving to Seneca One will enable the organization to reunite its operations in one space that is large enough to accommodate the growing staff needs of its portfolio companies.
“Each new class of 43North portfolio companies has raised the bar, whether you consider the caliber of their teams, the volume of capital they’ve raised, or the amount of traction they’ve achieved. It’s 43North’s responsibility to continually up our game, as well, to ensure that we provide our companies with every opportunity to scale their businesses and establish long-term roots in Buffalo,” said 43North President Alex Gress. “43North’s new headquarters in Seneca One will be an important asset in attracting additional world-class startups to Western New York. It will also serve as a strong selling point for our companies, as they recruit talent to grow their businesses.”
“Over the last five and a half years, 43North has helped put Western New York’s startup ecosystem on the map – we are very excited to welcome them to Seneca One,” said Douglas Jemal of Douglas Development Corporation. “As 43North’s portfolio companies interact with technologists from M&T Bank and other organizations in Seneca One, we will be creating a tech hub that will help make Buffalo competitive with other cities for decades to come.”
“When M&T Bank announced in late June that it had picked Seneca One as the site of its Tech Hub, I saw it as a turning point in efforts by my Administration, and our corporate and educational partners, to attain the mutual goal of making Buffalo a destination for tech talent,” Mayor Byron W. Brown said. “Today’s announcement that 43North will relocate to Seneca One is a great next step to create the critical mass necessary to grow Buffalo’s digital economy. This is also great news for downtown Buffalo and for Douglas Jemal and Douglas Development, as the $120 million adaptive reuse of our city’s tallest building gains further momentum.”
“It is only fitting that 43North, a competition that has brought so much renewed energy and transformation to Buffalo, will be making its new home at Seneca One’s new tech hub,” said Senator Tim Kennedy. “Through this move, we’re connecting entrepreneurs and innovators under one roof and further fueling the exchange of cutting-edge ideas, all in the heart of the Queen City. I have every confidence that 43North will continue to attract world-class entrepreneurs, and I applaud New York’s commitment to this catalyst for long-term economic growth.”
“Congratulations to 43North on its plan to relocate to Seneca One,” said Assembly Majority Leader Crystal Peoples-Stokes. “Also, thank you to Douglas Jemal of Douglas Development for having the vision to repurpose Seneca One into what will be the epicenter of a technological renaissance here in Buffalo. Joining M&T at Seneca One, 43North’s addition helps add to Western New York’s growing stature and aids our entrepreneurial ecosystem in establishing a tech cluster.”
“The ongoing transformation of Seneca One is adding to downtown Buffalo’s vitality and the relocation of 43North’s headquarters to the site builds on the momentum that is already happening there,” said Erie County Executive Mark Poloncarz. “43North attracts tech innovators, creators, and engineers who envision and build the technologies that shape our lives, and the Tech Hub at Seneca One is a natural fit for them to work in close proximity to other tech creators. It is an exciting time for Erie County’s tech sector and an invigorating time as jobs come back to downtown.”
“With 43North in the Tech Hub at Seneca One, new talent and new ideas will ‘collide’ within a culture and community of innovation, initiative and entrepreneurialism,” said M&T Bank Chairman and CEO René F. Jones. “This move advances a community wide initiative to grow our creative class and strengthen our tech ecosystem, helping Buffalo to compete in today’s dynamic, digital economy.”
43North will share additional details on the move in the coming weeks.
43North is the startup competition that invests $5 million annually to attract and cultivate high-growth startups in Buffalo. 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 Andrew Cuomo, Empire State Development and several other sponsors. For more information about 43North, visit www.43north.org.