Buffalo, N.Y. (WBEN) - The Shea's Performing Art Center was sold out last night as Buffalo watched eight growing start-ups from around the world compete for five $1 million dollar investments.
The winners announced last night are Mod Tech Labs from Austin, Texas; Agape Wellness Inc. from Rochester, New York; Phood Inc. from New York New York; AMPA works from Santa Monica, California and Otrafy from Chicago, Illinois.
In addition to the investment courtesy of the acceleration program 43 North, the winning companies will move their operations to Buffalo to work with the 43 North team and have access to office space in the Seneca One Tower, one-on-one mentorship with experts in their field, a large network of investors, marketing support and the opportunity to operate tax-free as part of STARTUP-NY.
"I am so shocked, I am so excited to become a Buffalonian," says Bianca Gonzalez, CEO of AMPA works. "It's exciting to be here right now because the community is so supportive. I think that Buffalo is experiencing an innovation Renaissance."
"Our team was spoiling the news before we could even share because everyone was so excited," says COO Lucas Cunha of Otrafy, a Chicago company that uses an AI-powered SaaS supplier management platform with the ability to automate compliance and identify risks.
Their companies focus is on food products and throughout their time here in Buffalo and with 43 North, the Otrafy COO says Rich Products have been mentoring them about the food space here in Buffalo and potential clients. They hope that the food company could be a potential client going forward.
A Central New Yorker is coming to Buffalo to grow her business, Khadesha Okwudili, CEO of Agape Wellness Inc. has received more local funding for her wellness app.
"I've always thought that the local startup community in upstate New York had so much potential. Our first investment came from LAUNCH in New York, which is local. So I always wanted to stay here and give back to the community and show people that startups can be started outside of Silicon Valley, so I'm really excited. I've actually always wanted to move to Buffalo," says Okwudili.
"The opportunity at 43 North is unparalleled. I think it's the greatest opportunity in the world for young founders and young people looking to scale. The track record for Buffalo's execution from operational level is also in unparalleled, so I feel like this is the best opportunity I've had in my life in a long time," says Alex Parmley, CEO of Phood.
Founded in 2014, 43North is made possible by New York State, Empire State Development, the Ralph C. Wilson, Jr. Foundation, and several other sponsors. Their mission is creating jobs here in Western New York as well as attract and retain budding businesses here.
43 North President Coleen Heidinger says this is just the start of what's to come for Buffalo, "One thousand jobs here in our backyard as a result of our portfolio companies. Again, it's just the beginning and we expect that number to grow and grow as the years go on... It's an incredible opportunity, and it's why I'm home."
43 North says their new team of six will be moved in starting the beginning of next year.
