Buffalo, N.Y. (WBEN) - And then there were eight.
Eight finalists will battle it out Thursday night for five $1 million prizes at Shea's Theatre in Downtown Buffalo.
"It's Buffalo's own 'Shark Tank'," said Colleen Heidinger, 43North President. "The difference between us and the television show is that any company that receives our investment, will be moving to Buffalo."
The competition among startups, now in its 11th year, has had a measurable impact on Buffalo.
Heidinger said 1,000 jobs have been created around Buffalo.
"It has certainly exceeded our expectations," she said. "We're grateful to the founders of our program who remain committed here."
Funded by New York State, the program annually invests $5 million into promising startups. The eight finalists are from all over the country, and one from the United Kingdom.
The success of the program over the past decade has cultivated a robust start-up community in Buffalo.
"Our first IPO was with APV Auctions. They are now trading on the public market. They have 500 people that work in Downtown Buffalo. Just a huge success story," Heindinger noted. "Top Seedz is also in Downtown Buffalo. 70 people are making all of the crackers that are distributed across the nation."
The program starts at 6 p.m. Tickets are free and open to the public. They can be obtained through Ticketmaster. Doors open at 5 p.m. A sellout is expected.