Buffalo, N.Y. (WBEN) - The 43 North annual business competition is well underway this year as 15 startup businesses from all over the world are looking for $1 million in financial backing from the accelerator program, looking to bring high-growth companies to Buffalo.
Starting Wednesday at 9:30 a.m. at the Seneca One Tower auditorium, 15 semi-finalists will become 8 finalists as the 43 North team will narrow the field for the finale night Thursday at Shea's Theatre in Buffalo. No ticket is required and anybody can attend.
Christian Gaddis, Senior Marketing Manager for 43 North explains what the judges are looking for their five recipients of the financial backing, "It's a large range of judging criteria, truthfully. We look at everything throughout the process from what's their plan for Buffalo, in terms of moving their company here or even growing their team here and we look at things like the market size, does it make sense? Are they a good fit? We also look to invest in the founders themselves, because oftentimes, that's what you're betting on with these businesses."
Gaddis says that over 700 companies submitted applications this year, a large increase from previous years. He and his team are excited this year because unlike previous years, 43 North will be awarding five of their eight finalists $1 million dollars each in financial backing.
However, it's more than just the financial backing, "We have a recruiting initiative called Forge Buffalo that looks to connect talent with startups and tech companies in Buffalo. We have a team of recruiters that work closely with the companies and the founders to make sure that they're finding that talent that exists here and the great thing about this initiative is that not only do we work with the 43 North portfolio companies but we extend to the larger startup and tech ecosystem that exists in Buffalo," Gaddis said.
In addition, the winners of the competition will receive office space in the Seneca One Tower, one-on-one mentorships with experts in their sector and a chance to operate tax-free as part of New York's START-UP NY program.
One local business still in the competition, is CAHill Tech from Clarence. CAHill Tech is a SaaS tech firm providing job-readiness for tradespeople and reportable metrics for employers through CAHill's flagship product, aQuiRe™.
"This was actually my third time applying to 43 North. As a founder, I've always been super excited about learning new ways to grow businesses. This whole world was something really new to me and I was so excited to find this incredible ecosystem in Western New York when I founded my own SaaS technology company and [I] figured I'll throw my hat in the ring, because it's always good practice. Lo and behold, our company grew and grew. We have an amazing team and awesome clients and we thought, 'Well, let's try one more time.' and we sure got in [this time]," said Carley Hill, CEO and Founder of CAHill Tech.
"We're just excited to bring this home, to make a mark on our city and to make Buffalo known as the city that brought back the trades," says Mariah Ramos. Chief of Growth and Sustainability at CAHill Tech.
Tickets are free for the finals night at Shea's Buffalo Theatre, you can find them here. In addition to the pitches, there will be a special live performance by Buffalo's own rock 'n soul band, Farrow.
"I think the best part about this event is that anyone and everyone can join. The atmosphere is very cool. It's almost like seeing Shark Tank live. These companies are coming and they're pitching on stage. They're super excited for the opportunity and we're super excited to have them, it's open to the public," Gaddis said.
