By: Grant Paylago
Startups in Buffalo have never been more plentiful, thanks to 43North and their annual competition. In the past, Buffalo’s startup scene was not very prominent. However, since 43North started its competition in 2014, they have invested in over 50 startups and have attracted many more to the city of Buffalo! Known simply as “The Competition”, 43North offers eight winners a $1 million grand prize, seven $500k prizes, office space and more! What’s in it for 43North? They get closer to accomplishing their mission!
43North’s mission statement is to attract and retain high-growth businesses in Buffalo. One clear requirement of the competition is that “Founders should not only be willing to relocate their company to Buffalo but should see significant value and opportunity in operating in a city like it”. 43North is determined to shatter the outside image of Buffalo and help companies understand the several perks of starting a business and even living here. It’s strategically located between several major cities. There’s a large talent pool including students from 21 colleges and universities. It’s affordable, welcoming, friendly and there’s plenty of activities and restaurants. It’s hard for people who haven’t lived in Buffalo to understand that we’re more than snowstorms and chicken wings. 43North gives the chance for startups to understand the value Buffalo has that may have been overlooked.
One such company, Kangarootime, a child care software business founded by Scott Wayman, has settled in Buffalo after winning The Competition in 2017. Before then, Wayman was struggling to keep his business afloat in California and could barely make payroll. Now, Kangarootime is headquartered out of Seneca One Tower, has raised $6 million from investors and has 25 employees based in Buffalo.
43North gave Wayman and Kangarootime a second chance in Buffalo and they made the most of it. Without 43North and The Competition, companies may not understand what Buffalo brings to the table. Buffalo is a lively community with smart, caring and hardworking people. What more could a startup ask for?
For more information on and applications for The Competition, visit: https://www.43north.org/competition/
Feb 7 2022