Governor Cuomo has announced that the 43North competition has been whittled down to eleven finalists as of this morning. From here, each of the eleven teams will compete in front of a panel of judges to see who will come out on top. That competition will be held on October 30, 2014 at Shea’s Performing Arts Center.
Along with free incubator space and access to additional incentive programs (i.e. Start-Up NY) the top cash prizes (funded by the NY Power Authority) will be broken down into the following:
- $1 million to the winner
- One of six $500,000 prizes
- Four $250,000 prizes.
“Thanks to this Buffalo Billion initiative, businesses across the globe are now paying attention and are excited to see what this region has to offer,” Governor Cuomo said. “These new businesses and inventive concepts will only add to the economic momentum in Buffalo, a city that is truly on the move.”
As an added incentive to promote the competition, Larkin Development Group is sponsoring an added $10,000 prize to the finalist – A People’s Choice Award – to the team that prompts the most Tweets for its business concept leading up to the event on October 30. The respective hashtags can be found below, along with a description of each of the finalists.
Western New York Regional Economic Development Council Co-chair and Managing Partner at Larkin Development Group Howard Zemsky said, “Governor Cuomo’s leadership has helped the 43North business idea competition draw interest from innovators and founders from around the world, shaping perceptions about Buffalo’s entrepreneurial ecosystem along the way. I am eager to learn more about the finalists and their plans to grow their businesses in the Buffalo Niagara region.”
Sponsors of the competition include the Governor, the New York Power Authority, and Launch NY.
43North Steering Committee Chairman Jordan Levy said, “43North attracted nearly 7,000 applications from 96 countries and all 50 states. After two rounds of judging, we are down to our 11 finalists. Each team is exceptional talented, and we are excited to see what they hold in store for us.”
Empire State Development President, CEO & Commissioner Kenneth Adams said, “43North is one of Governor Cuomo’s Buffalo Billion signature initiatives and this competition has not only successfully attracted startups from around the world but it has also generated a lot of positive buzz about Western New York’s unique business environment. The finalists will be using their substantial winnings to create new economic opportunities in the Buffalo-Niagara region while taking advantage of the crucial mentoring and support services provided to help encourage their long term success.”
Western New York Regional Economic Development Council Co-chair and President of the University at Buffalo Satish K. Tripathi said, “This competition has generated an overwhelming interest in Buffalo from entrepreneurs in the US and around the world. They are excited about the possibilities that Buffalo has to offer including a welcoming environment for entrepreneurs and their start-up companies. 43North, as part of Governor Cuomo’s Buffalo Billion initiative, is spurring real innovation and job creation in Western New York. We welcome the finalists to Buffalo and look forward to seeing their ideas become a reality.”
Launch NY CEO Marnie LaVigne said, “For those who have been working to build Buffalo’s startup community over the years, 43North is a dream come true. By creating the world’s largest business idea competition, we are making a profound statement about the importance of entrepreneurship in Western New York. All the best to 43North’s 11 finalists when they compete on October 30.”
New York Power Authority Chairman and Erie County resident John R. Koelmel said, “Each of 43North’s 11 finalists will win a significant cash prize – be it $250,000, $500,000 or $1 million – and on October 30, they’ll compete to determine which one they’ll receive. The New York Power Authority is proud to fund the 43North business idea competition through a $5.4 million grant and we look forward to the finalists joining our community.”
The eleven finalists are:
Hometown: Tonawanda, NY
People’s Choice Award voting hashtag: #43North1
ASi’s rapid metal forming system is set to transform manufacturing by providing superior performing components that cost less. The company’s process aims to strengthen metals, which enable lighter and longer life components to improve the performance of engines, implantable medical devices and more. Adiabatic Solutions also plans to return jobs to the U.S. by beating offshore pricing.
Asana Medical, Inc.
Hometown: Miami Lakes, FL
People’s Choice Award voting hashtag: #43North2
Asana Medical seeks to improve the quality of one’s health and therefore quality of life by providing a novel treatment for debilitating digestive diseases with a patent-pending medical device that stimulates the body to heal itself. Asana Medical offers a drug-free, surgery-free twist on a proven therapy and targets the $9 billion ulcerative colitis market.
Hometown: Taipei, Taiwan
People’s Choice Award voting hashtag: #43North3
EcoBreeze is a revolutionary, fan-less cooling solution which generates continuous vortex flow using multiple vibrating-fans. The product’s high reliability, outdoor usability, flexible design and low cost make it a good option for ICT and LED lighting cooling.
Hometown: Somerville, MA
People’s Choice Award voting hashtag: #43North4
Energy Intelligence is an emerging clean tech company developing ultra-compact, road-mounted technology that converts wasted kinetic energy from braking vehicles into renewable electricity. The patented technology is intended for use at slowdown points such as parking garage entrances, toll plazas and weigh stations, and can power equipment onsite to reduce electricity expenses.
Eulysis UK Limited
Hometown: Edinburgh, Scotland
People’s Choice Award voting hashtag: #43North5
Eulysis UK is a groundbreaking development company focused and committed to optimizing pharmaceutical access globally. In collaboration with the World Health Organization, Gates Foundation and other major institutions, Eulysis UK intends to commercialize the SVS technology on a global scale to provide expanded access to life-saving medicines.
Hometown: Mason, OH
People’s Choice Award voting hashtag: #43North6
Genetesis is a biotechnology company oriented towards optimizing drug design for treatment of heart rhythm disorders by applying novel algorithms that analyze real-time functional heart electrophysiology. Using a patent-pending system, including a non-invasive sensor array and powerful software, Genetesis is able to quantify responsiveness to drugs before they are administered.
Hometown: New York, NY
People’s Choice Award voting hashtag: #43North7
HemoGenyx is a biotechnology company developing a revolutionary new treatment for blood diseases, such as leukemia and lymphoma. The company leverages a special class of cells, which can generate cancer-free blood stem cells. HemoGenyx’s therapy can dramatically increase the efficacy of bone marrow transplants and eliminate the need for donors.
Hometown: NewYork, NY
People’s Choice Award voting hashtag: #43North8
KeepUp is a productivity app that lets you take back your life from social media, without missing out on important moments. KeepUp tracks 12 major life events from six social media sites and puts you in control of who you follow, what events you see and when you get updated.
Medical Conservation Devices, LLC
Hometown: Batavia, NY
People’s Choice Award voting hashtag: #43North9
Based on an exclusively licensed patent portfolio from the University of Buffalo, Medical Conservation Devices has developed a low-cost anesthesia machine to expand the use of anesthesia globally, including in later approvals to sedate critically ill patients and provide anesthesia to up to 8 patients at one time.
Raland Therapeutics, Inc.
Hometown: Fairport, NY
People’s Choice Award voting hashtag: #43North10
Raland Therapeutics is a development-stage bio-device company focused on implantable biosensors. The company’s CytoComm™ Biosensor is a real-time monitoring system, which uses living cells to “read” a patient’s physiologic response to chemotherapy. The system also allows the personalization of dosing strategies to reduce the toxicity that so often impacts one’s quality of life.
Hometown: Markham, Ontario, Canada
People’s Choice Award voting hashtag: #43North11
triMirror has the world’s first real-time fitting solution that allows the try-on of real clothes on accurate avatars. The technology shows the consumer where the garment is tight or loose with tension maps, how the garment behaves while moving, and shows the garment side-by-side with others. The user can even manipulate the fabric with a finger.
*43North also announced its two alternates, which are Attend LLC of Cazenovia and Programmable Equipment Company LLC of Amherst. Should any of 43North’s 11 finalist companies not be able to fulfill their duties, one or both of the alternate companies would be elevated to finalists. On October 30, the 11 finalists will deliver in-person business presentations to a panel of judges at Shea’s Performing Arts Center in Buffalo. Registration to attend the finalist pitch sessions and awards ceremony is free and open to the public at 43north.org.
Photo of the finalists: 43North