Five local companies are still in the running for the $1 million grand prize in the 43North business competition.
In all, 19 finalists have been chosen to make live pitches in front of judges Oct. 27 and Oct. 28 in Buffalo.
43North resumed its annual competition this year after the pandemic caused the cancellation of last year’s program. More than 300 startups submitted applications this spring; eight companies will ultimately be selected for awards ranging from $1 million to $500,000.
In return, they give up 5% of their company and pledge to operate from Buffalo for a year.
43North is funded by New York state as an economic development tool that seeks to support Buffalo’s startup economy. Over the years, it has awarded prizes to companies that became significant employers such as ACV Auctions, HiOperator, Kangarootime and Circuit Clinical.
“The reputation of 43North, the strength of the program and some of the wins we’ve had over the past year and a half have really been helpful,” said Colleen Heidinger, 43North president. Applicants “understand there is something going on in Western New York and they want to be part of it.”
This year’s finalists from Buffalo are:
Bettermynd Inc. (led by Cody Semrau): An online therapy platform for college students. Read previous Business First coverage of Bettermynd here.
Ognomy (led by Dr. Daniel Rifkin): A tech-enabled, at-home diagnosis and treatment solution for sleep apnea. Read previous coverage of Ognomy here.
Top Seedz (led by Rebecca Brady): Manufacturer of artisan crackers and seeds. Read previous coverage of Top Seedz here.
![Regenor Jim 121[1]](https://media.bizj.us/view/img/11484281/regenorjim1211*540xx2055-2740-0-0.jpg)
VeriTX (led by James Regenor): A blockchain-based solution for the digital supply chain. Read previous coverage of VeriTX here.
Verivend (led by Aaron Santarosa): A business-to-business fintech focusing on payment solutions. Read previous coverage of Verivend here.
The remaining 43North finalists are:
- Akala (Beverly Hills, California): A college admissions counseling platform.
- Big Wheelbarrow (Austin, Texas): Software-as-a-solution startup targeting the food distribution industry.
- BotFactory (Long Island City): Developer of desktop PCB printers.
- Cheelcare (Richmond Hill, Ontario): Assistive mobility devices and accessories.
- Flox (London, United Kingdom): Technology to support welfare-first farming.
- Infiuss Health (San Jose, California): A Saas platform powering remote research/clinical trials in Africa.
- Kapitalwise (New York City): Helping financial firms create complex customer engagement workflows.
- Kilter Inc. (Madison, Wisconsin): Mobile platform that turns everyday activities into charitable fundraising opportunities.
- Tequity (Kalamazoo, Michigan): Removing the cost and complexity of mobile app development.
- Zealot Interactive (Arlington, Virginia): Curated marketplace of musical lessons.
- Laundries Corp (Manor, Texas): An autonomous linen management platform for hoteliers.
- MetaBob (Mountain View, California): An assisted artificial intelligence tool for debugging.
- Ontopical (Calgary): Using tech to help contractors uncover opportunities to work with local governments.
- ShearShare (McKinney, Texas): Business-to-business mobile marketplace to monetize underutilized assets in the beauty and barbering industry.
In recent years, 43North has sought more mature companies that have been through other accelerator programs, raised money and clarified their go-to-market strategies. Sixty-two local judges did extensive due diligence on the companies through multiple funding rounds before the finalists were ultimately picked by the 43North investment committee.
The judges also heavily weigh how founders plan to build a business infrastructure in Buffalo.
“Judges look for existing ties and relationships and companies that can clearly define their plans in Buffalo,” said Kevin Siskar, 43North vice president of portfolio and selection.
The week of the competition will involve four public events, starting with a 716 Career Fair from 3 to 6 p.m. Oct. 25 at Seneca One Tower.
Thirty venture capitalists from around the country will be present Oct. 27 at Seneca One Tower as leaders of the 19 finalists pitch their company and answer questions.
43North will host a startup showcase event in the morning of Oct. 28 before 10 finalists converge on Shea’s Performing Arts Center for the finale pitches and awards ceremonies. About 3,000 people are expected to attend the finale event at Shea's. Masks and proof of vaccination will be required to attend the event, which will also be live streamed.
