43North kicked off its 10th annual pitch contest on Wednesday in a downtown space that illustrated the very goal of the organization.
The largely state-funded accelerator and incubator revealed details of this year’s annual pitch contest during an event at Top Seedz’s new headquarters, 101 Oak St., Buffalo.
“This is transformation and resurgence unfolding in front of our eyes,” Colleen Heidinger, 43North president, said at the kickoff. “This is why 43North is on the mission it’s been on for 10 years, and this is why there’s no stopping in sight.”
Top Seedz, a former 43North grand prize winner, reported about $5.3 million in sales in 2023 and is on track this year to surpass $10 million. The woman-owned company employs about 40 and the new site will expand its production capacity by 600%.
The 2024 prize structure will mirror last year’s, which means five $1 million prizes are up for grabs. The application process is now open, and goes through June 7 at 12 p.m. EST. The finals will be held Oct. 10 at Shea’s Performing Arts Center.
Winning startups give 43North 5% stakes in their company and must move their headquarters to Buffalo for at least a year.
Related: Behind the scenes: 43North recruits upcoming cohort for pitch contest
From its founding in 2014 through September of last year – before the organization held its 2023 pitch contest – 43North had committed to pumping $40 million into 64 startups.
