Ten years later, future is bright for Buffalo startup community, but there are still needs

The Buffalo News reflects on the building up of Buffalo's startup ecosystem—especially over the last decade, as the region saw an upswing in startup interest and activity. The article cites successes of more venture capital coming to the region, more startups being launched, and a broader support system in place.

According to experts, the community's changing mindset has persuaded more people to consider starting businesses over the years, but there is still a need for more people to get on board. Ecosystem growth can be a 20-year process, they say, so local economic development officials urge the necessity of continuing to invest in infrastructure that creates new companies. 

The article shares that, after decades of little venture capital flowing to the region, startups are able to raise hundreds of thousands of dollars—and sometimes millions—thanks to the increasing availability of capital from entities such as Launch NY and the University at Buffalo, as well as angel investors and private venture capital.

Experts believe that room for growth exists in connecting the established business community more closely with the startup ecosystem, with having more founder exits, and an aggregated blueprint for how to start and build businesses in Buffalo. There's also a critical need to develop and retain talent from local colleges and universities to fill jobs for growing startups.

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