Published March 12, 2015
Three companies, including the 43North grand prize winner and a Brazilian software developer, have been approved for START-UP NY through their affiliation with UB.
The companies, which will relocate to, start up or expand on or near UB’s campuses, expect to create 40 jobs and invest $12,533,830 in the region within five years.
Each company has ties to the university’s academic and research strengths, and each will collaborate with UB faculty researchers and students, and offer internships, scholarships or jobs to students.
“We are delighted to welcome these forward-thinking companies to Western New York and UB looks forward to working with these newest START-UP NY partners as we continue to build a thriving culture of innovation across our region and state,” says President Satish K. Tripathi. “UB is proud to play a leadership role in this innovative economic development program, which is steadily attracting talented and pioneering entrepreneurs who want to be part of the exciting opportunities we’re creating across the region. The addition of these three companies is a great example of that.”
43North is the world’s largest business plan competition and part of Gov. Andrew M. Cuomo’s Buffalo Billion initiative. In October, judges declared Adiabatic Solutions (ASi) the contest’s grand prize winner. ASi was founded by Glenn Thomas, a UB engineering alumnus.
START-UP NY stands for SUNY Tax-free Areas to Revitalize and Transform Upstate New York. Created by Cuomo, the program aims to spur economic development by enabling universities to identify areas where new and expanding businesses can operate for 10 years without paying New York State business, corporate, income, sales or property taxes, or franchise fees.
Since Cuomo announced the program, 37 companies have pledged to move or expand in the Buffalo Niagara region and work with UB to further their respective business. The 37 companies plan to create 1,452 jobs and invest $45,122,422 in the region.
Note: CoachMePlus, which was accepted into START-UP NY via UB in June 2014, withdrew its application in February. The company planned to create 25 jobs and invest $770,000. These totals have been subtracted from the figures above.
The three new companies are: