Published February 22, 2024

Entrepreneurs are getting younger and even more willing to take risk

In its annual Prospectus, The Buffalo News took a deep dive into the growth of Western New York's startup ecosystem, citing as reasons "the increased number of support organizations, mentors and coaches, and availability of investment capital, as well as the increased exposure to entrepreneurship as a career path."

The article states that accelerator 43North was a catalyst, with other support organizations like Launch NY, the University at Buffalo's Cultivator program, The WNY Impact Investment Fund, Buffalo Angels and Bootsector rounding out the ecosystem and providing more help to more innovators.

Only five years ago, UB's Entrepreneurship Law Center worked with 10-15 startup clients per semester, and now the center serves over 300 clients at a time.

With a strong network and influences like Buffalo's unicorn ACV Auctions, "it is not uncommon for people to start their entrepreneurial journey as a student, with more business concepts being taught at the K-12 level and many universities providing exposure and encouragement to being part of the startup community."

In addition to supporting younger entrepreneurs, there have also been efforts focused on underserved communities, which has "opened up opportunities for founders from all walks of life."

Read the full story here.