University at Buffalo (UB)
BUFFALO INNOVATION SEED FUND
Seed funding to take your business to the next level
Buffalo Innovation Seed Fund (BISF) is an early-stage, evergreen venture capital fund with $10M in assets under management dedicated to growing the next generation of outstanding, diverse businesses in Buffalo and Western New York.
Startup support beyond funding
Beyond money, startups and entrepreneurs benefit from a long-term relationship with our Startup Ventures team.
We bring a network of successful entrepreneurs to the table for coaching and draw our advisory board members from mid-and later-stage investors. We’ll help you navigate UB resources like our incubators, labs, researchers and hiring students and alumni. Our thorough vetting process can also benefit your business.
INVESTMENT
Who's a good fit for BISF? Ask by stage:
CULTIVATOR
Up to $100k
SEED
Up to $250k with 1:1 match to non-NYS funds
FAQs
No prior affiliation with UB is required to utilize some of our startup support services. If you’re not sure of your eligibility, inquire today, and we'll help you figure out which paths are a fit so we can both invest our time well.
SUNY Research Foundation is the investor. The initial fund has been capitalized by NYS Empire State Development with $10M to deploy as part of the Innovation Hub Initiative.
Convertible Notes, SAFEs and Priced Rounds
You'll find our suggestions below, but don't hesitate to bring your own questions too.
- BISF investments can take 120+ calendar days to run the full process.
- By the time funds arrive, your entity must be a C-corp or a B-corp taxed as a C-corp. You can register in any US state, but don't forget to also register to operate as a foreign corporation in NY.
- BISF invests NYS funds through a public entity and must abide by NYS law during its tenure on your cap as a noteholder or stockholder.
- What is your ask for help? Be specific and motivating.
- Why are you raising funds? What's your goal for this financing round?
- Who is the team that can make this happen? You’ll likely need co-founders.
- By when do you need the funds in this round?
- Have you laid the groundwork for this to be one round (goal, timeframe, terms, participants, strategy)?
- Who will be your lead investor? If you haven’t gotten that far yet, who do you most want?
- Which of your investors come from outside WNY, able to build relationships across the nation and sustain several rounds with you?
- Which investor may be a good match for the 1:1 requirement above $100K?
- How have you set up your board and governance to represent multiple diverse perspectives?
- How can you make quarterly and annual reporting easy?
- Have you hired an attorney familiar with startup/entrepreneurship law to counsel you?
- Have you obtained a commercial bank account to receive funds?
You will pitch to an advisory board of experienced investors, subject matter experts in various technologies, venture capitalists and business people. The team evaluates and provides oversight to the investments awarded.
FEATURED COMPANIES
MemoryFox
MemoryFox is a software-as-a-service company and DIY storytelling platform that makes it easy for nonprofit organizations to collect, organize and share community-generated digital content to build community and raise funds. The company serves organizations across the country, such as food banks, United Ways, and Veterans Service Organizations.
Immunaeon
Immunaeon is a patient advocacy organization that provides educational resources for patients and their families. The company is working to build an infrastructure to store a person’s immune system for future use against potentially life-threatening illnesses. Through patient outreach and engagement, Immunaeon empowers patients to understand their clinical results and make the best treatment decisions possible.
SelectFi
SelectFi is a software company whose product Lender Selector® uses Predictive Lending™ to help dealerships quickly and accurately estimate automotive financing for customers, allowing for greater compliance with FTC fair lending rules.
STARTUP BLOG
Expert advice, practical lessons and inspiring successes from our startups, founders and mentors
Additional resources for startup growth
Get up to $100,000 in pre-seed startup capital and help from experienced entrepreneurs through the UB Cultivator.
Tap into legal services at our Entrepreneurship Law Center if you're not ready to engage outside counsel, but still need quality legal guidance.
Build your business and connect with a diverse network of entrepreneurs in our two business incubators—the Incubator @ CBLS downtown and the Incubator @ Baird near North Campus.