We are less than a week away from the 43 North $5 million dollar start-up competition.
500 applications have now been boiled down to the final 18.
All of them want to win that $1-million dollar top prize and bring their business to Buffalo.
All of the competitors are fine-tuning their two minute pitches- and are ready to get on the stage at Shea’s on Wednesday, October 3rd.
This year, of the 18 finalists, two teams are already based in Buffalo.
Lauren Baynes, Associate Vice President with 43 North says, “This competition is like, “Shark-Tank” live. So if you love to see entrepreneurs pitching their companies, their products, on-stage live, getting grilled by celebrity judges, this is the perfect opportunity to do that.”
Two of those teams that will be grilled are based in Buffalo. The first is called LegWorks.
Baynes said, “Legworks is revolutionizing the prosthetics industry. Over 90 percent of amputees across the globe don’t have access to high quality prosthetics, and leg works is trying to change that.”
They want to do this by creating a prosthetic that is functional, accessible and affordable to everyone.
Baynes said, “There’s a lot of great prosthetics out there,and there is a lot of affordable prosthetics out there, this product does both.”
The other hometown team hitting the stage is called Dimion.
Baynes said, “They’re a chemical manufacturing company, and they’ve manufactured a chemical that can be applied to windows to improve energy efficiency. So, keeping cool air out in the winter, and in the summer keeping that hot air out and keeping your business cooler or warmer depending on the weather.”
Baynes says this team knows their product will appeal to a buffalo audience that deals with weather, year round.
But she also says their biggest challenge could be to create an exciting presentation and break it down to just two minutes.
Baynes said, “I think they’re making something innovative they have revenue they have potential customers, so I think they’ll really have to focus on the financial aspect.”
The state funded competition gives out $1 million dollar and $500 thousand dollar prizes every year- totaling $5 millon dollars.
Leaders tell us it’s important that these companies want to set up shop here. They will wire local employees and help Buffalos economy grow.
The show is sold out already this year, for the first time ever.
We’ll bring you the winners on News 4 on October 3rd.
For more on the competition visit the 43North website.
You can also listen to Lauren Baynes and 43North colleagues detail the finalists through a podcast here.