BUFFALO, N.Y. (WIVB) — Eight new startup companies from around the world are now calling Buffalo home.
The winners of 43North’s startup competition moved into their new offices in Seneca One on Monday.
They have to stay in Buffalo at least a year, but many said they have no intentions of leaving anytime soon.
Rodney Reisdorf was born and raised in the 716 and now his financial technology company Verivend gets to grow here too.
“Being from Buffalo it’s just great to see the vibrancy and evolution of buildings like Seneca One, this is the place where it’s all happening right now and to be able to grow our business a startup here in Buffalo is really special just because of the growth of the city and the support system,” he said.
Companies around the world enter to win the top investment of $1 million and the runners-up win $500,000.
Another winner, Imtiaz Shams, traveled a long way to be here. He’s from London and founded Flox, a company using artificial intelligence in the chicken farming industry.
“I’m already smelling around Buffalo a little bit and I’m like, alright there’s a lot happening here,” Shams said. “In terms of this being a launch pad for us coming in from the U.K. and Europe it makes a lot of sense.”
The winners not only get office space with 43North, they also get built-in support to grow their companies.
“It’s really that pay it forward mentality where past generations of founders and startups have been able to give the tools and resources and knowledge to newer founders like us to be able to start our own,” Residorf said.
While they’re only bound to stay a year, the goal is for the winners to fall in love with the city of good neighbors and call Buffalo home for years to come.
“You really feel like you can get places quite easily and it’s built for business and I really like that,” Shams said. “You really feel like it’s happening now, like it’s not happened as strong as it will.”
This is the seventh round of winners from the competition.
The applications for this year’s competition will be out soon.