Eleven finalists were announced in the 43North business plan competition Thursday. The contestants are competing for $5 million in cash prizes, including a top award of $1 million dollars. Each of the competitor is guaranteed to receive a cash prize of at least $250,000.
The finalists are from across the world, including Taiwan, Scotland and Canada. Two finalists are from western New York, they’re from Tonawanda and Batavia. One alternate competitor is from Amherst.
The final eleven business ideas are in the med-tech, bio-tech, high-tech, and advanced manufacturing industries. 43North Executive Director Andrew Pulkrabek says the local finalists are a reflection of the great talent in the community.
“In my opinion what that really says is it’s a good example of what’s going on within western New York. I think all too often people within western New York and Buffalo may not quite appreciate or realize the full potential of what exists is here. What this does is start to highlight some of what really is here. There’s great potential and we see that time and time again. We had a great contingent of the overall applicants from New York,” said Pulkrabek.
Winners will be required to stay in Buffalo for one year and grow their business, specifically in a START-UP NY zone. WNY Regional Economic Development Council Co-Chair Howard Zemsky says he believes once entrepreneurs see all the region has to offer they will make a more long-term commitment to stay local.
“What we’re counting in is that they fall in love with western New York. We’ll provide mentoring and we’ll provide transition services for people who are relocate here, but I think this community is impossible not to fall in love with,” said Zemsky.
Finalists will pitch their business idea to a panel of judges in competition for the top prize at Shea’s Performing Arts Center on October 30th. The winners will receive their cash prizes during a ceremony at the competition.
The eleven finalists are:
Hometown: Tonawanda, NY
People's Choice Award voting hashtag: #43North1
ASi, LLC’s rapid metal forming system is set to transform manufacturing by providing superior performing components that cost less. The company’s process aims to strengthen metals, which enable lighter and longer life components to improve the performance of engines, implantable medical devices and more. ASi, LLC also plans to return jobs to the U.S. by beating offshore pricing.
Asana Medical, Inc.
Hometown: Miami Lakes, FL
People's Choice Award voting hashtag: #43North2
Asana Medical seeks to improve the quality of one’s health and therefore quality of life by providing a novel treatment for debilitating digestive diseases with a patent-pending medical device that stimulates the body to heal itself. Asana Medical offers a drug-free, surgery-free twist on a proven therapy and targets the $9 billion ulcerative colitis market.
Hometown: Taipei, Taiwan
People's Choice Award voting hashtag: #43North3
EcoBreeze is a revolutionary, fan-less cooling solution which generates continuous vortex flow using multiple vibrating-fans. The product’s high reliability, outdoor usability, flexible design and low cost make it a good option for ICT and LED lighting cooling.
Hometown: Somerville, MA
People's Choice Award voting hashtag: #43North4
Energy Intelligence is an emerging clean tech company developing ultra-compact, road-mounted technology that converts wasted kinetic energy from braking vehicles into renewable electricity. The patented technology is intended for use at slowdown points such as parking garage entrances, toll plazas and weigh stations, and can power equipment onsite to reduce electricity expenses.
Eulysis UK Limited
Hometown: Edinburgh, Scotland
People's Choice Award voting hashtag: #43North5
Eulysis UK is a groundbreaking development company focused and committed to optimizing pharmaceutical access globally. In collaboration with the World Health Organization, Gates Foundation and other major institutions, Eulysis UK intends to commercialize the SVS technology on a global scale to provide expanded access to life-saving medicines.
Hometown: Mason, OH
People's Choice Award voting hashtag: #43North6
Genetesis is a biotechnology company oriented towards optimizing drug design for treatment of heart rhythm disorders by applying novel algorithms that analyze real-time functional heart electrophysiology. Using a patent-pending system, including a non-invasive sensor array and powerful software, Genetesis is able to quantify responsiveness to drugs before they are administered.
Hometown: New York, NY
People's Choice Award voting hashtag: #43North7
HemoGenyx is a biotechnology company developing a revolutionary new treatment for blood diseases, such as leukemia and lymphoma. The company leverages a special class of cells, which can generate cancer-free blood stem cells. HemoGenyx’s therapy can dramatically increase the efficacy of bone marrow transplants and eliminate the need for donors.
Hometown: New York, NY
People's Choice Award voting hashtag: #43North8
KeepUp is a productivity app that lets you take back your life from social media, without missing out on important moments. KeepUp tracks 12 major life events from six social media sites and puts you in control of who you follow, what events you see and when you get updated.
Medical Conservation Devices, LLC
Hometown: Batavia, NY
People's Choice Award voting hashtag: #43North9
Based on an exclusively licensed patent portfolio from the University of Buffalo, Medical Conservation Devices has developed a low-cost anesthesia machine to expand the use of anesthesia globally, including in later approvals to sedate critically ill patients and provide anesthesia to up to 8 patients at one time.
Raland Therapeutics, Inc.
Hometown: Fairport, NY
People's Choice Award voting hashtag: #43North10
Raland Therapeutics is a development-stage bio-device company focused on implantable biosensors. The company’s CytoComm™ Biosensor is a real-time monitoring system, which uses living cells to “read” a patient’s physiologic response to chemotherapy. The system also allows the personalization of dosing strategies to reduce the toxicity that so often impacts one’s quality of life.
Hometown: Markham, Ontario, Canada
People's Choice Award voting hashtag: #43North11
triMirror has the world’s first real-time fitting solution that allows the try-on of real clothes on accurate avatars. The technology shows the consumer where the garment is tight or loose with tension maps, how the garment behaves while moving, and shows the garment side-by-side with others. The user can even manipulate the fabric with a finger.
43North also announced its two alternates, which are Attend LLC of Cazenovia and Programmable Equipment Company LLC of Amherst. Should any of 43North’s 11 finalist companies not be able to fulfill their duties, one or both of the alternate companies would be elevated to finalists.