Buffalo is becoming a hotbed for business entrepreneurs. The city is ranked number two on Entrepreneur Magazine’s list of booming communities for start-ups.
On a list of eight cities, Buffalo trailed only behind San Diego, receiving high marks for “a healthy environment of investment and innovation.” The magazine gives credit to Buffalo’s revitalization and investments in existing infrastructure for financial services, biotech, sports science and education, as well as “great incubators” like 43North – the group that organizes an annual business competition.
43North Director of Marketing Peter Burakowski said Buffalo should celebrate this achievement.
“Our community should be proud of the momentum we’re having right now; which is greater than we have seen in more than a generation. Now is the time to keep the foot on the pedal, and keep our entrepreneurial ecosystem heading in the right direction.”
Being on Entrepreneur’s list could bring numerous business opportunities to Buffalo. Burakowski agrees that the city has momentum when it comes to attracting start-ups and luring companies that have room to grow.
“It’s important to shape perceptions of Buffalo as a city on the rise for entrepreneurship. That helps us attract more great entrepreneurs to our community. That also helps us get on the radar of investors who can refer good companies to our community, but also put their money into startups that are settling their roots here in Western New York,” said Burakowski.
The city is developing from its strengths and its long history in advanced manufacturing. Many of the city’s assets, such as the growing medical campus, allow for the development of biomedical start-ups. Buffalo can attract millennials who are looking to get involved in certain start-up businesses.
“This is really looking at the jobs of tomorrow,” Burakowski said. “We want to keep millennials here, keep the next generation that follows here, and attract young talent here. We want to start now, and bring the jobs of the future here to Buffalo.”
Many people in the city – mainly the large college population – have a great deal of opportunities to get in on the ground floor of new companies. Burakowski hopes many of the start-up businesses that are beginning in Buffalo could blossom into the large employers of tomorrow.
“Whether it’s helping SWAT teams be able to see a live shooter situation with 360 degree video, or trying to develop a target cancer therapy so people can fight cancer with less side-effects, these are big ideas with brilliant people working on them.”
Rounding out the list of eight are Richmond, VA; Raleigh-Durham-Chapel Hill, NC; New Orleans, LA; Cincinnati, OH; Nashville, TN; and Baltimore, MD.