On Thursday, the winners will be announced for the 43North business competition. The hype and buildup appear to be having a positive impact on the local business front.
Attorney David Colligan enjoys a unique perspective on the business competition. He's chairman of Launch New York, an entity created to addrtess the lack of venture capital for startup companies in Western New York.
"In three years time we can now identify seven pools of venture capital funds available to startups,' Colligan explained. "So, it's not perfect; it's a lot better than it was three years ago."
Colligan gives credit to the excitement and interest generated by the 43North business competition.
"In a word, it (43North) re-brands us. It tells the world we're a good place for startups, to form, get funded, be nurtured and to be supported in the community."
Colligan refers to places like Silicon Valley and Boston as "brands" that have had success in attracting startup companies.
"We (Western New York) now have a brand. We never had that brand before so we are re-branded in a positive way for startup companies."
Colligan's work with startups is also gaining attention. This month, he was awarded the Community Catalyst award at the Upstate Venture Ecosystem Awards.