Governor Cuomo announced Wednesday that twelve companies are coming to New York State as a result of START-UP NY. Eight of those businesses are locating in START-UP NY zones in Buffalo.
The companies are in the software, biotechnology, medical technology and R&D fields and will create 200 jobs locally. Cuomo says the twelve total businesses are projected to invest $50 million in tax-free areas across the state.
“I know it was a long time coming and I know there were a lot of bad years in Buffalo. I know there were a lot of bad decades in Buffalo. I know it got depressing, and it got gray and it was hard to believe again. Today is a different day and this is a different Buffalo and the best is yet to be,” said Cuomo.
The eight businesses are sponsored by the University of Buffalo and most of them will be located in downtown Buffalo, one will be stationed on UB’s Amherst Campus. UB President Satish Tripathi says START-UP NY is an innovative way to connect the strengths of a major research university with the expertise of entrepreneurs and business people.
“All of the eight companies that we have here they really are going to work with the UB faculity and students. They're going to hire interns and they're going have joint research programs. It's really good to have that kind of relationship and I think that's going to keep them expanding and investing in western New York," said Tripathi.
Tripathi says 40 percent of the eight companies are moving to the city from other states. START-UP NY allows companies that locate on SUNY campuses and not pay taxes for ten years. Those businesses employees will also not pay income tax for five years.
The START-UP NY businesses include:
Aesku NY, Inc. is a spin-off of AESKU.DIAGNOSTICS, based in Wendelsheim, Germany, a research-focused supplier of innovative and efficient products and services for the early detection, diagnosis and prognosis of autoimmune diseases. The company will be new to New York State and locate at the University at Buffalo downtown campus (Gateway Building). The company is also part of NY Genomic Medicine Network, and will invest approximately $2.8 million.
ClearView Social, Inc. is a development stage software company that is developing a social media application for the legal services community. Clearview is currently operating in the University of Buffalo’s Z80 Lab at One News Plaza and will be expanding to the University’s Gateway building. The company will invest approximately $925,000.
CoachMePlus (Virtuvia, LLC) is a development stage software company that has developed a web-based application aimed at helping coaches and trainers organize data they collect about their athletes. CoachMePlus, currently operating at the University at Buffalo’s Z80 Lab at One News Plaza, will be expanding to the University’s Gateway building. The company will invest more than $775,000.
Decision Pace, Inc. is a software development company that provides data analytics web software to medium to large businesses that allows for immediate and high-value visualization of company information. Decision Pace is a graduate of the University of Buffalo’s Z80 Lab at One News Plaza and is expanding to the University’s Gateway building. The company will invest approximately $370,000.
Heads Up Display, Inc. is an early stage high-technology company that creates products to enhance industrial safety; the company engineers hardware devices and develops software that will provide additional layers of protection for employees that work in dangerous environments. Heads Up is a new business locating in the Z80 Lab at the University of Buffalo’s One News Plaza.
Lineagen, Inc. is a biotechnology company that is focused on commercialization of diagnostic testing methods for identifying genetic variations known to be associated with autism spectrum disorder and other developmental delays. The company will expand its test to improve personalized medicine in the areas of drug suitability for multiple sclerosis patients and deterioration rates for chronic obstructive pulmonary disease; and is a new business that is locating at the University at Buffalo’s downtown campus (Hauptman Woodward Institute). The company is also part of the NY Genomic Medicine Network and will invest approximately $55,000.
Nupur Technologies, LLC, is a research and development medical device company that is developing a device to clear blockages in the ear. The company is a new business that is locating at the University at Buffalo’s Baird Research Park. The company will invest more than $862,000.
Sinapis Pharma, Inc. is an emerging pharmaceutical company that is developing a novel drug for the treatment of traumatic brain injuries (TBI) and strokes. Sinapis is a new business that will be locating at the University at Buffalo’s Center of Excellence in Bioinformatics. The company will invest approximately $600,000.
The governor also announced Tuesday that a new ‘Information Technologies Innovation and Commercialization Hub’ will be created and housed at Key Center in downtown Buffalo. IBM has officially agreed to be the anchor tenant in the hub, bringing 500 new jobs to the city.
The hub is being funded with $55 million through the Governor’s Buffalo Billion Initiative. The new hub will assist with training IT professionals and educate staff through partnerships with the University at Buffalo.