Three companies, including the 43North grand prizewinner and a Brazilian software developer, have been approved for Start-Up NY through their affiliation with the University at Buffalo.
The companies, which will relocate to, start-up or expand on or near UB's campuses, expect to create 40 jobs and invest $12,533,830 in the region within five years.
Each company has ties to the university's academic and research strengths. Each will collaborate with UB faculty researchers and students, and offer internships, scholarships or jobs to students.
"We are delighted to welcome these forward-thinking companies to Western New York, and UB looks forward to working with these newest Start-Up NY partners as we continue to build a thriving culture of innovation across our region and state," UB President Satish K. Tripathi said. "UB is proud to play a leadership role in this innovative economic development program, which is steadily attracting talented and pioneering entrepreneurs who want to be part of the exciting opportunities we're creating across the region. The addition of these three companies is a great example of that."
43North is the world's largest business plan competition and part of Gov. Andrew Cuomo's "Buffalo Billion" initiative. In October, judges declared Adiabatic Solutions (ASi) the contest's grand prizewinner. ASi was founded by Glenn Thomas, a UB engineering alumnus."
Start-Up NY stands for "SUNY Tax-free Areas to Revitalize and Transform Upstate New York." Created by Cuomo, the program aims to spur economic development by enabling universities to identify areas where new and expanding businesses can operate for 10 years without paying New York state business, corporate, income, sales or property taxes, or franchise fees.
Since Cuomo announced the program, 37 companies (including the three announced) have pledged to move or expand in the Buffalo/Niagara region and work with UB to further their respective business. The 37 companies plan to create 1,452 jobs and invest $45,122,422 in the region.
Note: CoachMePlus, which was accepted into Start-Up NY via UB in June, withdrew its application in February. The company planned to create 25 jobs and invest $770,000. These totals have been subtracted from the figures above.
The three new companies are:
•Adiabatic Solutions (ASi) - An existing business, ASi's rapid metal forming system aims to transform manufacturing by providing superior performing components that cost less. The process strengthens metals, which enable lighter and longer life components to improve the performance of engines, implantable medical devices and more. The company, which expects to create 27 jobs and invest $12,150,000, will move into the Thomas R. Beecher Innovation Center on the Buffalo Niagara Medical Campus. It intends to hire graduates from UB's School of Engineering and Applied Sciences and work with UB TCIE, which links UB's resources to the business community.
•DaStrong (formerly EcoBreeze) - A 43North winner, DaStrong has created fan-less cooling solution that 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. The company, which expects to create two jobs and invest $112,700, will move into the Beecher Innovation Center. It plans to collaborate with UB researchers and create internships for engineering students.
•Joox America - A software company from Brazil, Joox creates tools that allow customers to personalize paper and 3-D products. It is expanding into the U.S. by opening an office in UB's Gateway Building in downtown Buffalo. It expects to invest $271,130 and create 11 jobs. The company plans to work with UB researchers and hire engineering graduates.