43North is a Buffalo, New York-based startup accelerator that offers aims to attract and retain high-growth startups in Buffalo. And 43North invests $5 million into startups every year while offering founders a chance to secure $1 million in funding.
The companies gain access to a host of support services ranging from mentorship to connections to investors and inroads to customers. 43North generally looks for seed-stage startups that have a strong team in place, traction with customers, and received previous investment.
Since launching in 2014, 43North invested in 64 startups. And 43North’s portfolio companies have gone on to raise more than $1 billion with a $4.4 billion market value. With a unicorn and publicly-traded company among the portfolio ranks and several others on the rise, 43North co-invests with venture capital firms like Bessemer, Iconiq Capital, and Rise of the Rest to name a few.
43North told me that its ninth application is officially open and the program is excited to kick off the hunt for the next cohort of fast-growing startups who will join their vibrant community of founders and talented individuals here in Buffalo.
43North’s portfolio companies receive an investment of $1 million in exchange for 5% equity. And companies are required to relocate to Buffalo, NY for one year and work out of the 43North HQ where they’ll receive:
— One-on-one mentorship with experts in their field
— Class A office space in the newly renovated Seneca One Tower in Downtown Buffalo
— Access to customers, vendors, partners and an extensive network of nearly 1,000 investors
— Recruiting, fundraising, and marketing support from the 43North team
— The opportunity to operate tax-free as part of STARTUP-NY
After completing an online application, hundreds of applicants will be narrowed down through 3 rounds of a highly competitive selection process. The first two rounds are virtual and the third round is an in-person pitch on stage as part of the 43North Finals.
Five companies will be selected to receive a $1 million investment and join 43North’s accelerator for a year of programming.
This is the timeline of events:
— May – Online applications opened
— June – Online application will close on June 23, 2023.
— August – Virtual Video Pitches
— September – Diligence
— October – Selected applicants are going to be invited to Buffalo, NY for a week-long program of mentorship and in-person pitches – which will culminate in the 43North Finals. Then 43North will select the five companies that will receive investment and join 43North’s Y9 cohort. This year, 43North’s week will take place October 9-13, 2023.
— January 2024 – The selected companies will join 43North’s Y9 cohort in person at the Seneca One tower in Buffalo, NY, for a year-long program.
“At 43North, we know that startups need more than just funding to succeed. That’s why we offer a comprehensive accelerator program that provides so much more than just monetary support. Along with the opportunity to receive $1 million each, founders who join our ninth cohort will benefit from our unparalleled mentorship, connections to customers and investors, marketing and hiring support, free office space, and tax-free operation for up to a decade,” says the company website. “Do you think you have what it takes? We are searching for entrepreneurs with paying customers, a skilled team, and the ambition to grow their business in Buffalo, NY. If you meet these qualifications, we encourage you to apply for the chance to join our community of thriving startups!”
You can apply for the program at: https://apply.43north.org/login
