43North

Program Type: In-person
Location: Buffalo, NY
Investment: 1,000,000$
Equity Taken: 5%
Program Duration: 52 weeks
Stage: Seed
Industry of Focus: Agnostic

Key Highlights

Program Overview

43North is a Buffalo-based accelerator program focused on seed-stage startups, offering $1 million investments in five companies annually in exchange for 5% equity. Sponsored by Empire State Development, it provides immersive 12-month programming, mentorship, office space, and a robust network of resources aimed at fostering innovation and economic growth in Western New York.

Diversity, Inclusion, and Exclusion

43North does not discriminate based on race, color, creed, ethnicity, gender, disability, age, sexual orientation, gender expression, military status, or marital status. However, some business types are excluded, such as retail storefronts, gambling, entertainment establishments, and real estate syndications.

Investment Details

• Investment Amount: $1 million per company.
• Equity: 5% equity in the form of a warrant valid for 10 years.
• Staged Payment: Payments conditioned upon engagement metrics.

Benefits Details and Perks/Credits

• One-on-one mentorship from industry experts.
• Class A office space at Seneca One Tower, Buffalo.
• Access to a network of nearly 1,000 investors, corporate partners, and service providers.
• Recruiting, marketing, and fundraising support.
• Opportunity to operate tax-free through the STARTUP-NY program.

Program Format

• Online application process followed by multiple competitive selection rounds.
• Two virtual rounds and a live pitch during 43North Finals in Buffalo.
• Twelve months of programming with monthly meetings and mentorship engagements.

Location or Relocation Requirements

• Relocate the CEO and 50% of the staff within a 30-mile radius of Buffalo, NY.
• Residency required within WNYEDF Region for 12 months (commuting not acceptable).

Cohort Size and Program Frequency

• Cohort Size: 5 startups selected annually.
• Program Frequency: Annual.

Requirements Related to Users, Revenue, or LOIs:

• Established traction with paying customers.
• Already raised venture capital investments.
• Three or more full-time team members.

Post-Program Engagement

• Monthly business reports and meetings with 43North staff and mentors.
• Quarterly reports for five years following relocation.
• Participation in mentorship and social events organized by 43North.
• Engagement in launch events for the next year’s competition.

Company Types Requirements

• Seed-stage startups seeking outside equity capital.
• Excludes brick-and-mortar retail, real estate businesses, gambling companies, and entertainment venues.

Founding Team Preferences

• At least three full-time team members.
• Relocation willingness and commitment to operating in Buffalo.