To be a successful entrepreneur in the cutthroat market of today’s world you are no longer able to just have a good idea and a hard work ethic to become successful. You need one thing, money, and lots of it.
Even though you thought you could get away with just a good idea and an innovative plan, you cannot that is simply not the case. Success is extremely hard to come by. Weather it is do to an extremely competitive field, a lack of interest in the topic or no one believes in your idea at first glance, the competition that was put together by 43 North was created with theses struggles in mind.
How You Can Get Involved:
This competition allows driven entrepreneurs the chance to pitch their idea to the judge’s panel and show just why they should be selected to receive a generous sum of money for the purpose of advancing their idea into a reality. With this in mind the competition is not only open to Western New Yorker’s but to those who are located throughout the world creating a deep field of competition that is full of next generation ideas that are just waiting to break onto the scene.
So what is required to enter this life altering program? It’s shockingly simple, all you need is a good idea and the ability to relay a well put together plan to a judges panel on how this prize money would help you become the next self made success story.
Reasons For Wanting In On This Competition:
it is not only for the prize money but for the how it can likely lead to other opportunities that can help you obtain even more funding and offer helpful advice offered by respected figures in your field. There have been many different examples of people that have not won the grand prize but would go on to partner with the likes of Mark Cuban and other successful businessmen.
Too many people have great ideas but will never have their voices and ideas heard. With competitions and platforms like the one 43 North runs more and more ordinary people are realizing their extraordinary dreams and becoming successful entrepreneurs.
Now that they are entering their third year into this competition we are starting to see just participants are benefiting over a longer period of time and how much of a positive impact this is having on companies and entrepreneurs alike.
Actual Results That Change A Company’s Projection:
- CytoCybernetics, has been accepted into StartUp NY and received $242,000 from the National Institutes of Health.
- Disease Diagnostic Group, was accepted into the StartUp NY program.
- Infonaut, has raised $2.8 million and partnered with Knowles in the United Kingdom.
- Painless1099, was named a Top 10 finance and capital start-up on the Brilliant 100 list.
Without the exposure that these individuals received from the 43 North challenge they would not be able to have reached their current level of success in such a short amount of time.
In exchange for the prize money the top ten companies receive, they must agree to stay in the buffalo area for at least one year. With the hope that all companies will stay in the cities vicinity and continue to grow and prosper with the more business friendly market that New York State has set up. With the likes of the StartUp New York program there are many opportunities for business to set up and take advantage of the business landscape offered. They can save on taxes and in return the idea is that they will be able to hire new skilled workers to help grow and strengthen the labor force and job opportunities in the grater Buffalo area.
Buffalo will have new job opportunities but the even bigger benefit for the city is that all these companies are from all over the world and would have never even thought about bringing and growing their business in and around Buffalo. When they see just what we as a city have to offer the hope is that they will stay and help grow the local economy with the latest and greatest technology and business models.
So far the only group we can draw any results from are the first round of winners. Out of that group six out of the eleven winners have stayed in the buffalo area. That might not seem like a whole lot but when you think, if only one of these companies really takes off then its not unreasonable to think that these entrepreneurs can create hundreds of high paying, skilled jobs.