BUFFALO, N.Y. (WIVB) – Judges have selected 113 semifinalists to compete for more than $5 million in prizes as part of the 43North global business idea competition.
The competition is part of Governor Andrew Cuomo’s Buffalo Billion initiative. The governor’s office says 43North received nearly 7,000 business ideas, which were reviewed by 269 judges with various professional backgrounds.
The semifinalists are from as far away as India and Switzerland as well as California and Washington. Submissions are from a variety of economic sectors, including healthcare and biotechnology, information technology, life sciences, green technology, advanced manufacturing, education and logistics.
Semifinalists will present further details on their business idea in September and 11 finalists will be chosen to move on to round three.
There are more than $5 million in prizes, including the $1 million grand prize. Winners will also get free incubator space for a year to start and grow their businesses.