BUFFALO, N.Y. (WIVB) – New companies are setting up shop with help from New York State, and 11 of them are creating jobs in western New York. They come with fascinating ideas, they just needed a break bringing those ideas to reality.
Eleven entrepreneurs have found the break they needed through START-UP New York. On Ellicott Street in the Medical Corridor, all kinds of interesting ideas are sprouting into companies.
MEET THE COMPANIES | See a list of the 11 companies sponsored by the University at Buffalo here
“In fact, my family and I have already moved here. We see a long-term potential in Buffalo,” said Peeyush Shrivastava, founder of Genetesis.
Shrivastava brings Genetesis from Ohio with plans to take an EKG to a whole new level.
Shrivastava said, “We’ve created a technology by which we can give physicians a much more granular picture of how the heart’s electrical signals are acting.”
Then there’s Energy Intelligence which is perfecting a way to harness the energy of a car slowing down.
Founder Daniel Shani said, “When cars drive over our system, they can generate electricity to power lighting or other equipment for example at a parking garage, or a toll plaza, or border crossing.”
In all, 35 companies are benefiting from START-UP NY. They agree to work with UB, and will pay no corporate taxes for their first 10 years. In fact, any new employees they hire will not be subject to state income taxes for 10 years.
Cloud 63 Founder Raj Suchak said, “”It’s fantastic, really amazing because it allows companies like ours to hire the best people, bring them over to the Buffalo area.”
Cloud 62 markets a software platform for businesses. Suchak explained, “We essentially help large companies solve tough problems.”
In UB’s Gateway Building downtown, a company called LED Spirit plans to bring 37 new jobs, selling high-efficiency four-foot light bulbs.
LED Spirit President Alcinda Miller said, “”The cost of lighting in New York is extremely high and our technology reduces the cost up to 85 percent.”