The competition seeks innovative and ambitious startups with scalable business ideas to submit applications. Applicants are up for cash rewards up to $1 million for the first prize winner, an incubator space, mentorship and access to start-up NY, a state tax-free offer for a period of 10 years.
“Winners agree to locate in Buffalo, NY for a minimum of 12 months; 43North also takes a 5% equity stake in each of our winning companies,” 43North says on its website.
The competition is open to entrepreneurs from all over the world that are above 18 years. Applications preclude entrepreneurs in retail and hospitality. Last year, the competition got 6,932 applications from 96 countries and the US.