Technology companies are sprouting up again in Buffalo … but will the investment climate support them?
Synacor, a vendor of online services, has filed a registration statement with the U.S. Securities and Exchange Commission, signaling its intention to sell stock to the public at some unfixed date.
But another tech company, NanoDynamics Inc., announced this month that it postponed its initial public offering because of "unfavorable market conditions."
The stock market's plunge has knocked the wind out of many potential IPOs, market watchers said. When they will be completed is anyone's guess, as investor jitters continue.
Synacor seeks to expand its business of running portal sites for big Internet providers. NanoDynamics wants to gear up production of its high-tech water filters and fuel cell power generators.
A surge of start-ups have opened their doors here in recent months. Though they may be far from launching a public stock offering, if ever, they may need some form of investment as their growth plans unfold.
A spin-off from Roswell Park Cancer Institute has announced plans to work on a cure for prostate cancer, focusing on the cellular mechanisms that support tumor growth. AndroBioSys was the third research spin-off from the cancer institute so far this year.
In the Internet space, a company called Foupons.com is rolling out its restaurant information service nationally, with the help of former Infotech Niagara director Christine Plowucha.
What do you think about the emerging local tech industry? Does it hold promise for future economic growth?
-- Fred O. Williams