Construction is expected to begin in October on new incubator space for the 43North business competition on the Buffalo Niagara Medical Campus. Work on the $800,000 project, paid for by a grant from Empire State Development, is expected to be completed by the end of the year.
Officials from 43North and its partner agencies this morning officially announced the move of the business competition, a development reported by The Buffalo News last month.
The business competition and its winning companies are set to move into 10,000 square feet of space between the medical campus’ Thomas R. Beecher Jr. Innovation Center and the dig – short for Design Innovation Garage – co-working space.
The business competition now is housed in space in the Z80 Labs technology incubator, on the first floor of The News.
Final designs for the incubator space are likely to be finished early this month. The grant paying for the project is part of Gov. Andrew Cuomo’s Buffalo Billion initiative, and Buffalo Office Interiors is donating furnishings for the new space.
The 43North competition has whittled 2,603 qualified submissions down to a group of 113 semifinalists. Eleven finalists will advance to the third and final round of the contest. They will compete for prizes that include a top award of $1 million, and all of the winners must set up their companies in Buffalo for one year.
The contest is scheduled to continue for the next five years.