Three more companies from the Buffalo Niagara region – including 43North contest winner ASi Inc. – have been accepted into the state’s Start-Up NY program that allows new and growing companies to operate virtually tax-free for up to 10 years.
Adiabatic Solutions, commonly known as ASi, is a Town of Tonawanda metal forming company that won the $1 million grand prize in the 43North business plan competition last year. The company, which will have an office in the 43North incubator facility on the Buffalo Niagara Medical Campus, is pledging to create 27 new jobs and invest $12.1 million to build its business over the next five years.
ASi said it intends to hire graduates from UB’s School of Engineering and Applied Sciences and work with UB’s Center for Industrial Effectiveness, which links UB’s resources to the business community.
DaStrong Corp., another 43North prize winner, also was accepted into the program. DaStrong, which was known as EcoBreeze during the 43North contest, is developing a next-generation cooling fan for electronic equipment. The company, which also operates out of the 43North incubator in the Thomas R. Beecher Innovation Center, has pledged to create two new jobs and invest $1.63 million. DaStrong plans to work with UB researchers and create internships for engineering students.
Joox America, a company that was founded in Brazil during 2013, is pledging to create 11 new jobs and invest $271,130 in its New York operations. The company is developing a cloud-based platform that allows a client or a company to choose any object or product to be customized online. Joox will operate from the University at Buffalo’s Gateway Building in downtown Buffalo. Joox said it plans to work with UB researchers and hire engineering graduates.
The three local companies were among 11 new businesses that have been accepted into the Start-Up NY program, which allows participating firms to operate virtually free from any state and local taxes in sites with ties to the state’s colleges and universities. In all, 83 companies have been accepted into the program, with 37 of them having ties to the University at Buffalo. Those 37 companies have pledged to create 1,452 jobs and invest $45.1 million in the region, UB said.
One company that previously had been accepted in the Start-Up program in June 2014, CoachMePlus, dropped out in February, UB said. The company, which makes software to help coaches track athletic performance data, had planned to create 25 jobs and invest $770,000.