Buffalo, NY, November 4, 2014 – Rich Products Corporation served as lead sponsor for 43 North’s award ceremony and reception held on October 30 at Shea’s Theater in Buffalo, New York.
The 43 North business development program, part of New York Governor Andrew Cuomo’s “Buffalo Billion” initiative, provided a total of $5 million in cash prizes to 11 companies that advanced to the final stage after several rounds of judging and pitching to a renowned panel of investors and industry leaders. The winners also receive free incubator space in Buffalo for a year as well as access to mentors in their fields.
“One of our core values as a company is ‘Innovate … Imagine what’s possible and create what’s valued.’ This value certain reflects the entrepreneurial spirit each 43 North finalist exhibited throughout the competitive selection process,” said Dwight Gram, Rich’s Vice President of Corporate Communications. “Rich’s congratulates the 43 North leadership and staff for creating a unique and rewarding campaign that brought great attention to the city of Buffalo, and we wish the 11 winners much success as they begin their journey as members of our community.”
As a lead sponsor, Rich’s provided funding, in-kind catering food and services for the awards event, advertising support for the program, and leadership blogs for the 43 North website.
The competition generated 6,932 submissions from 96 countries and all 50 states. At the awards ceremony, Lieutenant Governor Robert Duffy announced that ASi, LLC, based in Tonawanda, N.Y., was the winner of the competition, receiving $1 million in funding to grow the company locally. The company developed a rapid metal process that produces more durable components for engines and medical devices at a lower cost than overseas competitors. Six runner-up companies were awarded $500,000 and four other finalists received $250,000.