A total of 11 new companies affiliated with Buffalo University have joined Startup NY, the state-run tax-free incentive program designed to feed New York’s university ecosystem, according to the Buffalo News.
The businesses are expected to create 87 jobs and invest $1m in the Buffalo Niagara region over the next five years.
Since its launch in 2013, Startup NY has led to 157 businesses being established in the zones surrounding university and college campuses across New York state. The initiative grants 10 years of tax-free operation to companies setting up or relocating into university ecosystems around the state.
The 11 companies joining the Buffalo University system include surgical product manufacturer Atomic Medical Innovations; self-insured company software developer Burgio Health Alliance; and malaria detection technology producer Disease Diagnostic Group.
They also include research trial software developer Empirican Clinical Testing Services and charity financial security software company Letchworth – trading as Fiducia Solutions.
The remaining companies are social media platform for fundraisers Indago; contractor-focused financial software developer Painless1099; employment screening predictive analytics business Plum; digital marketing data provider Qoints USA; information security supplier Sedara; and speech recognition specialist Voiceitt.
Masonry business Spherical Block is moving into a zone tied to Alfred University, investing $1.6m and creating nine jobs. The company is the third approved for a tax-free zone in the region that is not affiliated with Buffalo University.
Partnering with the universities provides startups with access to research laboratories, development tools and academic experts across several industries.
