Five companies tied to Buffalo University join the tax-free Startup NY zone.
Five new companies with links to Buffalo University are set to take advantage of the tax-free university business friendly Startup NY zones.
In total, the firms are estimated to create 245 jobs and invest $4.86m in the Buffalo region over the next five years.
Since being announced in 2013, the Startup NY initiative has seen 53 new firms set up in the zones surrounding university campuses across the state, which grants 10 years of tax free operation to startups or firms relocating into university ecosystems across the state of New York.
The five firms joining the Buffalo ecosystem are: holistic and mindfulness online marketplace startup Bodhi Seven Corp, medical media network Chronicle LifeSci which is relocating from Toronto, database startup Dooli, Buffalo life sciences spinout Enhanced Thermodynamics, and original equipment manufacturing firm Postprocess Technologies.
Venu Govindaraju, UB interim vice president for research and economic development, said: “The addition of these new and exciting businesses to START-UP NY further proves that the Buffalo Niagara region is the smart choice for budding and experienced entrepreneurs. The University at Buffalo has the faculty expertise, equipment and resources, and human capital to help startup companies succeed. In turn, the companies provide hands-on learning to our students and jobs for our graduates.”
