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Startups compete for million dollar grand prize

Three startups competing from Buffalo
Posted at 10:55 PM, Oct 05, 2017
and last updated 2017-10-05 23:13:17-04

A team of entrepreneur is now $1 million dollars richer, following the finals round of the 43North startup competition.

Formed as part of the Buffalo Billion Initiative, 43North awards $5 million dollars to eight startups and gives them access to the free work space for a year.

SomaDetect was chosen as the 2017 grand prize winner. The company creates a sensor that dairy farms use to monitor milk quality the moment it's pumped.

With their million dollar investment, the company, from New Brunswick, says they will bring 25 jobs to Western New York and an additional 35 the following year.

“There are a million cows here in New York and that's the same number as across Canada, and so it makes a lot of sense for our company to be positioned in Buffalo and to be here for the long run,” said Bethany Deshpande, CEO of SomaDetect.

SomaDetect beat more than 500 other startups to win the million dollar prize.

The top eight finalists receive at least a $500,000 dollar investment. Some of those companies include Squire, who have developed a Barbershop app, and Suncayr, who have made an wearable indicator that lets you know when to reapply sunscreen.

Three companies from Buffalo made it into the top 16.