The Toronto Star is prompting Canadian entrepreneurs to jump into the Buffalo start-up game. The 43North business competition, which was implemented to jumpstart business in downtown Buffalo (though not retail or hospitality), has attracted the attention of believers that are touting the benefit of entrepreneurs looking at markets within close proximity to each other (especially ones that are offering incentives such as free incubator space).
In true TorBuffChesterTon Falls spirit, the $5 million business plan competition, funded by the NY Power Authority, could just be the spark that lights a fire between the Canadian and Buffalo business economy. While the competition does extend a lot further than Toronto, close neighboring entrepreneurs could be our best bet due to proximity, although the cross border details would still have to be ironed out.
The end goal for Toronto would be to increase the overall number of start-ups in the entire region (something that could benefit the city as businesses from outside the region take root), offer Toronto businesses a secondary market to grow, or even give Canadian entrepreneurs a chance to break into the US market.
If nothing else, the conversation has been started, which is something that we all hoped would happen for years.
Here’s the article from The Star.