43North's $1 Million Investment Opportunity

Being born and raised in Buffalo, NY, I have always loved my hometown city. If you are curious about why, I recommend you check out “The Incredible History of Buffalo, NY In 5 Minutes”, which I shared in the Huffington Post a few years ago.

Scott Wayman of Kangarootime, after winning 43North in 2017

In 2014, Buffalo started 43North, investing $5M per year to attract and retain high-growth companies in Buffalo, NY. Fast forward to 2017, and after meeting Scott Wayman, the founder of Kangarootime, at a Founder Institute event in Silicon Valley, I recommended the company to 43North. Kangarootime ran with it and crushed it. First, securing an initial $500k investment from 43North, and then subsequently more follow on funding. They have since grown a significant presence in Western New York and continuing to build a great company! 

Then in 2018, one of my Founder Institute New York portfolio companies, Teddy Mozart, received a large purchase order from QVC. A massive break, but they needed help financing the inventory to fill the QVC order. Carlton, the founder, told me he found Kickfurther, which secures inventory funding via their marketplace of investors. Through Kickfurther, Teddy Mozart managed to get the funds needed to fill the QVC order in less than 72 hours! I told this story while helping to deliberate the final investment decision in 2018, and I like to think it helped play a role in Kickfurther joining the 43N portfolio that year! 

Now in its seventh year, the competition offers eight new startups a chance to secure up to $1 million in funding and land a spot in 43North’s next cohort. I have joined the team to help select this year’s companies, and we are currently accepting startup applications for $500k to $1m in investment until July 19th! Investing in founders with deep domain expertise and early traction for their high-growth startup! 

If you or someone you know might be a good fit, visit 43 North to apply, or feel free to text me at +1 (646) 907-6669 if you would like to connect directly about the opportunity!

EO Global Chairman Brian Brault On Investing In Community And Yourself

Brian Brault, Chairman of the Board at Entrepreneurs' Organization

Today we have the pleasure of speaking with Brian Brault; a successful entrepreneur that has been recognized twice in his career by the Inc. 500 for building one of the fastest growing companies in America. Currently Brian is the Global Chairman of the Board at Entrepreneurs' Organization.

He is also the founder of Advanced Facility Services and Pure Rooms which was deemed one of the best companies to work for in western New York and was awarded best entrepreneurial company in western New York.

A graduate of the University of Buffalo’s School of Business, Brian is very active on community boards. Being the Global Chairman for Entrepreneurs’ Organization Brian helps grow their network of 12,000 entrepreneurial members in 54 countries. He believes in surrounding yourself with strong people because your success is a product of the five people that you spend the most time with. Today Brian talks about:

• What got him excited at a very young age to be an entrepreneur

• How he build Advanced Facility Services & Pure Rooms

• Why he supports Entrepreneur’s Organization globally

• Do you need to be in a major market like NY to be successful?

• His speech at the United Nations

• The importance of community for founders

• His 10/10/10 morning routine

Ambition Today Question of the Day™:
"What routines have you built in your life that contribute most to your success?"

The Single Greatest Piece of Advice Brian Has Ever Learned:
Join the Ambition Today A-list to listen now!

Quote Of The Episode:
“Everyone has a little bit of entrepreneurial spirit inside them it's just your tolerance for risk and how that is nurtured in your life will really determine how much you will pursue and build on that entrepreneurial spirit.”

Links from this episode:

• Brian Brault LinkedIn

• Brian Brault Facebook

• Entrepreneurs' Organization

• EO + UN

• Pure Rooms

• These Precious Hands - Book

• WeWork

• Founder Institute

Listen to this episode now: 

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Thank you so much for listening and applying these useful tips and strategies to your life! If you have a chance, please drop by and leave a review for the show on iTunes by clicking here. Also, who should I interview next? Please let me know on Twitter or in the comments. Do you enjoy this podcast? If so, please leave a short review in the comments below. It keeps me going…

You can find the full transcript of this episode here. 

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The Night Pokemon Go Took Over The Suburbs & The Police Came

I started writing this at 1:40am on Friday night in the suburbs of Buffalo, NY. My brother and I were just pulled up on by State Troopers in a church parking lot for being there late. We stopped by this parking lot on our way home. This was no ordinary parking lot though. This parking lot contained a Pokemon gym.  The officer came up to us and asked for identification. We gave him our driver's license and he ask what are you doing here this late. I replied: "Officer, do you know what Augmented Reality is?". He gave me a strange look and said "nope". Fast forward a few minutes later to after my brief lesson on Augmented Reality and the new game Pokemon Go, he told us to have a nice night and left.

Prior to this encounter with the law enforcement my brother and I were outside a local Chili's restaurant, another Pokemon Go gym, when three cars pulled up simultaneously. One guy got out and screamed, there is a Squirtle around here. While he began searching for the elusive rare Pokemon by walking around the parking lot, the others who were still in their cars, began attacking the "Big Red Chili Pepper" gym. Within two minutes the gym changed from Yellow to Red (two of the teams you can join in the game) as it was overtaken by a new champion. Five minutes later, they left. If your not on the move in Pokemon Go then your not really playing Pokemon Go. 

Even earlier in the evening, down the street, a different car pulled into the United States Post Office to capture another Pokemon gym. They saw our phones out, we saw their phones out and so said we said Hello to each other. It turns out that they were actually some old friends of my brothers through a friend of a friend. They exchanged numbers and agreed to re-connect again soon. Pokemon Go re-connected old friends on a sidewalk outside a United States Post Office. 

Now since Friday at 1:40am when I was explaining to a State Trooper what Augmented Reality is, I know similar stories have been told thousands of times as similar situations unfolded across the world. I am sure you have heard by now that Pokemon Go is a new augmented reality app that makes you and your phone (using it's built in GPS) the main character as you walk around the real world to find and capture Pokemon. It is not the first augmented reality game but it is certainly now the most popular.

It's truly amazing just how fast this game has gone viral considering not once inside the game is there a prompt to invite a friend or get some free game items for sharing. The virality of Pokemon Go has been almost all organically social and word of mouth. 

Since the mid 2000's a new world of tablets, iPhones, improved gaming systems, and more have slowly been keeping us in our routines. I love that this game get's people back outside, connecting with others on the street, and exploring the parts of the world their normal daily routines ignore. Yes, Pokemon Go could improve the whole head down toward the ground like zombies staring at our phone thing, but we will get there soon enough with improved technology. I'm looking at you Oculus, Samsung Gear VR, and Microsoft HoloLens. 

I wanted to share this story and experience as it felt truly unique to me. That night in the suburbs, people were out and about exploring the world instead of sitting inside somewhere. There was an energy in the air that night in the suburbs. An energy that you can easily take for granted living in a big city that never sleeps like New York. It was refreshing, light hearted, and fun. So before others try to ruin the fun, get out there and catch some Pokemon. If you can, catch them all, and while your at it remember to pick your head up from time to time to say Hi the other people around you. 

Moving To New York City

New York City. The Big Apple. The Nexus of the Universe. Whatever you call it, it is one of the most unique places on earth and 8.4 Million people call it home. Many of those people moved here from other places in order to pursue their dream. New York City is the promise land of opportunity in the United States. Moving here however is no easy task. Getting a job in New York City without living here makes it next to impossible to get called in for an interview and securing an apartment in the cities crazy real estate market is a whole new world within itself. The city is expensive, the city is unforgiving, and the city is challenging. 

While living in Buffalo I knew that I wanted to move to New York City and that I wanted to get involved with startups there. I applied to jobs for months before actually moving to New York City. The call's I got back for an interview were to come into the office in a day or two, but I was still 600 miles away in Buffalo. I needed to be closer if I was going to make any progress. I flew to New York City on a day in July with Colleen to try and get us an apartment, but we quickly learned we couldn't get approved in a nice building without a job. After viewing a dozen apartments with a broker we finally got approved by a building. We were quickly educated that being as this was July, where apartments can come on the market in the morning and be immediately off the market after lunch we had to decide fast if we wanted an apartment or not. We took it; real estate broker fee, deposit and all. 

A month later we moved to New York City. After struggling just to get into the city I still had to find a job though. I ran out of money shortly after moving to New York City and ended up having to sell my car, which I had payed off while working bartending jobs during college. That only bought me a few more months of runway though. So I took a bartending job that I was able to get through a friend of a friend in Buffalo who happened to do some business in New York City (See Buffalo really is the "The City of Good Neighbors"). The bartending job was part time and still wasn't enough. Again, I was slightly better off than before but not by much. So I took a second job freelancing and working remotely online in the early mornings, writing for a tech website. I was still applying to potential full time jobs and taking interviews in my spare time. The cycle became that I would work bright an early in the morning, then apply to jobs and interview during the day, and finally bartend at night. Repeat. Repeat. Repeat.

I remember distinctly getting down to $20 in my bank account at this time while I would be waiting for my next paycheck to come in from either of the jobs. I was very close to having to move back to Buffalo. After months of this I finally got a full time job offer out of one of the interviews. I still remember being out to lunch. Colleen and I had company in town visiting us. We were talking about how life in New York has been treating us so far while eating cheeseburgers and I got a phone call. It was my future boss saying that the company would love to hire me and asked when I could start. It was an entry level job but it was enough that I could break even, pay my full rent, student loans, and live in New York City. Since that day, there have been hardships and challenges of course, but I am here. I live in New York City. Casey Neistat last year told a very similar story of his struggle in moving to New York City. How moving here can eat you alive and strip you of all your resources in the process. That even just getting set up to live in New York City is one of the greatest challenges people face. 

He explains at the end of the video how it has all been worth it though. How for him the opportunity has out weighed the tremendous cost of moving to New York City in the first place. I have to agree. The opportunities the city has afforded me since then have been tremendous. I get to experience new products, stores, movies, foods, services, and crazes in New York City long before people in other parts of the country. So many experiences. I am always surrounded by ambitious and motivated people here. I feel privileged and love what I get to do now with startups. It was not easy though. So as you can see there is a reason Sinatra once said if you can make it here, you can make it anywhere. 

Yahoo's Katie Couric Features Buffalo In "Cities Rising: Rebuilding America"

Katie Couric recently paid a visit to Buffalo New York for her new series "Cities Rising: Rebuilding America". Since visiting the region she now states that "Buffalo Is Back!" with part 1 of her new series. The goal of this six part series is to highlight key cities in America that were once thriving, then fell on hard times during the last 100 years, and are now being rebuilt into the 21st century.

I am really proud of all the great people in the Buffalo region working hard to improve the local startup ecosystem. Some of the people in the Buffalo startup community that I been working to make an impact in the last year include:

• Steve Poland
  • Managing Director of Z80 Labs
• Michael Serotte
  • Immigration Legal Partner at Unshackled Fund
  • Founding Partner at Serotte Law
• Dan Gigante
  • Digital Director, Partner at 19 IDEAS,
  • Founder & President at You and Who
  • Director of Founder Institute Buffalo
• Jon Spitz
  • Director of Development at 43 North
  • Director of Founder Institute Buffalo
• Peter Burkowski
  • Director of Marketing at 43 North
• Oscar Pedrosa and David Brenner
  • Thimble
• And Many More

I know I have written about the surge of entrepreneurship in Buffalo before as well as its incredible past history, but I really am excited for the future of my hometown Buffalo, NY. I am proud to say I am from Buffalo. Be sure to watch part 1 on Buffalo in Katie Couric's series "Cities Rising: Rebuilding America" above.

Clark Dever of Heads Up Display Talks Wearables, Travel, and Elon Musk's Solar City in Buffalo on Ambition Today

On this episode of Ambition Today, I was joined by Clark Dever. Clark is the founder of Head Up Display, a visual notification system for workers in hazardous environments. 

Today we discuss how to travel the United States of America for only $600, the future of e-sports entertainment, and how to compete with Google Glass and Oculus Rift. Also, how do you grow a startup ecosystem out of a an industrial renaissance? Buffalo N.Y. may have the answer. Elon Musk's Solar City, ecosystem driving programs like Z80 Labs and 43 North, and affordable cost of living are some of the things driving Buffalo forward as a startup city. 

Be sure to listen and subscribe to Ambition Today in the iTunes Store for iOS and on Stitcher for Android. 

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Entrepreneurial Spirit Is Driving Buffalo Forward

In recent years, much has been made about how the entrepreneurial movement is modernizing the American dream. Markets like San Francisco and New York City are home to some of the world's most recognizable startup success stories. And with good reason - being the top dog in a competitive market brings with it the advantages of recruiting top talent, visible press, and the ability to raise the innovative bar. But as billion dollar companies set up shop in big markets, a new generation of innovators is turning to midmarket cities to incubate their bold ideas. Cities like Buffalo, NY are making this possible. Buffalo is channeling its legacy of hard work - dating back to its heyday as a turn-of-the-twentieth-century giant - into a new push for entrepreneurial progress. Satish K. Tripathi, co-chair of the Western New York Regional Economic Development Council, and President of the University at Buffalo, perhaps said it best. The city is "open for business."

Taking a step back, Buffalo's innovative future is rooted in its time-tested work ethic. Last December, I reposted a video that discussed Buffalo as a city of firsts. From Frank Lloyd Wright to Theodore Roosevelt, the city boasts an impressive list of big thinkers with lasting impact. Of course, the city has experienced more than its fair share of setbacks. Following the 1950s opening of the Saint Lawrence Seaway, shipping and other industries moved elsewhere, businesses went vacant, and population decreased.

But today a number of trends indicate that the city is positioned for an entrepreneurial resurgence.

• A New Youth Movement - According to census data analyzed by the New York Times, from 2000 to 2012 the number of college graduates (ages 25-34) in Buffalo jumped 34 percent - more than Los Angeles, New York, Chicago, or even Boston.

• An Attractive Business Destination - A number of factors including access to an international border, a strong labor force, and low operations cost are gaining attention. Elon Musk's SolarCity made headlines last September with its announcement to commit 5 billion in Buffalo, while creating 3,000 new jobs. Beyond U.S. borders, a growing number of Canadian companies are also investing, leading to an even stronger startup corridor in the Golden Horseshoe - the densely populated region on the west end of Lake Ontario, stretching from Buffalo to Toronto .

• Renewed Sports Franchises - Not to be overlooked, Buffalo is also attracting new talent on the football field and in the hockey rink. The Bills and Sabres - arguably pivotal economic and emotional heartbeats of the city - are sporting new leadership with owners Terry and Kim Pegula and with the recent head coach hires of Rex Ryan and Dan Bylsma.

Within this movement, a number of newer companies face challenges of raising capital. To address this, organizations like 43North are incentivizing companies from around the world to incubate their ideas in Buffalo - with the potential to win up to $1 million. With support from New York State Governor Andrew Cuomo's Buffalo Billion initiative and the New York Power Authority, there is heavy commitment and high stakes in the organization, which last year received registrations from 96 countries and 50 states. The 11 winners from 2014 now share space in a new incubator at Buffalo Niagara Medical Center - specifically created to engage a collaborative entrepreneurial community.

As they wrap up registration this month, 43North wants to continue the momentum by focusing on quality global registrants to attract the best ideas the world over. This concept of exacting change through entrepreneurism is what's driving Buffalo forward. It's a bold venture for a city to bet on bright ideas and put them into action. But it's a critical step, with potentially high reward, in restoring the brightness to America's City of Light.

The Incredible History of Buffalo, New York In 5 Minutes

43 North, the world's largest business idea competition, has released an awesome new video chronicling the amazing history of Buffalo, New York. The video titled "Next Things Now: Innovation & Entrepreneurship in Buffalo" summarizes all that Buffalo’s history has given to the world and as well as a hint of whats possible in the new era of One Buffalo. Check it out below:

Co-authored by The Herd Report

Why in 2014 Buffalo is a (Sports Teams) Dream Location

As we know, in other places across the planet Buffalo does not always have the best reputation of itself. Our sports teams are at times laughed at and our economy is well, lets just say “rust belt-ish”. While I cringe every time I hear these claims shouted at my hometown it is hard to deny they are not sometimes routed in truth, especially for the first decade of this new millennium.

Now Buffalo seems to be divided. There is the first faction who faithfully follows where ever the city and its teams lead them. They sell out one of the largest football stadiums in the nation even as the Buffalo Bills missed the playoffs for the 14th season in a row. Then we have the other faction. This consists of those who have fallen out of the former group. Those people who due to the process of constant disappointment have fallen victim to a mood of permanent and lasting skepticism.

I do my best to stay up to date with the happenings and news in Buffalo while watching everything develop from New York City. Lately it has begun to appear to me (a person living in the world outside WNY, looking in) that the winds are changing in Buffalo. Slowly, sometimes slower than I would like, it appears things are turning around for the better in Buffalo.

Investors will tell you to never ignore a market when it is in a recession. That is when you can buy in at a time when the market has currently undervalued its goods. Goods can only become so cheap in a region before investors see growing opportunity to buy in at the bottom level and maximize potential profits. This is what appears to be happening in Buffalo. Forbes recently validated this is the case in the Western New York Region when it named Buffalo the Most Affordable City in America.

HARBOR CENTER

A few examples: recently 43 North has launched a $1 million dollar prize to attract start ups to fill the cheap and available office space downtown. Avant Buffalo has spent $85 million building up luxury condos and office space. Gov. Andrew M. Cuomo has pledged the Buffalo Billion to the Region.Chippewa Street is becoming classy. And to get to my point, Terry Pegula has bought the Buffalo Sabres and is now also building the Harbor Center.

As Warren Buffet says “Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”. Terry Pegula knows this is and is doing what all the rest of the investors are doing in Buffalo. He saw a market opportunity to buy in at an all time low price and did just that. Just as many smart investors, who are now very rich, did just after the .com and housing bubble’s burst.

““Be Fearful When Others Are Greedy and Greedy When Others Are Fearful”
”

— Warren Buffet

 

In the case of Forbes naming Buffalo the most affordable city in America we can see that might not be the best image for Buffalo currently. The most powerful cities tend to correlate with the most expensive ones. Just visit New York City or London. However, this weak perception can also be a strength. Just ask Malcolm Gladwell who’s new book underlines the advantages and importance of being under rated. It is definitely a sign that the opportunity to invest in the region is happening now and investors recognize this. This affordability can be an opportunity for Buffalo Sports too. A great example of this was recently pointed out by Buffalo Down:

• Players can live like royalty in Buffalo for far less than most NFL cities.
• $7 million in Buffalo is like $9 million in Houston, or Dallas, or pick your “Big Market Team”.

So affordability gives us the potential opportunity to attract bigger talent at lower contracts.

Buffalo now finds itself where it lives best; as the Underdog. Terry Pegula bought in on the ground floor and stands to make a lot of money over the next 20 years, while his investments ride out. The best part of this is that he will most likely bring the city and the teams along for the ride with him. We are at a catalyst moment in Buffalo. The key to making the opportunity ahead of Buffalo have a long lasting and perpetual growing impact is that we all get on board and realize it is happening. There can be no more skepticism and false beliefs. Now is a time for action.

So in the next few months as you live in Buffalo, do yourself a favor and look around. Take it all in and remember the Buffalo of now. I believe after years of watching Buffalo just get by, both economically and in the world of sports, it is time we all stop just circling the wagon and finally get on board full speed ahead!