Bright Forum Brings Great Lakes High-Tech Investors and Entrepreneurs to Buffalo for a Day of Networking and Deal-Making

BUFFALO, N.Y. -- Bright Buffalo Niagara, a high-tech initiative re-launched earlier this year, brought Great Lakes investors, entrepreneurs and community leaders to Buffalo on June 9 for the Bright Forum -- a full day of networking and deal-making across the life sciences, energy, IT and advanced manufacturing sectors.

Known as the Explore Buffalo Niagara Investor and Entrepreneur High-Tech Forum during the past two years, the Bright Forum took place at the Albright-Knox Art Gallery. Major sponsors included the University at Buffalo, UB's New York State Center of Excellence in Bioinformatics and Life Sciences, and Superior Group.

This year's event featured investor presentations by high-tech entrepreneurs and start-ups seeking to raise funds, along with a panel discussion on successful cross-border deals pairing investors and companies from the U.S. and Canada.

Hatim Tyabji, chairman and CEO of Bytemobile Inc. and a UB alum, delivered the keynote address. Others scheduled to give brief remarks included Niagara Falls Mayor Paul Dyster, Erie County Executive Christopher C. Collins and UB President Satish K. Tripathi.

Companies from across the Great Lakes region, including some from Southern Ontario, attended the forum, which drew hundreds of participants. A list of businesses that delivered investor pitches is available online at http://bit.ly/brightforum.

Of more than 50 companies that applied to present, 15 were selected to give one-minute pitches to an elite audience of investors and business leaders, while 12 were asked to prepare 10-minute presentations showcasing deal opportunities.

The Bright Forum seeks not only to give start-up companies a chance to present products and ideas to investors, but to help investors, entrepreneurs and community leaders make the connections they need to establish long-term relationships and build a stronger entrepreneurial ecosystem in the Great Lakes region.

"Connecting good investment opportunities with interested investors is one of the most important parts of what's now become known around the country as Technology-Based Economic Development," said Marnie LaVigne, director of business development at UB's Center of Excellence. "Building this new high-tech economy is what our mission is all about at the Center of Excellence, and we're so fortunate to have partners across an expanding region to collaborate with us on initiatives like the Bright Forum."

Besides organizing the Bright Forum, Bright Buffalo Niagara hosted two workshops in May for investors, entrepreneurs and other professionals hoping to learn about angel investing and trends in raising capital.

The community-driven initiative, led by the Center of Excellence, grew out of the High-Tech Forum. The initiative brings academic, public, private and nonprofit organizations together to promote early-stage investments, quality deal flow, business partnering and related entrepreneurial activities in various high-tech sectors throughout the Great Lakes region.

Since its launch in 2009, the High-Tech Forum, rebranded this year as the Bright Forum, has promoted the development of increasingly strong, cross-border relationships between investors, entrepreneurs and community leaders.

As a result of the momentum created by the forum, the local angel investor network has doubled in size since 2009 and formalized association nationally through membership in the Angel Capital Association. Several presenting companies have made significant progress in their fundraising efforts.

The forum and associated activities have also raised awareness about the need for early-stage funding to help start-up companies bridge a critical gap between concept and commercialization.

The 2009 High-Tech Forum morning keynote speaker, New York State Comptroller Thomas DiNapoli, visited the Center of Excellence in fall 2010 to announce a $15 million High Peaks Seed Venture Fund targeting early- and seed-stage companies.

The 2009 luncheon keynote presenter, JumpStart Inc., subsequently partnered with economic development leaders across 19 counties of Western and Central New York to secure $445,000 in federal funding from the U.S. Economic Development Administration in fall 2010. The goal is to transform entrepreneurship in Upstate New York into a significant engine for regional economic growth by developing high-growth companies, attracting follow-on funding and fostering a thriving entrepreneurial and innovation system in the region.

The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.