Medical Conservation Devices, Programmable Equipment Company Advance in 43North Competition
Two University at Buffalo-affiliated companies, Medical Conservation Devices and Programmable Equipment Company, have advanced into the final stages of the 43North business plan competition. Medical Conservation Devices has been selected as one of eleven finalists competing for a top award of $1 million, six $500,000 wards and four $250,000 awards, while Programmable Equipment Company has been named as a first alternate that will enter the finals should another finalist withdraw.
Based on an exclusively licensed patent portfolio from the University of Buffalo, Batavia, NY- based Medical Conservation Devices has developed a low-cost anesthesia machine to expand the use of anesthesia globally, including in later approvals to sedate critically ill patients and provide anesthesia to up to 8 patients at one time. MCD is also eligible for a People's Choice Award of an additional $10,000, and can be voted for using twitter hashtag #43North9.
Programmable Equipment Company, based at the UB Technology Incubator in Amherst, NY, has developed a software platform used within the high value, low volume industrial market segment to increase throughput and quality while drastically decreasing the need for worker training. PEC software orchestrates manual industrial processes by simultaneously feeding instruction steps to the worker, controlling equipment, and storing data.
43North is world’s largest business idea competition, offering prizes of $5 million to turn the best new business ideas from around the globe into reality. In addition to financial awards, winners also receive free incubator space for a year, guidance from mentors related to their field and access to other exciting incentive programs. Winners agree to operate their business in the Buffalo, New York for a minimum of one year and provide 43North with 5% non-dilutive equity in their company. 43North is part of New York Governor Andrew Cuomo’s Buffalo Billion initiative, which is driving new economic opportunities throughout Buffalo and Western New York. The competition operates through the support of New York Power Authority and Launch NY.