University of Buffalo's Innovation Hub has joined forces with a state government initiative to invest $10m in early-stage technologies.

University of Buffalo has raised a $10m vehicle called Buffalo Innovation Seed Fund to back early-stage companies in its local ecosystem.
The vehicle is being capitalised through the initiative of the University of Buffalo’s Innovation Hub and Buffalo Billion, a state government development scheme focused on grants and tax breaks.
Innovation Hub anticipates the fund to energise the maturation of technologies emerging from the university and its research partners, which include Roswell Park Comprehensive Cancer Center and nonprofit healthcare network Kaleida Health.
Buffalo Innovation Seed Fund also unveiled its inaugural deal: a $250,000 investment in University of Buffalo alumni-founded marine navigation startup Buffalo Automation.
Its contribution was matched by another $250,000 from management consulting firm Varia Consulting Group.
Kathy Hochul, lieutenant governor of New York State, said: “The UB Innovation Hub is helping support emerging partnerships and foster collaboration.
“This inaugural investment is an example of the university’s commitment to growing the tech economy and creating good-paying jobs paving the way for Buffalo and Western New York to build back better and succeed in the post-pandemic future.”