February 3, 2023 The Emerging MedTech Hub to Put on Your Radar

Buffalo, New York, is becoming a draw for life science companies with more than $1.5 billion invested in the region since 2015.

Thanks to several initiatives and programs put in place to drive MedTech innovation, Buffalo, New York, is a city to watch.

Ranking fourth in America for the per-capita percentage of life sciences workers, the sector accounts for a full 2% of all employment in Buffalo, New York. Two thirds of Buffalo’s $530 million angel and venture capital funding in 2021 was dedicated to life and health sciences.

In addition to Buffalo’s large healthcare network, companies like Circuit Clinical and Legworks have recently scaled – positioning the region as a global leader in the life science industry.

Here’s more on the organizations, companies and programs driving this innovation:

• Revolutionizing the treatment of vascular diseases: Located on the Buffalo Niagara Medical Campus, a one-of-a-kind vascular medical technology center aims to create and develop the next generation of life-saving ideas. The Jacobs Institute (JI) converges a state-of-the-art hospital and world-class research center with unique hands-on training, simulation experiences and 3D-printed vascular flow modules. Specifically, its i2R, or Idea to Reality Center, is focused on developing novel, smart-engineered endovascular medical devices at a faster pace and in a more cost-effective way, getting them to patients sooner. 
• Startup incentives and incubators: In 2019, Circuit Clinical, one of the largest integrated research organizations in the U.S. providing turnkey end-to-end solutions for clinical trials, was being pushed by investors to leave Buffalo. That was until it was granted a $500,000 investment from startup competition 43North, retaining the company and its future growth in Buffalo. Since its commitment to Buffalo, the company has raised $29 million in funding and recently hit its 100-employee mark.
• The Buffalo Niagara Medical Campus (BNMC): The 120-acre medical campus in downtown Buffalo houses a dynamic consortium of hospitals and health care providers, education institutions, research facilities and over 200 private-sector companies – employing about 20,000 people. It is home to world-renowned leaders in oncology, neurosurgery, immunology, vascular surgery, personalized medicine and cardiology.

The sector has recently grown even furth with a new AI institute to help children with speech and language disorders. The University at Buffalo has been awarded a $20 million grant by the National Science Foundation to establish a national institute that develops artificial intelligence systems that identify and assist young children with speech and/or language processing challenges.

These are only a few examples, with the list of MedTech innovations expected to grow each year.

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