Buffalo-based 43North is moving its headquarters to the city’s tallest building.

The state funded start-up competition also provides incubator space to winners year round. It is receiving a $1.5 million grant to move to Seneca One Tower as part of the new tech hub developer Doug Jemal is building there.

43North said the move will give its companies the opportunity to scale their businesses in a “vibrant, active environment” where there is significant tech talent thanks to M&T banks plans to move more than 1,000 jobs to the hub. Those companies include Z80 Labs and Techstars Buffalo as well as 43North staff.

“Each new class of 43North portfolio companies has raised the bar, whether you consider the caliber of their teams, the volume of capital they’ve raised, or the amount of traction they’ve achieved. It’s 43North’s responsibility to continually up our game, as well, to ensure that we provide out companies with every opportunity to scale their businesses and establish long-term roots in Buffalo,” 43North President Alex Gress said. “43North’s new headquarters in Seneca One will be an important asset in attracting additional world-class startups to Western New York. It will also serve as a strong selling point for our companies, as they recruit talent to grow their businesses.”

The competition awards up to $5 million total to companies every year, with stipulations about locating the CEO and more than half of the staff in Buffalo for a year. 43North said it will release more details about the move in the coming weeks.