The 43North Foundation has established a goal of generating $5 billion in economic impact across Buffalo over the next decade, building on a $100 million investment commitment focused on the region’s innovation economy.
The organization plans to pursue the goal by creating locally rooted startups, encouraging established businesses to make major investments and attracting outside companies to Buffalo.
Colleen E. Heidinger, currently president of 43North, will become CEO of the 43North Foundation on January 1, 2027. She will succeed Sarah Tanbakuchi-Ripa, who is completing a two-year commitment to the position. Both executives will remain in their current roles through the end of 2026 to support the transition.
Heidinger has spent more than a decade with 43North, including nearly seven years as president. The foundation operates across four primary initiatives: venture studio Radial Ventures, talent-development organization TechBuffalo, the Ambassador Network and the Series B storytelling platform.
Since 2014, 43North has supported nearly 80 startups, helped create more than 3,000 jobs and generated $1 billion in additional investment for portfolio companies. The portfolio includes ACV Auctions, which became Buffalo’s first technology unicorn and completed a $3.8 billion IPO in 2021.
The final 43North startup competition is scheduled for October 8, 2026, concluding 12 years of programming. The foundation will continue operating as a permanent investment platform for Buffalo’s innovation economy.
KEY QUOTES:
“This work belongs to hundreds of founders, investors, and partners across this community who believed Buffalo could compete, long before the results proved them right. Sarah built the strategy that made this handoff possible. Colleen built the relationships that will carry it forward.”
Bill Maggio, Chairman of the 43North Foundation Board
“I’m incredibly proud of what we’ve built here over the past decade, real companies, real jobs, real proof that Buffalo can compete nationally. We’re aiming high: $5 billion in economic impact over the next ten years.”
Colleen E. Heidinger, Incoming CEO of the 43North Foundation
