The 43North Foundation has set a $5 billion economic impact target for the Western New York region, marking a shift in strategy as the parent accelerator program prepares for its final competition. Current 43North president Colleen Heidinger will transition into the role of chief executive officer for the foundation on January 1, 2026. She succeeds Sarah Tanbakuchi-Ripa, who led the initial establishment of the foundation’s operational structure over the past two years.
Shifting from Accelerator to Foundation
This transition marks a departure from the traditional model that defined Buffalo’s tech scene since 2014. The 43North accelerator will cease operations following its final competition in October 2027. Over its 13-year lifespan, the program utilized $55 million in state funding to support nearly 80 startups, including ACV Auctions, which achieved unicorn status with a multi-billion dollar valuation. The foundation now intends to reinvest returns from this portfolio to sustain the regional innovation economy without direct reliance on the competition model.
Bill Maggio, chairman of the 43North Foundation Board, stated that the organization is focusing on four strategic pillars: startup creation, corporate connectivity, storytelling, and talent development. These pillars mirror development strategies seen in other successful innovation hubs. The foundation aims to move beyond attracting outside companies by building a local network capable of supporting home-grown ventures from conception to scaling.
Implementing a New Strategy
Heidinger brings over a decade of experience with the organization to her new executive role. She previously spent years in the entertainment industry in Los Angeles and New York City before returning to her hometown of Buffalo. Her predecessor, Tanbakuchi-Ripa, focused on the organizational heavy lifting required to stand up the foundation’s internal operations. Now, the board looks to Heidinger to leverage her community ties to increase engagement and visibility.
Radial Ventures, the foundation’s venture studio, serves as a primary engine for this new phase. It currently manages 10 company concepts, with several moving into pilot phases. The studio employs 13 specialists including engineers and designers. These experts work in a centralized office to validate business ideas before taking them to market. By controlling the incubation process locally, the foundation expects to increase the survival rate of new regional startups.
Deepening the Local Ecosystem
Talent development remains a core focus through the integration of TechBuffalo, which joined the foundation last month. TechBuffalo has reached approximately 10,000 participants through various educational pathways and code clubs. This pipeline is meant to feed into the growing number of tech-focused employers in the area, such as Odoo, which plans to expand its Buffalo workforce to 700 employees by 2028.
Storytelling efforts like Series B(uffalo) have already drawn over 100,000 website visits since launching in January. The foundation views this visibility as a necessary component to attract further investment and interest from national partners. While the competition aspect of 43North is ending, the foundation plans to continue holding large-scale community events to keep interest in regional startups high.
Sustaining Growth Beyond 2027
Questions remain regarding the staff currently employed by the accelerator. Maggio indicated that the foundation has developed retention incentives to keep key team members through next year to support the final cohort of winners. He expressed confidence that these employees will transition into roles within the growing local startup cluster or find positions within the foundation’s expanding infrastructure.
Heidinger maintains that the current path remains clear. She is currently focused on managing the final competition while ensuring the foundation's four-pillar strategy takes hold. The shift signals a transition for Buffalo from a city trying to attract tech companies to one that serves as a self-sustaining home for them. Observers will watch how this model performs once the financial backing of the original accelerator program winds down.