43North

President Colleen Heidinger leads the organization's operations and competition design. The investment decisions — which startups receive grant awards — are made through a multi-stage judging process that culminates in a live pitch competition before a panel of judges, typically comprising entrepreneurs, investors, and business leaders with ties to the Buffalo region.

43North is structured as a 501(c)(3) nonprofit economic development organization, not a venture capital firm. It provides non-dilutive grants rather than taking equity in the companies it backs. Winners are required to base their operations in Buffalo for at least one year, making it as much a talent-attraction program as a startup accelerator.

The program was initially capitalized through New York State's Buffalo Billion initiative, a broader economic redevelopment effort launched by Governor Andrew Cuomo. The organization was established with a $100 million endowment structured to sustain operations through investment returns, with an additional $50 million committed by the state in July 2023 to extend the program.

No. 43North provides pure grant funding — the capital is non-dilutive. This is a structural differentiator from conventional accelerators like Y Combinator or Techstars, which typically take 5–7% equity in participating startups. The trade-off is the residency requirement in Buffalo.

The most prominent alumnus is ACV Auctions, an online wholesale vehicle marketplace that went public on Nasdaq in 2021. Squire Technologies, a barbershop software platform, is another widely recognized graduate that has raised substantial venture capital from institutional investors. The portfolio spans sectors including enterprise SaaS, digital health, industrial technology, and agritech.

Success is measured through economic impact metrics rather than fund returns: total jobs created in the Buffalo region by portfolio companies, companies that remain in Buffalo beyond the one-year requirement, total capital subsequently raised by alumni from conventional venture investors, and downtown office occupancy. The organization reports that its portfolio has collectively created thousands of local jobs since 2014.

Yes. The competition is open to startups globally, regardless of headquarters location. International winners must establish a US entity and agree to the same Buffalo residency requirement as domestic companies. This open eligibility reflects the program's core objective of importing talent and companies into the Western New York region.