Buffalo – September 13, 2026 -- The 43North Foundation has set a target of converting its $100 million investment into $5 billion in economic impact for Buffalo over the next ten years, backed by a leadership transition that takes effect January 1, 2027.
Colleen E. Heidinger will become CEO, succeeding Sarah Tanbakuchi-Ripa
Heidinger, currently President of 43North and with the organization for more than a decade, was selected following a national search led by the Foundation's Board. Tanbakuchi-Ripa is completing her two-year commitment to the role, and both leaders will remain in their current positions through year-end to ensure a smooth handoff. Bill Maggio, Chairman of the 43North Foundation Board, credited Tanbakuchi-Ripa with building the strategy and Heidinger with the relationships to carry it forward.
Four investment pillars show early traction across talent, capital and visibility
The Foundation operates through Radial Ventures, a venture studio with 10 companies in its commercialization pipeline; TechBuffalo, which has enrolled more than 10,000 people in talent pathways; the Ambassador Network, engaging more than 150 business leaders; and Series B, which has drawn more than 100,000 website visitors since its January 2026 launch.
43North's decade-long portfolio has generated $1 billion in follow-on investment
Since 2014, 43North has supported nearly 80 startups, created more than 3,000 jobs, and generated $1 billion in additional investment across its portfolio companies. The founder base is 46% people of color and 26% women. ACV Auctions, a 2015 43North winner, became Buffalo's first tech unicorn, employing more than 600 people locally after a 2021 IPO valued at $3.8 billion.
The startup competition itself will end after its October 8, 2026 finals
The event caps 12 years of annual programming that invested $5 million per year in high-growth startups in exchange for their commitment to operate in Buffalo. The Foundation, funded by returns from that portfolio rather than a single donor, will continue operating beyond the competition's conclusion as a permanent fixture of Buffalo's innovation economy.
Heidinger frames the next decade around measurable regional payoff
"We're aiming high: $5 billion in economic impact over the next ten years," Heidinger said, pointing to the region's track record of real companies and jobs as evidence Buffalo can compete nationally. She was recently admitted to the Kauffman Fellows Program, a two-year peer-learning curriculum for innovation leaders.