Governor Hochul Highlights More Than a Decade of Impact Through 43North in Buffalo

Governor Kathy Hochul today announced that Buffalo is entering the next phase of its startup ecosystem, as the 43North accelerator program will conclude at the end of 2027, with its final $5 million startup competition taking place in the fall of 2026. Since New York State launched 43North in 2014, it has helped establish Buffalo as a nationally recognized hub for entrepreneurship - investing in high-growth companies, attracting top-tier founders and creating more than 3,000 jobs globally, nearly 1,000 of which are located in Western New York. Owing to the success of the state-funded accelerator program, the 43North Foundation will continue its work in Buffalo and WNY including a new Venture Studio focused on launching and scaling startups.

"43North represents the best of what a public-private partnership can achieve," Governor Hochul said. "Over the past decade, we've helped transform Buffalo into a destination for innovation, attracting world-class entrepreneurs and creating new opportunities across Western New York. I'm incredibly proud of the progress we've made in my hometown and excited for what's ahead as Buffalo continues building on the momentum created through New York State's long-standing commitment to growing a strong startup ecosystem."

To date, 43North, primarily utilizing New York State funding, has invested tens of millions of dollars into high-growth companies, including ACV Auctions and Top Seedz, that have collectively raised more than $1 billion in follow-on funding, created thousands of jobs, and contributed to Buffalo's emergence as a competitive startup ecosystem. The program has also played a key role in advancing diversity in entrepreneurship and supporting founders from a wide range of backgrounds. This announcement is a testament to the impact of the State's long-term investments in 43North, which have led to the creation of the 43North Foundation, a self-sustaining organization that will continue to invest in a wide range of programs for Buffalo's startup ecosystem.

43North President Colleen E. Heidinger said, "Since our inception in 2014, New York State has been our number one supporter - championing a bold vision for Buffalo's future and standing alongside us every step of the way. We're proud of what this partnership has made possible: attracting world-class founders, fueling high-growth companies, and creating meaningful economic opportunity across Western New York. Governor Hochul and Empire State Development have been instrumental in building this momentum, and together, we've laid a foundation that positions Buffalo for an even stronger, more inclusive innovation economy."

Building on the success of 43North, the 43North Foundation will lead the next chapter of ecosystem development, with a long-term strategy focused on supporting founders, strengthening talent pipelines, and expanding access to capital and industry partnerships. Its work has been distilled into four pillars:

• Radial Ventures - an AI-led Venture Studio to help create and launch new startups
• TechBuffalo - talent development efforts to grow and retain startup-ready workers
• Series B - storytelling and visibility to attract founders, investors, and partners
• Corporate Connectivity - to connect startups with established Buffalo corporations

Empire State Development will continue supporting efforts that strengthen Buffalo's innovation economy and build on the foundation established through 43North over the past decade. The program helped attract new companies, support entrepreneurs, and create economic opportunity across Western New York while contributing to Buffalo's emergence as a growing hub for innovation. New York State remains committed to supporting the people, industries and ideas that will shape Buffalo's future for generations to come.

Empire State Development President, CEO, and Commissioner Hope Knight said, "New York State's intentional investments through 43North have completely reshaped Buffalo's economic landscape, turning a visionary concept into a thriving, nationally recognized innovation hub. By anchoring high-growth startups and building a skilled tech workforce, this program has fueled job creation and unlocked incredible opportunities across Western New York. Empire State Development remains deeply committed to sustaining this momentum, ensuring that the robust foundation built over the last decade continues to drive inclusive growth and entrepreneurial success for years to come."

State Senator April N.M. Baskin said, "Over the last decade, 43North has helped shape Buffalo's economy, showing that innovation and opportunity can thrive right here in Western New York when we invest in entrepreneurs. 43North has played a major role in establishing Buffalo as a destination for entrepreneurship and innovation, launching companies that have raised millions in capital, created jobs, and built new opportunities across Western New York. I look forward to seeing the impact 43North will have on Buffalo in its next chapter."

About Empire State Development
ESD is New York's chief economic development agency, and promotes business growth, job creation, and greater economic opportunity throughout the state. With offices in each of the state's 10 regions, ESD oversees the Regional Economic Development Councils, supports broadband equity through the ConnectALL office, and is growing the workforce of tomorrow through the Office of Strategic Workforce Development. The agency engages with emerging and next generation industries like clean energy and semiconductor manufacturing looking to grow in New York State, operates a network of assistance centers to help small businesses grow and succeed, and promotes the state's world class tourism destinations through ILOVENY. For more information, please visit ESD's website here, and connect with ESD on LinkedIn, Facebook and X, formerly known as Twitter.