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Colleen Heidinger and Pete Grum of 43North
S2:E5

Colleen Heidinger and Pete Grum of 43North

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The city of Buffalo and the surrounding region have experienced a renaissance over the last 10-15 years, and in that time, 43North has played a huge role in attracting businesses to the area. On this episode of Empire State Entrepreneurs, host Dave Pfalzgraf connects with Colleen Heidinger and Pete Grum to discuss the competition, the organization's impact, and how Buffalo has become a place that entrepreneurs flourish.

Episode Highlights
  • 0:01:30 – David Pfalzgraf welcomes listeners to Year 2 of the podcast and introduces guests Colleen Heidinger and Pete Grum.
  • 0:05:10 – Pete Grum reflects on his path to Buffalo, career at Rand Capital, and transition into impact investing at Advantage Capital.
  • 0:15:40 – Investing in people: Pete shares the backstory of investing in early internet ventures, including Check.com and ACV Auctions.
  • 0:20:10 – Colleen details her move from LA and DreamWorks Animation back to Buffalo, inspired by the Buffalo Billion and a desire to give back.
  • 0:26:30 – Founding days of 43North: chaos, creativity, and creating a startup accelerator without a playbook.
  • 0:34:00 – Changing Buffalo’s mindset: from exporting talent to cultivating belief in the city’s entrepreneurial potential.
  • 0:39:25 – Colleen shares how she unexpectedly became President of 43North in 2020, just weeks before the pandemic hit.
  • 0:45:15 – Scaling the mission: from national press and ACV to deeper local impact through grants, programs, and career fairs.
  • 0:49:45 – The story of Top Seedz: a 43North-backed business that’s changing lives and hiring refugees in Buffalo.
  • 0:54:00 – Pete introduces the 43North Foundation: how it's using proceeds from successful exits to reinvest in the ecosystem.
  • 1:00:30 – What’s ahead in 2025: a competitive application cycle, five $1 million investments, and continued national attention.
  • 1:05:50 – The call to action: how Buffalo’s business leaders can support startups through investment, mentorship, and corporate partnerships.
  • 1:13:10 – Final thoughts: legacy, mindset, and how 43North is rewriting Buffalo’s story, one startup at a time.