43North’s newest cohort is getting a changeup.
Rochester-based Agape Wellness Inc., one of five $1 million winners in this year's competition, is out. The organization and Agape “couldn’t get to a place where both parties felt comfortable with the pre-existing agreements,” according to Colleen Heidinger, 43North president.
London-based Twipes, a bio-tech company that’s developed a material that can break down in water in three hours and biodegrade in a landfill in seven days, will take Agape’s place. That means Twipes will receive the $1 million prize and will move its headquarters to Buffalo early next year.
43North typically selects alternate winners for its annual pitch competition because changes can happen in the investing process. Twipes was the first alternate because it’s a good fit for Buffalo, with the strength of the local manufacturing industry, availability of space here and the Buffalo workforce.
“You can feel their energy,” Heidinger said. "We feel they’re very deserving.”
Before learning it would become a 43North winner, Twipes was already in the process of hiring an operations manager in Buffalo, CEO Al Borz said. The startup, founded in 2015, plans to bring most of its team of nine to the Queen City and hire more workers here.
The business wanted to expand into America, and Buffalo seems like a great place to bring its headquarters and start distribution and manufacturing.
"This feels like a dream," Borz said. "If you said to us 'what is the ideal scenario?', this would be it."
Read more about this year's 43North winners below:
