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More Than $10,000 at Stake in Panasci Competition

Release date
Apr-15-2011

Contact
Jacqueline Molik Ghosen
716-645-2833
ghosen@buffalo.edu

BUFFALO, N.Y. – The team that presents the best plan for launch of a viable new business will receive $10,000 in start-up funding in the final round of the Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC).

Five teams of students and alumni will give presentations from 3-7 p.m. on April 27 in the Jacobs Executive Development Center, 672 Delaware Ave.

In addition to the seed money, the winning team will receive in-kind awards for legal services from Jaeckle Fleischmann & Mugel LLP, accounting services from Kopin & Co. P.C., human resource start-up services from the People Plan by HR Foundations Inc. and office space from North Forest Office Space.

Now in its 11th year, the competition was created by the University at Buffalo School of Management and the UB Office of Science, Technology Transfer and Economic Outreach, and is funded with a $1 million endowment from the late Henry A. Panasci Jr. to facilitate and promote the commercialization of UB-generated technologies.

It also is designed to bring graduate-level students from science and technology disciplines together with MBA students to maximize their business and scientific potential to create viable businesses in Western New York.

Eleven local ventures have been launched with first-place prize money since the UB competition began, and most are still in business.

This year’s finalists were chosen based on the content of their written business plans.

Each of the five teams will deliver a 10-minute presentation and will be evaluated on how well they describe the feasibility and marketability of their venture, prove the need for their product or service and present potential sources of capital.

Judging the competition will be Robert H. Fritzinger, director, SUNY Fredonia Technology Incubator; James Hengst, president and CEO, ZeptoMetrix Corp.; Marnie LaVigne, director of business development, UB’s New York State Center of Excellence in Bioinformatics and Life Sciences; Mel E. Passarelli, vice president of North American operations, Attunity; Brian Pearson, president, Valuation Advisors LLC; and Alan Zdon, owner, iCraveit.com.

Winners will be announced at a reception following the last team presentation.

Those interested in attending the presentations should register with the UB Center for Entrepreneurial Leadership at 716-885-5715 or mgt-cel@buffalo.edu.

The UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school has been ranked by Bloomberg Businessweek, the Financial Times, Forbes, U.S. News & World Report and The Wall Street Journal for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit mgt.buffalo.edu.

The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system and its largest and most comprehensive campus. UB’s more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.