Release Date: December 16, 2020
BUFFALO, N.Y. – The University at Buffalo is launching a new competition for alumni and former students who own or lead businesses or startups.
Named in honor of UB’s founding in 1846, the UB Fast 46 program will recognize and celebrate the success of 46 of the fastest-growing businesses owned or led by UB alumni or former students around the world. In addition, three startups that have garnered the most venture capital also will be recognized.
“We were inspired by Buffalo’s economic resurgence, the strength of the business community and the entrepreneurs who have come out of UB,” said Cynthia Khoo-Robinson, associate vice president for alumni engagement and annual giving. “Fast 46 is a unique way for successful business leaders to compete for a ranking among their peers.”
The process to be considered for Fast 46 is twofold: Initial nominations — which may be self-submitted or by a third party — and a formal application to prove eligibility and provide the required financial documents. Eligible companies must have been in business for at least three years; have verifiable revenues of at least $100,000 or more in 2017 and 2018 and at least $250,000 in 2019; and the owner, CEO, president, managing partner or chairperson must be UB alumni or former students.
To be considered for the UB Top 3 Under 3 award, companies must have been in business for less than 36 months; have secured verifiable venture capital funding; and the CEO, president, managing partner, chairperson or owner must be a current or former UB student.
Nominations for Fast 46 opened Nov. 9 and will close Jan. 29, 2021.
Companies will be ranked by the percentage of cumulative annual growth in revenue for the three most-recent 12-month reporting periods. The 46 companies with the highest revenue growth rates — as verified by The Bonadio Group, a Top 50 CPA firm with offices in Buffalo, throughout New York State and beyond — will be selected for the inaugural UB Fast 46 at an event in October 2021.
“We’re thrilled to partner with UB on this initiative,” said Denise Neamon, Buffalo-based partner with The Bonadio Group. “As both a UB alum and a graduate of UB’s Center for Entrepreneurial Leadership program, I’m extremely passionate about recognizing and rewarding individuals and companies that are excelling since their time at our alma mater.”
“We hope businesses will apply annually to maintain or grow their ranking,” Khoo-Robinson said, “indicating they are continuing to thrive and succeed.”
More information, including criteria, nomination forms and deadlines, are available at buffalo.edu/alumni/fast46. Additional questions may be directed to Krystal Testa in the Office of Alumni Engagement at firstname.lastname@example.org or (716) 645-0886.