Release Date: April 6, 2010
BUFFALO, N.Y. -- Five teams of students and alumni from the University at Buffalo will compete for cash and services in excess of $10,000 in the final round of the Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC).
The event will be held from 3-7 p.m. on April 26 in the Jacobs Executive Development Center, 672 Delaware Ave.
Panasci TEC, now in its 10th year, awards seed money and business services to the teams that present the best plan for launch of a viable new business. Ten local ventures have been launched with first-place prize money since the UB competition began, and most are still in business.
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.
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; Thaddeus H. Grasela Jr., president and CEO, Cognigen Corp.; Harrison Kelly III, chief quality officer, Curbell; 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 email@example.com.
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 Wall Street Journal has ranked the UB School of Management as one of the nation's top business schools, and Forbes has cited it as one of the best business schools in the U.S. for the return on investment it provides MBA graduates. In addition, the school's part-time MBA program and its undergraduate business program have earned recognition in BusinessWeek. For more information about the UB School of Management, visit http://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.