BUFFALO, N.Y. – The team that presents the best plan for
launch of a viable new business will receive $25,000 in start-up
funding in the final round of the Henry A. Panasci Jr. Technology
Entrepreneurship Competition (Panasci TEC).
A record number of 27 applicants made first-round pitches, which
preliminary judges then narrowed to nine teams of semifinalists.
The semifinalists submitted business plans from which five teams of
finalists were chosen.
Business ideas included an application use to provide visual,
heat map representations of the world’s numerical data; a
web-based solution providing personalized and easy-to-understand
financial plans; a nanomaterial allowing a switch between light
with heat and light without heat modes; customizable, USB-powered
illuminated panels for a laptop; and a business analytics and data
storage platform to update and analyze higher-education alumni
The final five teams will give presentations from 3-7 p.m. on
April 19 in the Center for the Arts Screening Room on UB’s
In addition to the seed money, the winning team will receive
in-kind awards valued at $27,000 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., business development services from the UB
Office of Science, Technology Transfer and Economic Outreach and
office space from North Forest Office Space.
A second-place team will receive $10,000 in start-up
Now in its 13th 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
It also is designed to bring students from science and
technology disciplines together with business students to maximize
their business and scientific potential to create viable businesses
in Western New York.
Thirteen local ventures have been launched with first-place
prize money since the UB competition began, and most are still in
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; 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,
Winners will be announced at a reception following the last team
Those interested in attending the presentations should register
with the Center for Entrepreneurial Leadership at 716-885-5715 or
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 http://mgt.buffalo.edu.