BUFFALO, N.Y. – More than $60,000 in startup funding and
in-kind services is at stake in the final round of the Henry A.
Panasci Jr. Technology Entrepreneurship Competition (Panasci
Since the competition began, 14 local businesses have launched
with the first-place prize money, and most remain in business
today. The very first Panasci TEC champs sold their business,
Campus Labs, for $40 million in 2012.
This year, the team that presents the best plan for launching a
viable new business in Western New York will earn $25,000 in seed
In addition, the winning team will receive in-kind awards worth
$27,000 for legal services from Jaeckle Fleischmann & Mugel
LLP, accounting services from Kopin & Co. P.C., human resource
startup services from the People Plan by HR Foundations Inc.,
business development services from the UB Office of Science,
Technology Transfer and Economic Outreach (STOR) and office space
from North Forest Office Space.
The second-place team will collect $10,000 in startup
What: The Panasci TEC was created by the UB School of
Management and STOR and is funded with a $1 million endowment from
the late Henry A. Panasci Jr.
In the finals, teams will deliver 10-minute presentations. They
will be judged on how well they describe the feasibility and
marketability of their venture, prove the need for their idea and
present potential sources of capital.
Why: Facilitated by the UB School of Management’s
Center for Entrepreneurial Leadership (CEL), the competition brings
together students from science, technology and business disciplines
to maximize their potential to create viable businesses in Western
Who: Selected from a record 28 first-round pitches, the
finalists feature a diverse array of ventures: Overlays LLC, a
platform presenting data overlaid on interactive maps; ResAcel, a
producer of viruses for research labs; Laundry Box, a drop-off box
providing a convenient alternative for doing laundry; Earth Risk
Systems, prediction and risk assessment services for natural
disasters; and EMVISS, an invention that removes problematic
vibrations in high-precision devices.
When: 4:30 to 8 p.m. on April 2 (detailed schedule
Where: The Center for the Arts Screening Room on
UB’s North Campus.
Details and Photo Opportunities:
4:30-4:45 p.m.: Welcoming remarks from Thomas R. Ulbrich,
assistant dean and executive director of the CEL; Arjang A. Assad,
dean, UB School of Management; Karl D. Fielbelkorn, associate dean
for student affairs and professional relations, UB School of
Pharmacy and Pharmaceutical Sciences; and Martin Casstevens,
business formation and commercialization manager, STOR
4:45-6:30 p.m.: Team presentations
6:30-7:30 p.m.: Reception
7:30-8 p.m.: Presentation of awards and closing remarks from