Team says ‘cheeze’ to win UB entrepreneurship competition

The creators of a plant-based, cheese-alternative sauce took first place April 18 at UB’s Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC).

Hosted by UB’s Startup and Innovation Collaboratory powered by Blackstone LaunchPad, the event brought together UB students from science, technology, business and other disciplines to maximize their potential and create viable businesses in Western New York.

The winning team, first-year MBA students Matthew Mullens and Neharika Korati, will receive $25,000 in startup capital and in-kind services valued at $40,000 for their company, Empasta, which produces what the team calls “cheeze” sauce — a healthier, tasty cheese alternative.

The vegan product is free of dairy, gluten, soy and nuts, so is inclusive to most diets. Made from a base of potatoes and carrots, Empasta comes in original, spicy and smoky flavors, and is recommended for pasta, nachos, vegetables and more.

Mullens was inspired with the idea in 2019 and wanted to create a product that has a low impact on the planet while being accessible and satisfying to those who have adopted a plant-based diet.  

“The value that Panasci TEC added goes beyond the cash prize and in-kind services,” Mullens says. “The feedback we got along the way from our team mentor, Peter Cimino, and the judges during each round stretched both me and my teammate to grow as professionals and individuals.”

Mullens says the team was able to apply several concepts from the past two semesters of the MBA program.

“Even though I founded Empasta before coming to UB, our pitch was so much more refined because we had a better understanding of the language of business and how to communicate the value we are adding to people who engage with the product,” he adds.

In addition to $25,000 in seed funding, the winning team will receive in-kind awards valued at $40,000 for business counseling from Atlas Alignment Growth Partners; legal services from Colligan Law LLP; engineering design and prototyping services from Innosek; accounting services from Lumsden & McCormick LLP; Intellectual Property legal services from Stake; website development and creative agency services from ThreeSixty; and co-working space from the UB Office of Business and Entrepreneur Partnerships.

In second place, for two years running, were Dominic LaVigne, a mechanical engineering student in the School of Engineering and Applied Sciences, and Daniel Chan, a business student in the School of Management. The team will collect $10,000 for Exergi, which develops and deploys a solar energy generator for residential and small commercial buildings.

Panasci TEC provided coaching and mentoring to participants to prepare them for their pitches.

Selected from 31 first-round pitches and 12 semifinalists, six teams of finalists delivered long-form presentations to judges and spectators on April 17. At the final event on April 18, they delivered five-minute pitches, 43North style, to a panel of judges and other viewers, and were evaluated on how well they described the feasibility and marketability of their venture, proved the need for their product or service, and presented potential sources of capital.

Other new venture ideas included a weighted magnetic band that helps promote stabilization of the hand for people with neurodegenerative diseases; a new technology in the composting industry that will decrease greenhouse gas emissions; an ed-tech platform that seamlessly connects students, clubs and universities; and a pioneering solution that leverages technology and personalized mentoring to help high school students in career exploration.

In addition to the competition, guests were immersed in a demonstration of Buffalo’s “fashionpreneurs” and “foodpreneurs” and an exclusive runway presentation by Western New York Fashionpreneurs.