Panasci Entrepreneurial Competition Enters Final Round

BUFFALO, N.Y. -- Five teams of students and alumni from the University at Buffalo will compete for a $25,000 prize in the final round of the Panasci Entrepreneurial Competition on March 3 from 4-6:30 p.m. in the Jacobs Executive Development Center, 672 Delaware Ave.

The team that devises and presents the best plan for a viable business will win $25,000 to launch its enterprise in Western New York. It then will advance to the Southwest Business Competition at Rice University in Houston.

The Panasci Competition, now in its fourth year, was created to encourage the entrepreneurial interests of UB students and recent alumni. The competition is organized by the University at Buffalo Center for Entrepreneurial Leadership and funded with a $1 million endowment from UB School of Pharmacy alumnus Henry A. Panasci Jr., chairman of Cygnus Management Group and past chairman and CEO of Fay's Inc.

This year's finalists, chosen from among 17 entrants, are drawn from a variety of academic disciplines at UB, including business administration, communications and engineering. The finalists were chosen based on the content of their written business plans.

Each of the five teams will deliver 10-minute presentations where they 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.

Representatives from Health Transaction Network, Jaeckle, Fleischmann & Mugel, M&T Investment Group, Rand Capital Corp., Seed Capital Partners and Strategic Investment & Holdings, Inc. will judge the competition. Winners will be announced at the event shortly after the last presentation.

Those interested in attending the presentations should register with the UB Center for Entrepreneurial Leadership at 645-3000 or mgt-cel@buffalo.edu.