Participants Sought for Panasci Technology Competition

BUFFALO, N.Y. -- Recent University at Buffalo alumni and UB students with innovative ideas in the technology, life science and engineering industries are being sought as participants in the Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC).

Cash prizes of $25,000 and $10,000 in seed funding, as well as one year of legal services and office space, will be awarded to the first- and second-place teams, respectively, that devise and present the best business plan for launch of a viable business.

The competition is sponsored by the Henry A. Panasci Jr. Endowment, the UB School of Management and the UB Office of Science, Technology Transfer and Economic Outreach (STOR).

The purpose of the competition is to facilitate and promote the commercialization of UB-generated technologies. It also is designed to provide a mechanism for bringing students from different disciplines together with students from the School of Management to maximize their business and scientific potential and to create viable businesses in Western New York.

Interested students and alumni who have graduated within the past two years will be able to obtain information about the competition at sessions to be held from 10-11:30 a.m. on Sept. 29 or from 5-6:30 p.m. on Oct. 10 in Room 205 of the Alfiero Center on the UB North (Amherst) Campus. Panasci TEC representatives and past winners will be available to answer questions. Register to attend the information session by sending an e-mail to mgt-cel@buffalo.edu.

Applications to participate in the competition are due by Jan. 30, 2006, and teams will be assigned mentors the week of Feb. 8. Each team will be required to submit a business plan by March 24. Judges will review the business plans and name up to five finalists by the week of April 10. Each team in the finals will be required to give a PowerPoint presentation before a panel of judges on April 26. The winner will be announced that day, shortly after the final presentation.

Application materials and information about the competition can be accessed online at mgt.buffalo.edu/ced/cel/tec.shtm or by calling the UB Center for Entrepreneurial Leadership at 885-5715.