More than $40,000 at Stake in UB Competition

BUFFALO, N.Y. -- Five teams of students and alumni from the University at Buffalo will compete for cash and services in excess of $40,000 in the final round of the annual Henry A. Panasci Jr. Technology Entrepreneurship Competition from 3-7 p.m. April 25 in the Jacobs Executive Development Center, 672 Delaware Ave.

The team that presents the best business plan for a commercially viable technology will win a prize package that includes $25,000 in seed funding and one year of legal services from Jaeckle Fleischmann and Mugel, valued at $5,000. The second-place team will receive $10,000 in seed funding.

The Henry A. Panasci Jr. Technology Entrepreneurship Competition was created by the University at Buffalo School of Management and the UB Office of Science, Technology Transfer and Economic Outreach, and funded with a $1 million endowment from the late Henry A. Panasci Jr. to facilitate and promote the commercialization of UB-generated technologies. It also is designed to bring graduate-level students from science and technology disciplines together with MBA students to maximize their business and scientific potential to create viable businesses in Western New York.

This year's finalists are drawn from a variety of academic disciplines at UB and were chosen based on the content of their written business plans.

Each of the five teams will deliver 10-minute presentations 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, chairman, Zenhire Inc.; Thaddeus H. Grasela, Jr., president and CEO, Cognigen Corp.; James Hengst, president and CEO, ZeptoMetrix; Marnie LaVigne, director of business development, New York State Center of Excellence in Bioinformatics and Life Sciences; Mel E. Passarelli, vice president of worldwide sales, Vistagy, Inc.; and Brian Pearson, president, Valuation Advisors LLC. 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 716-885-5715 or mgt-cel@buffalo.edu.