Media Advisory: Buffalo Student Sandbox to award $10,000 in prizes on Friday to student entrepreneurs

BUFFALO, N.Y. – The inaugural class of Buffalo Student Sandbox is ready to graduate and $10,000 in cash prizes await.

The innovative program, which pays student entrepreneurs to grow their startup companies, ends Friday with “Pitch Day” when students from the University at Buffalo and other colleges present their business ideas to a panel of judges.

The winning team will receive $7,500 and the runner-up will receive $2,500. The prize money comes from the Buffalo Niagara Medical Campus (BNMC) Inc.’s seed fund, which was established by a grant from First Niagara Financial Group.

News media are invited to Pitch Day, as well as an event on Wednesday dubbed “Demo Day.” See details below.

What and When:

• “Demo Day” is Wednesday, July 29, from 3-6 p.m. Students will discuss their startups at tables in a trade show format.
• “Pitch Day” is Friday, July 31. Students will present to judges, 9 a.m. to 12 p.m. Prize winners will be announced at 12:45 p.m.

Note: News media members are invited to both events. The public is invited only to Demo Day.

Where:

• Both events will be at dig, a co-work space in the Thomas R. Beecher, Jr. Innovation Center on the medical campus, 640 Ellicott St., Buffalo.

About Buffalo Student Sandbox:

• The two month program was launched in June by WNY Innovation Hotspot, a consortium of eight regional business incubators, and partners including the UB School of Management’s Center for Entrepreneurial Leadership and Ignite, the business development arm of BNMC Inc.

Sandbox features eight student-led startups from UB, SUNY Fredonia, Daemen College and two Western New York natives     who attend Ithaca College. Unlike traditional incubator programs, Sandbox provides its companies with a $2,000 seed grand, plus a $300 weekly stipend per team member. In addition to workspace at dig, the students received mentoring and other business development support.

Here is a video with more information: http://bit.ly/1OkNJ0j.

Buffalo Student Sandbox is modeled after Syracuse Student Sandbox and administered by UB’s Office of Science, Technology Transfer and Economic Outreach (STOR), with UB Vice Provost Robert J. Genco as its principal investigator.