Panasci TEC: UB entrepreneurs to compete for more than $75,000 in startup funding
On Thursday, April 18, from 4:30 to 7:30 p.m., six teams will compete for over $75,000* in startup funding and in-kind services in the final round of the Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC) at the University at Buffalo.
The competition was originally launched by the UB School of Management and the UB Office of Business and Entrepreneur Partnerships, using a $1 million endowment from the late Henry A. Panasci Jr. The notion was, to financially empower students who were interested in startup ventures in the fields such as science, technology, and business. The contest aims to facilitate and promote the commercialization of UB-generated technologies.
In addition to the competition, guests will be immersed in a demonstration of Buffalo’s 'fashionpreneurs' and 'foodpreneurs; and an exclusive runway presentation by Western New York Fashionpreneurs.
For over 20 years, this competition has allowed young business and creative minds to compete, while pursuing their dreams, and enhancing their ventures.
In 2024, the following six teams will compete for top prize. The teams were selected from 31 first-round pitches and 12 semifinalists…
- Empasta produces a plant-based, cheese-like sauce, using whole food ingredients to deliver a tasty product inclusive to most diets.
- J+J is a weighted magnetic band that helps promote stabilization of the hand for people with neurodegenerative diseases who suffer from hand tremors.
- DUCCS is a new technology in the composting industry, biochar wattles, that will decrease greenhouse gas emissions through natural adsorption and improve the carbon impact of current aerated composting processes.
- Hive is an ed-tech platform designed to enhance campus life by seamlessly connecting students, clubs and universities.
- Exergi develops and deploys a solar energy generator for residential and small commercial buildings.
- Connext is a pioneering solution that leverages technology and personalized mentoring to address challenges in the career exploration journey of high school students.
*The team that presents the best plan for launching a viable new business in Western New York will earn $25,000 in seed money plus in-kind awards valued at more than $40,000. The second-place team will collect $10,000 in startup funding. – UB
- Each of the final teams will present 2-minute pitches, 43North style, to a panel of judges and other viewers, 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.
- Hosted by UB’s Startup and Innovation Collaboratory powered by Blackstone LaunchPad, the event brings together UB students from science, technology, business and other disciplines to maximize their potential and create viable businesses in Western New York.
2024 Henry A. Panasci Jr. Technology Entrepreneurship Competition
Thursday, April 18
4:30 to 7:00 p.m.
The Center for the Arts (Main Stage) on UB’s North Campus (see map).
For additional details, including schedule, visit the Panasci program website.
Anyone interested in attending the presentations should register here.
Lead image: Empasta – Matthew Mullens, MBA, School of Management; Neharika Korati, MBA, School of Management. Photo Illustrations: Douglas Levere.
