UB has identified five teams as finalists in the 20th Annual Henry A. Panasci Jr. Technological Entrepreneurship (Panasci TEC) Contest, which will win the $ 52,000 in seed capital and business services going to the group that comes up with the best plan, one step closer to a viable new business in West New York.
The finalists, selected from 30 first-round fields and 11 semi-finalists, represent a variety of business proposals including:
- A breast pump that creates a personalized experience for breastfeeding mothers while delivering convenience, efficiency, affordability and portability.
- A proprietary, cloud-based, educational platform for 3D printing that enables companies to take advantage of additive manufacturing technologies.
- A leak detection film that works with an app to monitor patients who have had bowel repairs performed.
- A cloud-based artificial intelligence platform that learns from a variety of health data to optimize operating room planning and provides a marketplace for health facilities to sell resulting job vacancies to insurance companies.
- A shower chair accessory that promotes bath independence and helps prevent injury in the aging community.
Each of the five teams will give a 10-minute public presentation at the final round of the competition, which will take place virtually on April 9th via Zoom.
They are rated on how well they describe the feasibility and marketability of their company, demonstrate the need for their product or service, and identify potential sources of capital.
The winners will be announced after a short consultation period with the judges after the last presentation. During this time, Celine Krzan, MBA ’17 and Western New York Prosperity Alumna, Panasci winners for the past three years, will be interviewing about the status of their company and their post-competition life.
In addition to $ 25,000 in start-up funding, the winning team will receive $ 27,000 in kind for legal services from Colligan Law LLP, accounting services from Lumsden & McCormick LLP, and human resources services from the People Plan from HR Foundations Inc., business development services from Western New York Incubator Network and the UB Office of Business and Entrepreneur Partnerships as well as office space from North Forest Office Space.
Panasci TEC was founded by the School of Management and the Office of Business and Entrepreneur Partnerships and is funded by a $ 1 million donation from the late Henry A. Panasci Jr. to facilitate and facilitate the commercialization of UB-generated technologies promote.
Hosted by the School of Management’s Center for Entrepreneurial Leadership and UB’s Blackstone LaunchPad & Techstars, the event brings together UB students from science, technology, business, and other disciplines to maximize their potential and create viable businesses in West New York to found.
If you want to take part in the presentations on April 9th, you should register online.