The magazine for alumni and friends of the UB School of Management
Issue link: http://ubschoolofmanagement.uberflip.com/i/359417
Autumn 2014 B B feasible," says Li, who also serves as academic director of the Entrepreneurship Academy. "If their ideas work, we help students accelerate the startup process with the Student Entrepreneur Fellowship program. If their ideas don't work out, they will learn how to fail quickly and use what they have learned to start up again in the future." A dozen UB classmates joined the ranks of the first eLab in January, and six received fel- lowships upon completion of the course, including two School of Management students. Michael Sparks, BS/MBA '14, won $5,000 for his startup, Stickerlight, a customizable and sound-activated light-up sticker for laptops. April LoTempio, a student in the Professional MBA program, was awarded $5,000 for her B2Y Education proposal. Her services include everything from planning field trips and cur- riculums to providing web content. "This was exactly the kind of hands-on work and practical knowledge I needed to move my business for- ward," she says. Students who win the fellowship are encouraged to enter the Henry A. Panasci Jr. Technology Entrepreneurship Competition (see sidebar at right). Living and learning community Budding student entrepreneurs can do more than take classes together. In 2012, the UB Entrepreneurship Academy was launched as one of five Undergraduate Academies that give students the chance to live and learn with peers who have similar interests. Members participate in activities such as the pitch competition, net- working events with local busi- ness leaders and more. "These initiatives are outstand- ing examples of the School of Management's strategic commitment to entrepreneurship," says Arjang Assad, dean of the School of Management. "Making this our priority challenges our most enterprising students and brings us closer to the promise of UB 2020." x Charlotte Hsu, Kevin Manne and Marcene Robinson contributed to this story. Four UB students took first place in UB's Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC) in April for their plan to manufac- ture an invention that removes problem- atic vibrations in high-precision devices. Conor Flynn, JD '15; John Fraczek, JD/MBA '16; Hosein Kerdar, PhD '14; and Travis West '14 received $25,000 in startup funding and $27,000 in business services for their com- pany, EMVISS. Panasci TEC Winners Feeling Good Vibrations "Creating a successful business requires far more than a great idea," says Flynn, who served as team lead for the competition. "It requires a solid plan, a great team and an ability to adapt to fill a market need. The Panasci Competition helped us take an innovative, game-changing concept and mold it to fit a business reality. It was instrumental in crystalizing the business concept that will make EMVISS successful in the Buffalo Niagara region." The second-place award of $10,000 went to Emmanuel Oche, MBA '14, and Jeffrey Beacham, MBA '14, for Laundry Box, a drop- off box providing a convenient alternative to doing laundry. Now in its 14th year, the Panasci TEC awards seed money and business services to the team that presents the best plan for launch of a viable new business. Thirteen local ven- tures have been launched with first- place prize money since the com- petition began, and most are still in business. Created by the School of Management and the Office of Science, Technology Transfer and Economic Outreach (STOR), and fund- ed with a $1 mil- lion endowment from the late Henry A. Panasci Jr., the com- petition brings together UB students from science, technology, business and other disciplines to maxi- mize their potential and cre- ate viable businesses in Western New York. x — Jacqueline Molik Ghosen More than $60K in startup funding and services awarded Clockwise from top, Panasci TEC winners Kerdar, Fraczek, West and Flynn.