Nanotechnology Now

Our NanoNews Digest Sponsors


Heifer International

Wikipedia Affiliate Button


DHgate

Home > Press > UB Entrepreneurship Competition Launches Nanotech Business

Abstract:
Two teams won more than $35,000 in cash in the University at Buffalo's Henry A. Panasci Jr. Technology Entrepreneurship Competition (Panasci TEC) for their innovative ideas in nanotechnology and Internet mentoring.

UB Entrepreneurship Competition Launches Nanotech Business

Buffalo, NY | Posted on April 26th, 2008

Panasci TEC, now in its eighth year, awards seed money and business services to the teams that present the best plan for launch of a viable new business. Nine local ventures have been launched with first-place prize money since the UB competition began and most are still in business.

Krishnan Chakravarthy of Williamsville, Darren Leskiw of Lockport, Indrajit Roy of Amherst and Tom Sass of Cheektowaga won the $25,000 first prize for their proposed business, NanoAxis, a nanotechnology company that will design and manufacture specialized quantum dots for biological applications.

The second-place prize of $10,000 in start-up funding went to Andrew Broczkowski of Hamburg, Jeffrey Goldberg and Laura Oberg, both of Williamsville, for their proposal, mentor café, a Web site and software designed to facilitate a mentorship network on the Internet.

Quantum dots are nano-sized semiconductor materials that absorb light, then re-emit the light at a different wavelength creating a spectrum of colors. The company will specialize in modifying the surface of their quantum dots for diagnostic imaging and drug delivery. NanoAxis says that when linked to a therapeutic drug, their quantum dots will ensure a safe and precise delivery of the drug to a targeted site.

"Helping high-tech companies like NanoAxis launch and grow in Western New York is a role UB is uniquely capable of playing in our region's economy and is exactly why this competition is held each year," said John M. Thomas, dean of the UB School of Management.

Members of the winning team said UB's Panasci competition provided them with a framework for asking the tough questions necessary for success. To create their technology the team worked closely with UB faculty Paras Prasad, Ph.D., Distinguished Professor and Capen Chair of Chemistry, and Paul Knight, M.D., professor of anesthesiology and microbiology.

"Thanks to the vision and hard work of our team, we are ready to take the next step in

establishing a high-tech, nanotechnology-based company in Buffalo," said Sass.

"The competition has opened the door for NanoAxis to interact with various scientific partners at the University of Buffalo," added Chakravarthy. "NanoAxis is going to be the cornerstone of cutting-edge translational research, providing more selective and targeted medical therapy."

The first-prize package includes $25,000 in seed funding, one year of legal services from Jaeckle Fleischmann and Mugel, one year of accounting services from Bechtel, Kopin & Company PC, and one year of office space supplied by North Forest Office Providers.

The competition is designed to bring students from science and technology disciplines together with students or recent graduates from the School of Management to maximize their business and scientific potential and create viable businesses in Western New York.

Twelve teams entered this year's competition and five teams of finalists presented their business plans publicly in the competition's final round on April 23 in the Jacobs Executive Development Center.

Other new venture ideas included a company that would provide contracted pharmaceutical research services, a proposal for a technology that improves the delivery of distance education and a virtual marketplace where parking providers can compete in real time for parking customers.

Serving as judges for the event were Robert H. Fritzinger, CEO, Zenhire Inc.; Thaddeus H. Grasela Jr., president and CEO, Cognigen Corp.; James Hengst, president and CEO, ZeptoMetrix; Marnie LaVigne, director of business development, UB's New York State Center of Excellence in Bioinformatics and Life Sciences; Mel Passarelli, vice president, North American operations, Attunity Inc.; and Brian Pearson, president, Valuation Advisors LLC.

Panasci TEC was created by the UB School of Management and the UB Office of Science, Technology Transfer and Economic Outreach, and is funded with a $1 million endowment from the late Henry A. Panasci Jr., UB alumnus and former CEO of Fay's Inc., to facilitate and promote the commercialization of UB-generated technologies.

The Wall Street Journal ranks the UB School of Management ninth in the nation among schools with strong regional recruiting bases. In addition, BusinessWeek ranks the school as one of the country's top five business schools for the fastest return on MBA investment, and Forbes cites it as one of the best business schools in the U.S. for the return on investment it provides MBA graduates. For more information about the UB School of Management, visit mgt.buffalo.edu

####

About University at Buffalo
The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system that is its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.

For more information, please click here

Contacts:
Jacqueline Ghosen

716-645-2833

Copyright © University at Buffalo

If you have a comment, please Contact us.

Issuers of news releases, not 7th Wave, Inc. or Nanotechnology Now, are solely responsible for the accuracy of the content.

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Nanoparticles present sustainable way to grow food crops May 1st, 2016

Searching for a nanotech self-organizing principle May 1st, 2016

Clay nanotube-biopolymer composite scaffolds for tissue engineering May 1st, 2016

Cooling graphene-based film close to pilot-scale production April 30th, 2016

Academic/Education

JPK reports on the use of a NanoWizard AFM system at the University of Kaiserslautern to study the interaction of bacteria with microstructured surfaces April 28th, 2016

The Ottawa Hospital Research Institute uses the ZetaView from Particle Metrix to study membrane microparticles as potential biomarkers for underlying diseases April 12th, 2016

FEI Partners with Five Pharmaceutical Companies, the Medical Research Council and the University of Cambridge to form Cryo-EM Research Consortium April 5th, 2016

SUNY Poly, in Collaboration with the George Washington School of Medicine and Health Sciences and Stony Brook University, Demonstrates Pioneering Method to Visualize and Identify Engineered Nanoparticles in Tissue March 25th, 2016

Announcements

Nanoparticles present sustainable way to grow food crops May 1st, 2016

Clay nanotube-biopolymer composite scaffolds for tissue engineering May 1st, 2016

Cooling graphene-based film close to pilot-scale production April 30th, 2016

Personal cooling units on the horizon April 29th, 2016

Grants/Awards/Scholarships/Gifts/Contests/Honors/Records

Brookhaven's Oleg Gang Named a Battelle 'Inventor of the Year': Recognized for work using DNA to guide and regulate the self-assembly of nanoparticles into clusters and arrays with controllable properties April 25th, 2016

Zip software can detect the quantum-classical boundary: Compression of experimental data reveals the presence of quantum correlations April 21st, 2016

Making electronics out of coal: Instead of burning up this complex hydrocarbon, let's make devices from it April 20th, 2016

Nano-magnets produce 3-dimensional images: Wide-view 3-dimensional holographic display composed of nano-magnetic pixels April 20th, 2016

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More











ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







Car Brands
Buy website traffic