GENESEO, N.Y. – A SUNY Geneseo VentureWorks team won second place and two others received awards of recognition in the finals of the New York State Business Plan Competition in Albany April 28. Geneseo’s teams were among 103 from 60 colleges and universities in the statewide competition.
Taking second place and a $5,000 prize in the Clean Technology Track was team Verdimine, which explores green synthesis of green chemicals. An Undergraduate Excellence Recognition Award in the Social Entrepreneurship/Non-Profit Track went to the StandUp Leadership team, which coordinates high school conferences for college recruitment. An Expirit de Corps Recognition Award in the Products Track went to the Budamundi Lifestyle team, which develops ancient grain protein bars.
"It was another strong showing for Geneseo students at this competition, which gets stiffer every year," said Judy Albers, the Charles L. "Bud" VanArsdale Endowed Chair for Entrepreneurship at Geneseo and adviser to the VentureWorks Program. "There were many outstanding teams at the competition, including several from large universities, and our students are always in the running. I've quite proud of their efforts."
Currently in its eighth year, the New York Business Plan Competition enables each student-led team to explain their innovation in a set amount of time, with teams competing against others whose products, services, or developed ideas fall within a similar category, or track. Participants gain valuable experience going before panels of national venture capitalists, angel investors, investment bankers, and seasoned entrepreneurs who serve as judges; they provide the student teams with important feedback and a chance to understand how their pitch might be received in the “real world.” The competition is co-presented by SUNY Poly and the University at Albany.
“We are thrilled that The State University of New York can once again partner with schools and businesses from throughout the state for this inspiring competition at SUNY Poly,” said SUNY Chancellor Nancy L. Zimpher. “By bringing some of our most innovative students together with the industry experts who can turn their ideas into actual products or services, the New York State Business Plan Competition continues to offer a unique experience for students while also supporting community development and entrepreneurship in every region of the state.”
Media Contact:
David Irwin
(585) 245-5529
Irwin@geneseo.edu