Student teams from SUNY Geneseo’s VentureWorks entrepreneurship program captured a total of five wins in this year’s New York State Business Plan Competition in Albany April 24, including a first and third place prize.
Winning one of six first place prizes in the biotechnology/healthcare track was Geneseo’s TrainSmart team, in collaboration with the University of Rochester Medical Center, a venture focused on commercializing “smart diapers” for children with autism. The team will receive $10,000 cash and in-kind services.
Receiving a third-place recognition in the information technology track and $1,500 cash was VisoWorld, a matchmaking service for students interested in study abroad opportunities.
Geneseo teams also won three recognition awards: Obiex, which produces DNA taggants for anti-counterfeiting applications, received an Undergraduate Excellence Award in the advanced technology/nanotechnology track; TerraPellets, which produces pelleted switchgrass as an alternative fuel, received an Undergraduate Excellence Award in the energy/sustainability track; and the Ashley Parrington Co., which produces unique jewelry, won an Espirit de Corps Recognition Award in the products/services track.
“I’m very proud of how our students performed in the competition,” said Judith J. Albers, the Charles L. “Bud” VanArsdale Endowed Chair for Entrepreneurship at Geneseo. They worked very hard on their organization and presentations and they obviously impressed the judges. It’s a great pleasure to watch the students develop their ventures and then watch them succeed.”
The NYBPC competition began five years ago. Three Geneseo teams advanced to the statewide competition last year. The NYBPC is a venture creation and innovation competition to encourage innovation and entrepreneurship throughout New York’s colleges and universities.
About 90 teams pitched their business plans in the final round competition with teams from 37 colleges and universities from nine other New York Regional Economic Development Council zones. A team from Cornell University advanced to win the grand prize of $100,000 cash and in-kind services.