Whitman School holds annual ‘Best of the Best’ Panasci Business Plan Competition

Whitman School holds annual ‘Best of the Best’ Panasci Business Plan Competition April 17, 2006Amy Schmitzaemehrin@syr.edu

The Falcone Center for Entrepreneurship in the Whitman School at Syracuse University will hold the 2006 Panasci Business Plan Competition on April 21 and 22. Teams from across campus will compete for the prize start-up money totaling $40,000.

From an initial pool of nearly 70 teams entered at the beginning of the year, the best 16 business plans have been selected; those student teams will compete in the semi-finals April 21 from 1:30-4:30 p.m. The top four teams will advance to the finals April 22 from 1:30-4:30 p.m. in Lender Auditorium, located on the concourse level of the Whitman School building. The finals are free and open to the public.

The Panasci Business Plan Competition is named for Henry Panasci, the founder and former chair of Fay’s Drugs. The competition is designed to spur the entrepreneurial spirit of students at SU and the SUNY College of Environmental Science and Forestry in creating growth-oriented businesses. The prize money, experience and training given to students have enabled several student-owned businesses to get a great start. Individuals from the community are allowed to participate as team members, as long as at least one team member is enrolled as a full-time student at SU or ESF. Submissions must be the team’s original work and ideas.

“The Panasci Business Plan Competition is an incredibly exciting event in the Whitman School each year,” says Nola Miyaski, executive director of the Falcone Center. “Students from across the campus compete. It is an opportunity for them to show the judges, as well as to prove to themselves, that they have what it takes to compete in the real world and to actually launch a viable business.”

Entries are judged on the innovativeness of their idea, the viability of the proposed venture, the quality and comprehensiveness of the written plan, and the quality of the oral presentation. The team’s potential for successful implementation and sustainability of its proposed venture is a crucial factor in determining the award winners. Judges for the Panasci Business Plan Competition include successful entrepreneurs and investors from New York state and across the United States.

Paid public parking is available at the University Avenue Garage. For more information, contact Shelly Heinrich, events coordinator, at (315) 443-3550 or slheinri@syr.edu.