The region may have a few new businesses on the horizon thanks to the Fredonia Technology Incubator, the university and AT&T, who collaborated to host the first campus-wide student business competition.
Launched last November, the competition challenged students to showcase their entrepreneurial spirit and submit their business ideas for an opportunity receive a one-year residency at the incubator at no cost in an office contributed by AT&T. The winning student group also receives access to all FTI programming and services.
Three finalists were selected based on the viability of their business idea, their product or service, their potential target market, their value proposition and their expected competition and were given the opportunity to pitch their idea to a panel of independent judges. The winners were awarded cash prizes as well as office space in the incubator and incubator services that include professional mentoring.
The winners were announced after the finalists’ live pitch portion of the competition during a recent ceremony at the incubator. The grand prize winner was Ryan Alonge for his plan to develop a children’s play museum in Dunkirk. He was awarded free office space in the incubator for a year and a cash prize of $500.
ArcAtlas Records and its principles, Michael Gonzalez-Kelly, Virginia Croft and Ariel Arellano, were awarded second place. ArcAtlas Records, which currently resides in the incubator, was awarded six free months of office space as well as a $250 cash prize.
“We have very talented entrepreneurs at our university,” said incubator director Chuck Cornell. “As we continue to expand our programs here, there will be greater opportunities afforded to our students. This competition promotes the retention of talent in our community and I am grateful to AT&T for their continued support,” Mr. Cornell added.
It was an honor to have collaborated with the State University of New York at Fredonia and the Fredonia Tech Incubator on this business competition to provide young local entrepreneurs the opportunity to showcase their intellect, passion and ingenuity, said Benjamin Roberts, director of Public Affairs, AT&T.
“AT&T’s support for this event grows out of its commitment to foster local innovation by providing entrepreneurs with the resources they need to positively impact their communities and strengthen the entrepreneurial economy of Western New York,” Mr. Roberts added. “We wish them the best of luck on their business ideas and urge them to take advantage of the Fredonia Tech Incubator, which will be a tremendous resource for the winners to help them refine their products and services with support and guidance from their seasoned mentors.”
Judges for the competition included: Kevin Hanna, director of External Affairs at AT&T; Aaron Resnick, co-founder of TimberFish and executive director of Westfield Development Company; Doug Manly, mentor and former president and CEO of RHM Groceries; Nick Gunner, CEO of Orbitist; and Roberts.
The incubator, a “mixed-use” business incubator with a focus on arts and technology-based startups, promotes economic growth in Western New York by supporting entrepreneurship and the development of new, innovative companies into successful business ventures. It provides business services, support, networking and educational opportunities for startup businesses and is housed within Fredonia’s Division of Engagement and Economic Development, which oversees the university’s economic development programs, including StartUp NY.
