Statewide Business Plan Competition that has been held since it started in Albany is in jeopardy.
The annual statewide Business Plan Competition that has had 2,100 students from more that 70 New York’s colleges and universities pitch their business activities at a competition in Albany at the Zen building at what was the Nano College. The competition has 10 regional rounds and the top teams from each round come to Albany for the the final round of the statewide competition for the grand prize.
The Nano College is now SUNY PI that is now linked to SUNY’s Utica College. SUNY PI has decided that the Business Plan Competition doesn’t fit its “core mission” in terms of being a nano research organization. Not long ago, SUNY PI announced announced it was going to have a nursing school. I wonder how that fits its core mission.
SUNY PI has been going though change after founding President Alain Kaloyeros was arrested and resigned in 2016. Kaloyeros pleaded not guilty to charges against him and he is expected to face trial this summer.
Noa Simons, an investor and entrepreneur, who is executive director of of Upstate Capital, a statewide organization that seeks to attract more venture capital and private equity to upstate New York along with other tech activists are seeking to form a coalition to take over the Competition on a long term basis. In the mean time the competition is in limbo.
All I can say is shame on SUNY PI for throwing the Business Plan Competition overboard. It is not good for Albany, for the State and for SUNY PI to throw a successful tech initiative overboard.