Syracuse Sun

The 2024 Panasci Business Plan Competition at Syracuse University's Whitman School of Management has awarded a total of $40,000 in prize money to the winning teams, showcasing innovative ideas from budding entrepreneurs. According to Cristiano Bellavitis, assistant professor of entrepreneurship, this year's event saw a significant increase in student participation compared to the previous year, with twice as many students competing.

First place and the Gilded Rising Social Entrepreneur Award were claimed by Natasha Brao, founder of Shooka, who received $20,000 and an additional $5,000. Brao's product is a spiced tomato sauce inspired by the traditional Mediterranean dish shakshuka. She expressed her excitement, stating, "The prize money will help assist me with production, transportation, and inventory holding costs, as well as allow me to focus on growing our sales in the next few months."

Iconnic.cloud, a cloud management solution for small and mid-sized enterprises, secured the second-place position, with founder Waqar Hussain being awarded $7,500. The platform aims to simplify the transition of business and web solutions to the cloud, making cloud technology accessible and cost-effective for SMEs.

In third place was Aggregate, a digital platform co-founded by Brielle Young, which aims to connect producers and consumers in local communities. Young, along with co-founder Ezra James, received $2,500 and the Learn Fresh Award for Social Entrepreneurship worth $5,000. Aggregate's mission is to promote local commerce and sustainability by empowering producers to share their goods and stories with consumers.

The event was made possible by sponsors such as David Panasci, Scott Friedberg, and Nick Monzi, who contributed to the prize money for the competition. Judges for the competition included a diverse group of industry professionals who provided valuable feedback to all participants, regardless of their placement.

The Panasci Business Plan Competition continues to be a significant event on campus, providing students with the opportunity to showcase their entrepreneurial skills and receive support to turn their business plans into reality.