I currently attend the University at Buffalo, and am in my fifth year enrolled in a joint 2/3 Electrical Engineering and Masters in Business Administration program. This has given me the ability to enter Stickerlight into the university’s annual Panasci Business Plan competition. This was my second time in the competition, having entered last year with a different group.
The competition started three months ago with 27 teams presenting in the first elimination round. After the first presentation, we were narrowed down to 15 teams. After a second presentation, we were narrowed down to 9 teams. At that point, the remaining teams submitted their business plans and we were narrowed down to 5 teams. On April 19th, the final 5 remaining teams competed live via powerpoint presentation.
First place went to a spectacular nanotechnology based idea, winning them $52,000 total in seed funding and in-kind legal services. Second place went to Stickerlight! I took home a nice large cardboard check valued at $10,000 in seed funding to help develop the business.
I will be immediately planning on using the funds to develop a new circuit for the product with an electrical engineering friend of mine in Buffalo.
Also, as I mentioned in my last post, I’ve been working with some fairly well known electronic dance musicians in order to get some endorsements. I will be traveling to meet and deliver custom Stickerlight panels to DJ BL3ND, Dubfire, Klaypex, and also the newly added endorsement with Krewella. I’ll be sure to take lots of photos and videos along the way with the intent of creating an awesome YouTube video in the future, or potentially launching a KickStarter campaign to officially launch the product.
Lastly, I’ve also entered Stickerlight into one last business plan type contest being held in Boston. You can find more information about them at Bolt. It’s a 6 month startup incubator focused on physical products. I will find out on June 4th if I am accepted into the program, and am very hopeful. Wish me luck!
Panasci Win Reference: