Penn State Intercom......May 10, 2001

U2B team winner named in
inaugural business plan contest

The winning team in the inaugural U2B (University-to-Business) Fox Challenge has been announced by Raymond Lombra, associate dean of the College of the Liberal Arts. Following final presentations by the finalists on April 25, a panel of University and business leaders has selected Aryam as the winning business.

Aryam intends to create a research and development business that will focus on knowledge creation and transfer.

In addition to team leader Uday Turaga, a doctoral student in fuel science, the Aryam team members include Kaushik Raha, a doctoral student in life sciences; Michael Sprague, a master's degree student in fuel science; and Ryan Zarnitz, a senior majoring in chemical engineering.

The U2B Fox Challenge, a University-wide business-plan contest, was initiated to engage students in entrepreneurship, from conceptualization and planning through the launching of a new company. It is the brainchild of alumnus Ken Fox, a 1993 economics graduate in the College of the Liberal Arts. Fox is the co-founder and managing director of Internet Capital Group Inc., a company engaged in business-to-business e-commerce.

The contest kicked off last September in the HUB-Robeson Center with participation by more than 400 people that resulted in the submission of 195 business plan summaries.

The Aryam group will be given seed money to help facilitate the next steps in its business development. As the company becomes a viable entity, Fox expects additional capital will be available for it.

While the competition was open to all Penn State students, it was based in the College of the Liberal Arts because of the importance that is placed there on communication skills, team building and critical thinking -- elements that are necessary for the development of successful business ventures.

A review panel, in addition to Ken Fox, included alumnus Bob Capretto, an entrepreneur and oral surgeon in Pittsburgh; and Gary Weber, assistant vice president for research and director of technology transfer. The panel reviewed the semi-finalists' business plans and provided input that the teams incorporated into their final presentations.

Additionally, the teams had access to expertise off-campus as they developed their business plans. SCORE -- Counselors to America's Small Businesses, Central Pennsylvania Chapter, provided assistance to both semi-finalist and finalist teams.

In addition to Aryam, the other finalists were:

* Adiella -- offshore outsourcing service providing Web and software development. Team members are: Husam Ali Brohi, Ali Chaudhry, Sobia Chaudhry and Auzim Sultan;

* Pleasant Cove -- senior day care and home assistance franchise. Team members are: Heather Bergman and Mark Bergman; and

* Vasor -- customizable online product support service. Team members are: Laura Beck, Richard Kaplan, Colin Murphy, Justin Plock, John Ruiz, William Them and Luis Valbuena.

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