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UB named Evlicure Biotechnology the fastest-growing business owned or led by an alumnus or former student on Sept. 15 during its Lenten 46 celebration.
Named in honor of UB’s founding in 1846, the Fast 46 competition recognizes successful businesses run or owned by UB alumni or alumni. Companies eligible to be Fast 46 finalists must have been in business for at least three years. Those who earn at least $100,000 or more in 2018 and 2019, and at least $250,000 in 2020; and the owner, CEO, president, managing partner, director or chairman must be a UB alumni or alumni.
The Fast 46 certification firm, The Bonadio Group, analyzed three years of financial data provided by each company and determined the ranking. According to the analysis, Eveliqure Biotechnologies, led by Gabor Somogyi, MBA ’03, was named the fastest-growing business as evidenced by revenue growth rates. The biotechnology company has developed a new vaccine-technology platform to combat the pathogens responsible for diarrheal diseases in low-income regions. This health problem is the leading cause of death for children in the world and cuts off travel to these areas.
More than 350 companies were nominated for this award. Of the 46 finalists, 25 companies are from Western New York, 16 are US companies outside of Western New York, and 5 are located outside of the US.
“These talented alumni will help business owners solve challenges, develop forward-thinking solutions, and contribute to economic growth here in Western New York and beyond,” said President Satish K. “As we at UB prepare the next generation of innovators and entrepreneurs, I want to thank all of the finalists for the example they set for our academic community.”
“This competition showcases the entrepreneurial spirit of UB alumni and showcases our successful alumni who are building businesses in Western New York, across the country and around the world,” said Thomas MacArthur, AdM ’08, associate vice president for alumni engagement and annual giving. .
“We are honored to receive such a prestigious award among so many great companies,” said Somogi. It reinforces that we can do great things from Buffalo; We need to believe in ourselves, be bold and build on the mission we developed while at UB.
“It was a pleasure working with UB on this initiative, and we are honored to serve as the official certifying organization of the competition,” said Denise Niamon, partner at Bonadio Group. “On behalf of everyone at our company, we congratulate the recipients on their success and wish them continued growth in the years to come.”
The UB Alumni Association is a sponsor of Fast 46. In addition to support from The Bonadio Group, Fast 46 is also backed by Buffalo and KeyBank.
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