UB ranked Eveliqure Biotechnologies as the fastest growing business owned or led by a graduate or former student during its Fast 46 celebration on September 15.
It was named in honor of the founding of UB in 1846, and fast 46 competition Recognizes successful businesses led or owned by UB alumni or past students. To be considered a Fast 46 finalist, eligible firms must have been in business for at least three years; Have verifiable revenue of at least $100,000 or more in 2018 and 2019, and at least $250,000 in 2020; The owner, CEO, president, managing partner, director, or president must be a UB alumni or former student.
Fast 46 verification firm, The Bonadio Group, analyzed three years of financial statements submitted by each company and determined the ranking. Based on its analysis, Eveliqure Biotechnologies, led by Gábor Somogyi, MBA ’03, has been ranked as the fastest growing business as confirmed by its revenue growth rates. The biotech company has developed a new vaccine technology platform that provides broad protection against the pathogens responsible for diarrheal diseases, endemic to low-income areas. This health problem is a major cause of child mortality in the world and travel disruptions to these areas.
More than 350 companies have been nominated for this award. Of the 46 finalists, 25 are from western New York, 16 are US companies outside western New York and 5 are outside the US
President Satish K. “As we at University at Buffalo 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 entrepreneurship of UB alumni and showcases our successful alumni building their businesses in western New York, across the country and around the world,” says Thomas MacArthur, EdM ’08, Associate Vice President of Alumni Engagement and Annual Giving. .
“We are honored to receive such a prestigious award among so many great companies,” says Somogyi. “It reinforces that we can do great things from Buffalo; we just have to believe in ourselves, be brave and build on the knowledge and mission we developed while at the University at Buffalo.”
“It has been a pleasure to partner with UB on this initiative, and we are honored to serve as the official verification company for the competition,” says Denise Neamon, Partner at the Bonadio Group. “On behalf of everyone in our company, we congratulate the beneficiaries on their success and wish them continued growth in the years to come.”
The UB Alumni Association is the presentation sponsor of Fast 46. In addition to support from the Bonadio Group, Fast 46 is sponsored by Bank on Buffalo and KeyBank.