Buffalo, NY – The University of Buffalo named Eveliqure Biotechnologies the fastest growing business owned or led by an alumni or former student at Fast 46 Celebration on Thursday, September 9. 15.
The Fast 46 competition is named in honor of UB’s founding in 1846. Its mission is to recognize successful businesses led or owned by UB alumni or former students. To be considered a Fast 46 finalist, eligible companies 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; owner, CEO Officers, presidents, managing partners, directors or chairmen must be UB alumni or former students.
Fast 46 verification firm The Bonadio Group analyzed three years of financial data provided by each company and determined the rankings. According to their analysis, Eveliqure Biotechnologies, led by MBA ’03 Gábor Somogyi, was named the fastest growing business, as confirmed by revenue growth rates. The biotech company has developed a novel vaccine technology platform that provides broad protection against a diarrheal disease pathogen prevalent in low-income settings. This health problem is the leading cause of death among children in the world and disrupts travel to these regions.
More than 350 companies were nominated for this award.Of the 46 finalists, 25 companies are from Western New York, 16 are U.S. companies outside Western New York, and 5 are located outside the United States
“These accomplished alumni business owners are meeting challenges, developing forward-looking solutions, and contributing to economic development in Western New York and beyond,” said UB President Satish K. Tripathi. “As we prepare the next generation of innovators and entrepreneurs at UB, I want to thank all the finalists for the example they set for our academic community.”
“This competition showcases the entrepreneurial spirit of UB graduates and showcases our successful alumni who are building businesses in Western New York, across the country and around the world,” said Thomas McArthur, VP of Alumni Engagement and Annual Giving, EdM ’08.
“We are honored to receive such a prestigious award among so many great companies,” Somogyi said. “It reinforces that we can do great things in Buffalo; we just have to believe in ourselves, be brave and build on the knowledge and mission we cultivate at UB.”
“It is a pleasure to partner with UB on this initiative, and we are proud to be the official verification company for the competition,” said Denise Neamon, Partner at Bonadio Group. “On behalf of everyone in our company, we congratulate the winners 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 sponsored by Bank on Buffalo and KeyBank.