Release Date: November 27, 2019
BUFFALO, N.Y. — The University at Buffalo is launching a new competition for alumni and former students who own or lead businesses.
Named in honor of the university’s founding in 1846, the UB Fast 46 competition will recognize and celebrate the success of 46 of the fastest-growing businesses owned or led by alumni or former students around the world.
“We were inspired by Buffalo’s economic resurgence, the strength of the business community and the entrepreneurs who have come out of UB,” said Cynthia Khoo-Robinson, UB’s associate vice president for alumni engagement and annual giving. “Fast 46 is a unique way for successful business leaders to compete for a ranking among their peers.”
The process to be considered for Fast 46 is twofold: Initial nominations — which may be self-submitted or by a third party — followed by a formal application.
Eligible companies must have been in business for at least three years; have verifiable revenues of at least $100,000 or more in 2016 and 2017, and at least $250,000 in 2018; and the owner, CEO, president, managing partner or chairman must be a UB alumnus or former student. Nominations for Fast 46 are available online at http://www.buffalo.edu/alumni/get-involved/fast46.html.
Companies will be ranked by the percentage of cumulative annual growth in revenue for the three most recent 12-month reporting periods. The 46 companies with the highest revenue growth rates will be selected and honored at an event in October 2020.
The Bonadio Group, a Top 50 CPA firm with offices in Buffalo, throughout New York State and beyond, will be verifying the revenue growth rates for each of the companies as the official audit firm for the competition.
“We’re thrilled to partner with UB on this initiative,” said Denise Neamon, Buffalo-based partner with The Bonadio Group. “As both a UB alum and a graduate of UB’s Center for Entrepreneurial Leadership program, I’m extremely passionate about recognizing and rewarding individuals and companies that are excelling since their time at our alma mater.”
“We hope businesses will apply annually to maintain or grow their ranking, indicating they are continuing to thrive and succeed,” Khoo-Robinson said.