UB has named Eveliqure Biotechnologies as the fastest-growing business owned or led by an alumnus or former student during the Fast 46 celebration on Sept. 15.
Named in honor of UB’s founding in 1846, the Fast 46 competition recognizes 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 revenues of 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 chair must be UB alumni or former students.
The Fast 46 verification firm, The Bonadio Group, analyzed three years of financial data provided by each company and determined the ranking. Based on its analysis, Eveliqure Biotechnologies, led by Gábor Somogyi, MBA ’03, was named the fastest-growing business as confirmed by revenue growth rates. The biotechnology company developed a novel vaccine-technology platform that induces broad protection against pathogens responsible for diarrheal diseases, endemic in low-income regions. This health problem is a leading cause of child mortality in the world and disrupts 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 Western New York and 5 are located outside the US
“These accomplished alumni business owners are tackling challenges, developing forward-thinking solutions and contributing to economic development here in Western New York and far beyond,” says President Satish K. Tripathi. “As we at UB prepare the next generation of innovators and entrepreneurs, I would like to thank all of the finalists for the example they set for our scholarly community.”
“This competition demonstrates the entrepreneurial spirit of UB graduates and showcases our successful alumni who are building businesses in Western New York, across the nation and throughout the world,” says Thomas McArthur, EdM ’08, associate vice president for 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 the mission we developed while at UB.”
“It’s been a pleasure partnering with UB on this initiative, and we are honored to have served as the official verification firm of the competition,” says Denise Neamon, partner in The Bonadio Group. “On behalf of everyone at our firm, we congratulate the recipients on their success and wish them continued growth in the years to come.”
The UB Alumni Association is the Fast 46 presenting sponsor. In addition to support from The Bonadio Group, Fast 46 is sponsored by Bank on Buffalo and KeyBank.