The door closes. This is it.

For the next half hour, Salvatore D’Amelio and his three teammates, Matthew Malone, Graham Tuttle and John Cuyler, pitch their Some Where Out There business plan to a panel of judges who could make or break their entrepreneurial plans.

Some Where Out There, an outdoor sporting goods manufacturing company, was one of 16 semi-finalist groups competing for the Panasci Business Plan Competition’s $40,000 worth of prizes Friday and Saturday at the Whitman School of Management.

The team tied for second overall in the competition, and Dream Water, an all-natural sleep supplement envisioned by the youngest entrepreneurs at the event, won first place.

‘We are here because we love to design, conceptualize and innovate,’ said Matthew Malone, a fifth-year industrial design major and one of the Some Where Out There designers.

After the Friday presentations, Malone, his teammates and their fellow competitors waited in the Whitman Grand Hall for the judges to announce the top five finalists of the 16 teams who would continue on to Saturday’s judging.

Each team was required to have some sort of connection to Syracuse University, but not all group members were SU students.

An hour and a half later, Michael Morris, chair of the entrepreneurship and emerging enterprises department, called the attention of the eager crowd and began announcing the finalists in random order.

The first finalist group announced was Light Innovation, a medically orientated group designed to provide testing to diagnose eye disorders. Another finalist was Let Us Fish, a 1-year-old organic produce company, which plans on growing lettuce and tilapia using environmentally friendly materials. Water Enhancement Technologies, Inc, which seeks to install salt-water to fresh-water conversion pumps in nations across the globe, was named fourth.

As Morris called off each finalist, the Some Where Out There team members sat on the edges of their seats. A look of disappointment washed over Graham Tuttle’s face as one-by-one their opportunity slipped from them – until Morris announced that Some Where Out There had made the top five and would move on to the next round.

SWOT teammates Tuttle and D’Amelio clapped vigorously and jumped from their chairs in excitement.

The five finalist teams traded their wine for coffee, met with the judges who scored their presentations and left to prepare for what could easily become one of the most important days of their lives, Tuttle said.

On Saturday, all of the teams came in early to prepare. Suits freshly pressed, hair styled to perfection and coffees-in-hand, the teams presented their business plans to a new panel of judges.

Sophomores Michael Gursha and Gregory Porpiglia of Dream Water waited anxiously in the lobby outside the Whitman Auditorium, but Gregory’s brother, Vincent, didn’t seem to break a sweat.

‘We’ve worked constantly on this product, day in and day out,’ Gursha said. ‘Being the youngest team here and winning just shows how ambitious we are.’

While Dream Water presented, the members of SWOT prepared outside the auditorium. In their business suits, they didn’t look like they should be presenting an outdoor business plan. But Tuttle, D’Amelio, Malone and Cuyler stood confidently during their 40-minute presentation.

A banquet Saturday evening honored students and professors who have contributed to the advancement of entrepreneurship throughout the year. Several hours later at the end of the ceremony, the Panasci Business Competition prizes were awarded.

WET, Inc. was given the first honorable mention and received $1,000 for the technology award.

Let Us Fish received the second honorable mention and small funds contributed by an anonymous donor.

Morris paused to tell the audience that there would be no third place prize this year because the competition was so tough. Instead, there would be two second place prizes in the amounts of $7,500 each.

‘The first second-place winners are team Light Innovation,’ Morris said.

Applause immediately follows, and the competition comes down to Dream Water and SWOT.

SWOT members sigh. D’Amelio pulls at his hair while Malone wipes sweat off of his forehead.

At the Dream Water table, Gregory bites his lip, Michael clasps his hands and keeps looking down. Vincent finally breaks a sweat, covering his face with his hand.

Morris continues with the ceremony.

‘Our second-second place winners are team Some Where Out There.’

The applause heightens, and looks of relief rush across Dream Water’s table. Vincent’s father smiles, claps and gives his son a pat on the back.

‘Who’d have thought that a product that makes you go to sleep would walk away the winners,’ Morris said. ‘The winners of the 2008 Panasci Business Competition are team Dream Water!’

‘I’m extremely proud,’ said Vincent Porpiglia, father of Vincent and Gregory Porpiglia, Dream Water’s inventors.

Justin Carlucci, a Syracuse graduate student and coordinator of the Panasci Business Competition, noted that the competition brings publicity and networking even for students who don’t win.

‘The outside community has been informed,’ Carlucci said. ‘Business leaders from Central New York are here to judge, and if the judges see a business that they like, they can get those team members in contact with people who can help them succeed.’

Vincent Porpiglia envisioned the product three years ago and has dedicated the last year to constant work on his Dream Water sleep supplement. He stood in the Grand Hall holding his check for $25,000 and said, ‘It was all a dream.’

rdjone03@syr.edu

Published on April 20, 2008 at 12:00 pm