Mr. Kerben, a finance major from Great Neck, NY, presented his plan for his venture company Bionex Corp., which seeks to provide fingerprint recognition technology for credit card purchases. He is currently working with several banks and credit card issuers across the United States to introduce the biometric credit card.
“The fact that I received an honorable mention from Palo Alto is a personal milestone,” he said. “It sends a clear message to me and to my classmates at Sy Syms that the institution and professors really prepare students for writing an exceptional and award-winning business plan.”
Mr. Kerben’s business plan also received third place and $2,000 in Sy Syms’ Dr. William Schwartz Business Plan Competition held last March.
“Reuben has all the instincts of a dedicated entrepreneur whose keen sense of market need will play a major role in his future success,” said Lawrence Bellman, assistant professor of management and marketing at Sy Syms. “In an undergraduate entrepreneurial program, students who are tasked to conceive a business idea and write a business plan usually do so without the business experience that enables the venture to succeed. Reuben’s efforts reflect a business person’s view of a market need and the tools needed to successfully launch a new venture.”
Palo Alto Software develops and markets business planning software. Contestants in its business plan competition are judged by business planning experts on various criteria, including management strengths, nature of the business case, business strategy, and competitive analysis.