The WNY Consortium of Higher Education’s second annual collegiate business pitch competition will be held Friday in the University at Buffalo’s Student Union.

The WNY Student 2 Biz Challenge will pit 35 students from eight schools, competing along six tracks. The top 10 teams will advance to the Albany competition where they’ll have the chance to win $500,000 in prizes. The event will run from 8 a.m. to 4:30 p.m., with registration and breakfast at 7 a.m.

The teams will submit pitches in the categories of biotechnology/health care, nanotechnology, energy sustainability, information technology/software, products/services and entrepreneurship/nonprofit.

The first place pitch will win $1,500 and will be presented with the “traveling” Best All-Around Pitch trophy to display for a year at their school. And second place pitch will win $1,000.

Organizers say the competition is vital in building the region’s entrepreneurial ecosystem.