City of Binghamton, New York

2018 Binghamton Business Plan Competition

 

 

 

 

 

The 9th Annual BLDC-EAP Business Plan Competition sponsored by the Binghamton Local Development Corporation (BLDC) and the Broome Triad Entrepreneurial Assistance Program (EAP) based at SUNY Broome Community College is underway. This annual contest awards cash to the best plan for developing a new business in the City of Binghamton!

In April of this year local entrepreneurs and inventors will compete for not only a $5,000.00 minimum cash prize but a suite of professional services including legal consultation, accounting services website and other design services.

Now in its ninth year the competition is the longest running of its kind in the Binghamton area, and is open to inventors, entrepreneurs, and students from Binghamton University, SUNY Broome, and local high schools.

“Promoting small business development and entrepreneurship are key objectives of the City of Binghamton” said Mayor Richard C. David, “I look forward to seeing the new ideas generated by this competition.”

Previous winners include several highly successful businesses such as Tesorina BoutiqueNext Wave Motors, FreshySitesCommunikey, and Idea-Kraft. Tesorina Boutique, a women's fashion store is located downtown and has just opened an online business; Next Wave Motors is pursuing intellectual patents for an electric motorcycle conversion kit; Communikey employs a marketing team of seven in downtown Binghamton; FreshySites now has twelve offices including its newly expanded Front Street Binghamton location; and Idea-Kraft has become a mainstay graphics creation and internet advertising design firm.

“The BLDC Business Plan Competition grants the largest prize package of any local business plan competition and it encourages great applications.” said BLDC Executive Director, Robert Murphy.

A free workshop will be offered before the start of the competition on March 28th at the Holiday Inn Arena, Southern Tier Room from 5:00 - 8:00 PM. Participants in the workshop will get advice from bankers, small business advisors and successful entrepreneurs on how to write a business plan and present their idea. The workshop is open to all interested parties.

The deadline for applications is April 4th. Finalists will present their business plans before a panel of judges made up of local business owners and leaders in professional industries such as banking and law. Those interested in attending the workshop and entering the competition are encouraged to review the online application and/or call the office of the Binghamton Local Development Corporation at (607) 772-7161 for more information and guidelines. Please check back on this website for updates and additional information.