Mayor David Announces KLAW Industries As Winner of 2021 Binghamton Business Plan Competition
— Annual Contest Awards $5,000 Prize To Support Entrepreneurship In City —
(BINGHAMTON, N.Y.) — Mayor Richard C. David on Wednesday joined officials from the Binghamton Local Development Corporation (BLDC) and SUNY Broome’s Entrepreneurial Assistance Program (EAP) at the Koffman Southern Tier Incubator to announce KLAW Industries as the winner of the 2021 BLDC-EAP Business Plan Competition.
“KLAW Industries exemplifies Binghamton’s legacy of innovation and entrepreneurial spirit,” said Mayor David. “Judges unanimously selected the local start-up, with its business plan of using recycled household glass that would normally end up in landfills to create a stronger form of concrete. Congratulations to KLAW Industries, and best of luck to all the entrepreneurs who participated in this year’s business plan competition. We look forward to your companies’ growth and success in the City of Binghamton.”
KLAW Industries has a proprietary process for extracting recycled glass from the household waste stream, refining it and marketing it as an additive to manufacturing concrete. The company’s recycled glass powder substitutes for fly ash from coal-fired power plants or slag from steel manufacturing, both of which have become increasingly expensive and hard to find.
“We would like to thank the judges and Binghamton Economic Development, as well as all those who helped put this competition together,” said Jacob Kumpon, of KLAW Industries. “We will use the winnings from this competition to scale our process at our new location at 75 Griswold Street in Binghamton. We would also like to thank the Koffman Incubator as well as our local recycling and concrete companies for their continued support.”
As the winner of the 2021 Binghamton Business Plan Competition, KLAW Industries will receive a $5,000 cash award and additional support donated by Binghamton businesses and organizations:
- Five hours of accounting services from Davidson Fox & Co.
- $500 of legal counsel from Coughlin & Gerhart, LLP
- One-year membership in the Greater Binghamton Chamber of Commerce
- $500 in sign creation services courtesy of 3i Graphics & Signs
- $500 in website services courtesy of FreshySites
- $500 in branding services courtesy of Idea Kraft
- Three-month co-working membership at the Koffman Southern Tier Incubator courtesy of Binghamton University and SUNY Broome
KLAW Industries was started by three Chenango Forks High School graduates: Jack Lamuraglia (Clarkson University Class of 2021, Electrical and Mechanical Engineering), Tanner Wallis (Clarkson University Class of 2021, Electrical and Mechanical Engineering) and Jacob Kumpon (Binghamton University Class of 2021, Mechanical Engineering).
The business partners want to stay in Binghamton, grow the company and create industrial job opportunities in the community.
The BLDC-EAP Business Plan Competition is the longest running of its kind in the Greater Binghamton area. The competition seeks to cultivate local business development, promote entrepreneurial spirit and raise awareness about EAP training, BLDC financing and other community resources for small business growth.
The annual competition awards $5,000 and donated support from other local businesses to the participant with the best business plan for developing a business in the City of Binghamton.
KLAW Industries was chosen from among seven finalists in this year’s competition. Non-winners received $50 gift certificates from six different Binghamton restaurants: Thai Time, Little Venice, The Colonial, Cortese Restaurant, Hacienda Mexican Restaurant and Social on State.
Judges for the competition included representatives from Southern Tier 8, the Small Business Development Center, Binghamton University's Office of Innovation & Entrepreneurship and the Triple Cities Makerspace.
The prize money for the competition comes from the annual budget of the BLDC’s Marketing & Outreach Plan, which is funded by the BLDC’s Urban Development Action Grant.
