Binghamton Business Plan Competition has biggest prize yet
BINGHAMTON, N.Y. (WIVT/WBGH) – A contest for new and recently established businesses in Binghamton is now offering its largest prize purse yet.
Details of the 15th annual Binghamton Business Plan Competition were announced today at the Koffman Southern Tier Incubator. The contest is a collaboration between the Binghamton Local Development Corporation and SUNY Broome's Entrepreneurial Assistance Program with support from M and T Bank and The Koffman.
This year, the total amount of prize money has been increased to $10,000, with first place receiving $7,000, second place gets $3,000 and third place receiving $1,000.
Leighton Blackwood, who recently purchased Chroma Cafe and Bakery on Court Street, is a testament to the impact of even a third-place finish. Blackwood says the prize money coupled with a bevy of in-kind services really helped him get off his feet.
'Success is not a solo feat. It takes the input of an entire village. I believe that is really what this competition is about. It's about presenting your vision for what you want to contribute to Binghamton, building that network, learning from those who have been there before and really just creating a roadmap to bring your ideas to life,' Blackwood said.
Among the businesses offering free services, accountants Davidson Fox, web designers Idea Kraft and Freshy Sites, the law firm Coughlin and Gerhart, signage from 3i Graphics and memberships to the Greater Binghamton Chamber and Triple Cities Makerspace.
There will be a free 3-day online Business Development Workshop series offered from 5 to 6 p.m. March 24th through the 26th to assist participants with their application.
For more information, go to the Economic Development page at Binghamton-NY.gov
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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