2021 Binghamton Business Plan Competition
(BINGHAMTON, N.Y.) — 2/26/21 Mayor Richard C. David announced details of the Binghamton Local Development Corporation (BLDC) and SUNY Broome’s Entrepreneurial Assistance Program (EAP) 2021 BLDC-EAP Business Plan Competition, which awards $5,000 to the best plan for developing a business in the City of Binghamton.
“Promoting small business development and entrepreneurship are key objectives of the City of Binghamton,” said Mayor David. “I look forward to seeing the new ideas generated by this competition.”
The Binghamton Local Development Corporation (BLDC) and the Entrepreneurial Assistance Center (EAC) based at SUNY Broome are launching the 12th annual BLDC-EAP Business Plan Competition, which awards $5,000 to the best business plan for developing a business in the City of Binghamton. The competition will be held fully online with technical support provided by the Binghamton University Office of Entrepreneurship and Innovation Partnerships at the Koffman Incubator.
The competition which is the longest running in the Greater Binghamton area, seeks to cultivate local business development, promote entrepreneurial spirit and raise awareness about the EAP training, BLDC financing and other community resources for small business growth. As with prior years’ competitions, organizers anticipate that the award will attract high quality entries, and provide useful assistance to the development of young businesses.
In addition to the $5,000 cash award, the winner will receive additional awards generously donated by Binghamton businesses and organizations:
5 hours of accounting services: Davidson Fox & Co., Binghamton
$500.00 of legal counsel: Coughlin & Gerhart, LLP, Binghamton
One year membership in the Greater Binghamton Chamber of Commerce
$500.00 in sign creation services courtesy of 3i Graphics & Signs, Binghamton
$500.00 in website services courtesy of Freshy Sites, Binghamton
$500.00 in branding services courtesy of Idea-Kraft, Binghamton
3 months free co-working membership at the Koffman Southern Tier Incubator courtesy of Binghamton University
Applicants must plan to start a business or have an existing business that is no more than five years old.
Applicants must demonstrate the ability to finance and open the business in the City of Binghamton within four months of winning the competition and commit to keeping the business in the City for a minimum of three years.
Participants are strongly encouraged to attend a free online “Business Plan Development Workshop” sponsored by Binghamton Economic Development on Wednesday, March 31st 2021 from 5:00pm—7:30pm. To register, please email your request to firstname.lastname@example.org. The workshop is open to any individuals interested in competing and will cover best practices in starting and growing a business.
Links for the application packet with eligibility requirements and important dates are located above or on the SUNY Broome EAP program website and the City of Binghamton’s BLDC page. If you have any questions please contact Binghamton Economic Development at (607) 772-7161 or EcoDev@cityofbinghamton.com.