Mayor Kraham Announces Competition

Mayor Kraham Announces 2026 Binghamton Business Plan Competition

(BINGHAMTON, N.Y.)-Mayor Jared M. Kraham on Thursday joined members of the Binghamton Local Development Corporation (BLDC) and the SUNY Broome Entrepreneurial Assistance Center (EAC) to announce details of the 2026 Binghamton Business Plan Competition.

Mayor Kraham said: "This competition builds on Binghamton's legacy of entrepreneurship and innovation, while bringing together the mentorship, funding pathways and strategic resources needed to turn ideas into successful ventures. It shines a spotlight on the strong, collaborative support network that exists here for local businesses, anchored by organizations like the BLDC, EAC, and the Koffman Southern Tier Incubator, and exemplifies what makes our community a great place to launch and grow a business. This contest continues to produce excellent finalists year after year, and I'm eager to see this year's results."

The Binghamton Business Plan Competition awards a cash prize and administrative support to the contestant who submits the best plan for developing a business in the City of Binghamton.

Now in its 16^th year, it is the longest-running competition of its kind in the Greater Binghamton area. It aims to cultivate local business development, promote entrepreneurial spirit and raise awareness about EAP training, BLDC financing, and other community resources for small business growth.

Courtesy of the BLDC, M&T Bank and the Koffman Southern Tier Incubator, the competition prize list amounts to $10,000, with $7,000 for 1^st place, $2,000 for 2^nd place and $1,000 for 3^rd place.

In addition to the cash prize, the 1^st place winner also receives administrative support to start or grow their business in the City, such as legal counsel and accounting services, donated in-kind by Binghamton businesses and organizations:

• Five hours of accounting services courtesy of Davidson, Fox & Co.
• $500 of legal counsel courtesy of 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
• One-year membership courtesy of the Triple Cities Makerspace
• Three-month co-working membership at the Koffman Southern Tier Incubator courtesy of Binghamton University's Office of Entrepreneurship and Innovation Partnerships

Last year's winner, Ayissi Nyemba of Emkao Foods, Inc., said: "Winning the BLDC-EAP Competition was a defining milestone for Emkao Foods. It strengthened our mission to connect ethically sourced cocoa to global markets and gave us the confidence to grow. Today, we are preparing to build a chocolate factory in Binghamton, New York, alongside a crowdfunding campaign to create not just a production space, but a community hub that fosters education, job creation, and deeper connections between farmers and consumers."

The competition's criteria include the following:

• Applicants must either 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.

Applicants are strongly encouraged to complete business start-up or management training through the SUNY Broome EAC or attend the online Business Development Workshop offered March 23-25 through the City Office of Economic Development. Applications are due April 1.

For information on how to apply, eligibility requirements and more, visit: https://www.binghamton-ny.gov/government/departments/economic-development/2026-business-plan-competition.