Binghamton Mayor Jared Kraham joined members of the Binghamton local development corporation and SUNY Broome's Entrepreneurial Assistance Center for the start of the 2023 Binghamton Business Plan Competition. 

The competition, which aims to promote the development of businesses locally and cultivate entrepreneurial spirit, is the longest running competition in the area. 

Entrants are tasked with creating a plan for starting a business within the city of Binghamton.

"As a community, we need to serve and continue promoting a more diverse, inclusive environment that allows each of us to be our best," said Peter Newman, the Regional President for M&T Bank. 

Laura Whitmore is last year's winner and the owner of Strategic Test Prep.

"I'm just so grateful, though, for the opportunity and to be a business in the community and to have the support and validation from everybody who believed in me and felt like my business had some value here in the Binghamton area."

The winner gets a cash prize and support made available by Binghamton businesses and organizations including:

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

$500in website services courtesy of FreshySites

$500 in branding services courtesy of Idea-Kraft

One year membership in 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

Applications are due April 6th. You can go here to apply. 

There are also virtual workshops held later this month, sponsored by the City of Binghamton's Office of Economic Development. You can register for those here.