How the Koffman Incubator turned 2025 into a milestone year
More than $800M in economic impact has been generated since 2017
What began as a downtown experiment in entrepreneurial support has grown into one of the Southern Tier’s most influential economic drivers.
The Koffman Southern Tier Incubator, powered by Binghamton University and located on Hawley Street in downtown Binghamton, marked another banner year in 2025 with the release of its annual Year in Review. Since opening in 2017, companies supported by the Koffman have produced an estimated $817 million in economic impact, created 808 full-time jobs and secured $655 million in capital. Two hundred of those jobs were added in 2025 alone.
Today, the Incubator serves 65 active member companies, with roughly two-thirds physically operating in Greater Binghamton and directly contributing to the regional economy, while the remaining third participate virtually from across the country and globe.
For Executive Director Bandhana Katoch, the incubator’s strength lies in how closely staff members work with founders.
“The staff is extremely committed to the success of the companies,” Katoch said. “We really work with companies closely. We listen to them. The feedback they provide to us, we then structure it into our programs and support.”
That responsiveness has shaped the Koffman’s programming in tangible ways. When founders expressed challenges navigating core business functions, the Incubator introduced recurring, no-cost help desk sessions staffed by professionals across accounting, legal and marketing, creating immediate, practical support for startups at critical growth stages.
Growing recognition and long-term success
Membership at the Incubator has increased significantly during his tenure, reflecting rising interest from entrepreneurs both inside and outside New York. Engagement between faculty researchers, student innovators and industry founders has also accelerated, strengthening ties between the University and the regional economy.
Client Services Manager Nick Zwierlein said the momentum is reshaping how Binghamton is perceived nationally.
“Seeing those increases, aside from the businesses that we’re bringing in from outside of New York state, has been great to see,” Zwierlein said. “Binghamton is getting known as this kind of Valley of Innovation once again. People are reaching out to us to try to support them, which has been a great sign for the area.”
The Koffman’s impact doesn’t end at graduation. Advisers continue working with founders long after they leave the Incubator. A factor that contributes to an impressive outcome: 75% of Koffman graduates are still operating, exceeding the national startup survival average of 50%.
Clean energy startups anchoring innovation
The Koffman’s Clean Energy Incubator Program remains a defining pillar, supporting 43 startups developing climate and energy technologies. These companies leverage lab space, technical mentorship and national industry networks to accelerate commercialization.
Among them:
• Bridge Green Upcycle — advancing mineral recovery from spent batteries
• KLAW Industries — manufacturing recycled-glass concrete additives that reduce emissions and capture carbon
• Carbonix — expanding from overseas into the U.S. through Soft Landing New York, with plans to produce near Binghamton
Together, these ventures are positioning the Southern Tier as a growing center for sustainable technology and advanced manufacturing.
Business incubator members scaling new markets
The Business Incubator Program continues to support early-stage companies across multiple industries. Standout members like Agri-Trak, PLATFORM Golf and Grow-NY winner For Bitter For Worse illustrate how targeted mentorship and funding guidance can translate into national growth and expanded operations within New York.
The Koffman’s advisors also help founders pursue venture capital, connect with angel investors and access state and federal funding opportunities, resources many startups struggle to navigate independently.
For Katoch, the Incubator’s success ultimately comes back to building companies that remain rooted in the region while scaling outward.
“Nothing makes you more proud than seeing companies you’ve worked with go on to ring the bell at a stock exchange or be acquired by major industry leaders,” she said. “That’s when you know you played a role in something much bigger.”