Targeted Investment to Boost Local Startups, Drive Economic Growth, and Foster Innovation in Broome County

Broome County’s recent $100,000 investment in three local startups marks a bold step in advancing entrepreneurship and innovation in the region. The Koffman Southern Tier Incubator, a pivotal player in nurturing startup growth in the Southern Tier, will distribute the funds among three of its member companies: Agri-Trak, LiBama and Hub Controls. This initiative underscores the county’s commitment to fostering economic development through targeted support for high-growth businesses.

The strategic allocation of funds includes $50,000 for Agri-Trak, a farm management software company; $30,000 for LiBama, which focuses on battery management systems for electric vehicles; and $20,000 for Hub Controls, an innovator in smart home energy management. These investments signal a continued collaboration between Broome County and the Koffman Incubator, with a shared goal of creating sustainable economic impact and supporting local innovators.

Broome County Executive Jason Garnar emphasized the importance of this partnership in driving the county’s economic agenda. “By investing in these businesses, we are investing in the future of Broome County’s economy and ensuring long-term growth and job creation,” he said. This sentiment reflects the broader vision of positioning Broome County as a hub for entrepreneurship and technology-driven innovation.

Bandhana Katoch, executive director of the Koffman Southern Tier Incubator, echoed Garnar’s enthusiasm, highlighting the potential for this investment to accelerate the startups’ growth and their ability to scale. “This funding will provide critical resources to help Agri-Trak, LiBama and Hub Controls scale their operations, accelerate product development and make a lasting impact on their respective industries,” Katoch said. She emphasized the broader goal of building a more vibrant and sustainable regional economy by nurturing local startups.

Agri-Trak, the largest recipient of the funding, is poised to revolutionize the agricultural industry with its farm management software platform. CEO Jamie Sonneville expressed her gratitude for the support, noting that the investment will enable the company to enhance its product offerings and expand its reach to more family farms across the country. “Our platform gives farmers real-time insights into cost-saving opportunities and areas for growth, helping them reduce expenses and boost profits,” Sonneville said.

LiBama, another beneficiary, is at the forefront of sustainable technology with its battery management systems for electric vehicles. Founder and Chief Technology Officer Wentao Li acknowledged the importance of the funding in advancing the company’s efforts to improve energy efficiency and battery performance. “This investment will help us protect our intellectual property, accelerate prototype development and bring our innovative solutions to the market,” Li said.

Hub Controls, which focuses on reducing energy consumption in households, plans to launch 10 new pilot projects in low-income and student housing properties thanks to the investment. Chief Financial Officer Cullen Kasunic detailed the company’s success in delivering energy savings and its plans for expansion. “With winter approaching, we expect even greater results—historically up to 30%—which will drive energy savings for disadvantaged communities,” Kasunic said.

The investment not only supports these three companies, but also signals a broader push toward innovation and sustainable economic growth in Broome County. By leveraging the resources of the Koffman Incubator, these startups are well-positioned to make significant strides in their respective fields, creating new opportunities for job creation and technological advancement.

The Koffman Southern Tier Incubator, a powerhouse of entrepreneurial activity, continues to play a crucial role in shaping the future of innovation in the region. This latest round of funding is a testament to the growing strength of the local startup ecosystem and the promising future of economic vitality in Broome County.