The Koffman Southern Tier Incubator officially welcomed its new Executive Director Bandhana Katoch back in May from Hyderabad, India. Now that she has had some time to settle into the building and her new surroundings, we sat down with Bandhana to get her thoughts on the Binghamton community, her transition into the new role, what excites her about the Koffman, and more.
Q: What is your background in?
A: I would start my background from [the] sciences. That’s what I aspired to become — a scientist. I went through various graduate programs, worked in different labs across the spectrum from molecular biology to cell biology, and then after nine or 10 years of working, I shifted gears and I went to business school. I did my MBA in marketing and management, and [then] worked in technology transfer at the University of Missouri. That’s where I would say the majority of my career experience comes from. It also exposed me to the start-up world and entrepreneurship.
From there I went to Los Angeles, during this time I also did my JD [Juris Doctor degree] so I have a law degree as well [and] I’m a registered attorney in universal bar exam states. In Los Angeles, that’s where I worked with a federal government contractor and non-profit organization, which was supporting the commercialization of various SBIR [Small Business Innovation Research] and STTR [Small Business Technology Transfer] programs specifically funded in the sustainability space — mainly agencies like NSF [National Science Foundation], NIST [National Institute of Standards and Technology], NOAA [National Oceanic and Atmospheric Administration] and USDA [United States Department of Agriculture]. So, that’s kind of my background in terms of experience and expertise, I usually work with start-ups in the nexus of science, business and law.
Q: Where are you most recently coming from?
A: My most recent assignment was [at the] World Bank in India where I spent close to two years working in establishing the infrastructure of technology transfer and translational research from academic institutions to the marketplace.
Q: How did you hear about the Koffman and the Executive Director position here?
A: I was familiar with Binghamton University for a few years, when Eugene Krentsel used to be Vice President here. I’ve known him since my early years of tech transfer in 2006. So, Binghamton University has been on my radar for a few years. Koffman was being established in 2017 and I had heard about it at that time as well. I came to know about this particular position last fall and that’s when I applied for the position and got short-listed to be interviewed.
Q: So then, what were your first impressions of the Koffman after hearing about it back in 2017 to coming here and seeing the space now?
A: I actually feel very excited. If you look at any organization, their first five years are going through the same struggles and obstacles which we talk about for our start-ups — [the] “valley of death” [and] putting processes in place — and I feel Koffman has done tremendous work in the last five years.
The fact that when I came here and that’s the legacy I’m inheriting — 97 percent of the space was already occupied, we have close to 50+ companies in the space affiliated with Koffman. So I think the Koffman team has done tremendous work in five years, and now I feel that the next step is to take it to the next level of scaling. That’s why I’m excited to be here and I hope I can contribute towards the next growth of Koffman.
Q: In turn, what were your first impressions of the Binghamton area?
A: I’m still learning a lot about this area. It was different than I expected — not good or bad, just different. Looking at the community, I see a spark in the people I have met so far with community leaders and stakeholders. A spark to support the community and do well by being good, and I think that’s what it takes for a community to continue to grow. My goal is to develop enough collaborations and cohesiveness and alignment with various community stakeholders so that we can all work towards the common goal of uplifting the community and supporting the small businesses, as well as aspiring and existing entrepreneurs here.
So, I think the community has a lot of scope — whenever I talk to anybody in Binghamton they all say, ‘Oh, it used to be a great community,’ in a past tense. I hope if we all come together we can change that past tense into future tense where [we say] ‘It’s going to be a great community again.’
Q: Beyond the meetings you’ve had with these community leaders and the aspirational change you’re hoping to help spark, what are you looking forward to seeing and experiencing in the area?
A: I know the work New Energy New York — NENY as they call it — is doing, is [focused] a lot on workforce development. I know we are establishing a lot of programs for socially and economically disadvantaged communities, and I really hope that people can take advantage of that, can see that as an upskill and use that as a platform to take their next phase or chapter.
I do think that a lot of students from Binghamton University can also look at Binghamton not just as a stop-gap for their education, but also as a place for them to initiate their career. I hope we can give that platform and stage to a lot of young workforce to get engaged here.
My goal would be [asking] can we bring in enough companies, can we inspire enough entrepreneurs who can then employ themselves and a few others in this area and support them in every way? For that, I’m looking to develop truly an entrepreneurial ecosystem of subject matter experts, [the] investment community, local stakeholders, both public and private partners, as well as philanthropists and donors — because money is here, we just have to find the right way to target that money towards the progress of the community.
Q: You’ve talked about the already existing team at the Koffman and the tenets here, plus the ecosystem and community you’ve found. What excites you the most about the Koffman?
A: I would always put people number one, so I would say the team excites me most. It’s a young team, they have good aspirations [and] they want to go further. My goal as their lead is to seek and create synergies between their aspirations to grow and aspirations for Koffman to grow. I feel only when you can create true synergies between people and organizations, can organizations thrive. So, I would say my first excitement is definitely [the] team. It was great to meet with all of them; [they’re] great professionals, great human beings.
My next work would be to engage with companies who are in different stages of their development. Currently, we focus a lot on early-stage technologies because by essence of being an incubator that’s what you support the most. I’m hoping we can engage with some of the companies in different capacities, whether it’s virtual or co-working, and support some late-stage technologies as well to diversify the industry as well as diversify the stage of development of the start-ups. And I feel that there is a lot of scope to do so and that is exciting.
Q: So, from your still adjusting and discovering perspective, how do you see the entrepreneurial and start-up landscape of the Southern Tier already shifting?
A: It would not be right on my part if I claim what I know from the past; I only know from what I was told and what I have read. But, I think the shift is already there. We have companies from different countries in this building, we have people from different states in this building and that in itself means a shift in the thinking process.
I also think the more we can engage the student population — and I believe it can start from middle school [with] the minds of the youth — on that concept of entrepreneurship, not just that I’m going to be my own boss, but a concept that a person with his or her great idea can then employ themselves and others. So, you uplift yourself by uplifting others is a concept, which if we can introduce early on in children, I think we’ll truly start seeing not just a shift but the whole curve moving in the right direction. That’s what I hope I can contribute towards.
Q: What has been the best part of this whole transition phase for you?
A: Personally, it’s always good to be back in the university community. The last seven or eight years I spent outside the university community, so that is definitely exciting to be back in between the dynamic minds of professors and just the whole spirit which a university community comes with. But I think more than that, also I feel that this position will allow me to use every bit of experience and expertise I have developed over the last two decades of my professional life in one place. There is nothing better for a professional than to see that happening.
Q: Then in turn, what has been the most challenging part of this transition period?
A: Well, the most challenging part has been to get inserted into a new community as an outsider. You are kind of relying on the mercy of the people from the community and when there are not enough connections that can be really challenging. I dwelled over it for a few weeks and then I thought I have to start extending that hand towards people to start building those relationships. So far wherever I have extended a hand of friendship, I have received a hand of friendship from the other side and that is very exciting. So it was challenging in the beginning, [however] I don’t see that as a challenge anymore.
Q: What kind of forward-looking plans do you already have developing in your mind for the Koffman?
A: Ideally I would like to work on developing much more robust subject matter experts in the community, who can traverse towards different areas of business (whether it’s e-commerce, marketing or different areas of the business) and then also across industry (whether it is clean energy, agriculture and food, or biotech). So, I would like to develop that network.
My second goal would be to develop an investor community. We work closely with some of the investor community here — Upstate Capital, Launch-NY, New York Ventures, BingVentures, SUNY RF — but can we bring them together for a cohesive advancement where their strategic objectives are met with Koffman?
If I go very ambitious with what I would like to see in the future — if we could establish an angel network within Koffman itself, that would be icing on the cake. [We’re] far from that, but I think the right steps in the right direction can possibly make it happen in a few years. That’s what I would like though — a pool of money, angel investors. And you know what would be ideal? If the student body could run that angel investment group. That would be phenomenal.
Q: How could you see that working? Would the student body partner with a finance program, or the business and MBA program?
A: It can literally be an elective hosted by any of the schools. Whether it is the School of Management or School of Engineering, we have to have an endowment for students to get real-time experience. So, they’ll do everything which a wealth analyst would do to understand the technologies we’d pitch them, just the way we’d do in front of investors. Living next to the finance capital of the country, and in some extent of the world, I think if we take a deeper dive into it we can make it possible; and that’s what will make it stand out because currently, I know only two or three universities who have their own student angel investment fund which is doing this.
Q: Do you know what universities those are?
A: University of Missouri, I helped to establish that fund [and] that is why I know it is possible, and then there’s one in Texas.
Q: How would you personally like to leave an impact on the Koffman?
A: You know, I’ve always believed in a saying, ‘You do whatever you can wherever you are, in whatever way you can, and you’ll make yourself useful.’ I believe in that every day I come to [the] office. So for me, I don’t believe in making a big change. I feel that every big change is a result of many small changes and my goal is towards making those small changes — whether it is towards efficiency, whether it is towards effectiveness [or] whether it is towards the community impact. So, I don’t think I’ve ever thought [that] I’m a motivator for big change but I genuinely believe that if I put my heart and soul and my brain into something, I can make those small changes — which eventually will result in a big change.
Q: What would you like the Koffman community as a whole to know about you?
A: I genuinely believe in an open door — [an] open door to my office, open door to my home and my heart. So I feel that if anybody has to reach me, I’m available and I think that’s when I can contribute the most.
So I would say, to any community member affiliated with Koffman that they don’t have to think twice to reach out. If I can’t help them I’ll try to direct them to the right person who can help them, and if I don’t know who the right person is I’ll work with them to find out who the right person is and we both will learn something from the exercise, and if nothing can be done then I will tell them that nothing can be done.
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