The Absent-Minded Professor.

Bumbling professor Ned Brainard accidentally invents flying rubber, or "Flubber", an incredible material that gains energy every time it strikes a hard surface. It allows for the invention of shoes that can allow jumps of amazing heights and enables a modified Model-T to fly. Unfortunately, no one is interested in the material except for Alonzo Hawk, a corrupt businessman who wants to steal the material for himself.