HomeStart UpBen Franklin to Invest $519,537 in Pennsylvania Companies

Ben Franklin to Invest $519,537 in Pennsylvania Companies

-

The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) approved the investment of $519,537 in support of four early-stage technology companies and seven established manufacturers*.
BFTP/NEP is a state-funded economic development organization that connects early-stage technology firms and established companies with experts, universities, funding, and other resources to help them thrive through innovation.
According to the BFTP/NEP, since beginning operation, the organization has supported the start up of 398 new companies, developed 865 new products and processes, created 13,931 new jobs for Pennsylvania workers and retained 20,772 existing jobs.
BFTP/NEP is based on the campus of Lehigh University in Bethlehem and has regional offices in Lewisburg, Reading, and Wilkes-Barre. It operates the Ben Franklin TechVentures, a business incubator/post-incubator facility, in Bethlehem.
*The organization announced the following investments in Pennsylvania:
Early-stage companies
– GrantAdler, Bethlehem – $100,000
– hField Technologies, Inc., Bethlehem – $70,000
– Penn Truss Systems, LLC, Middleburg – $50,000
– Store Eyes, Inc., Allentown – $100,000
Established companies
– Clark Technology Systems, Inc., Milton – $50,000/Partner: Susquehanna University
РCoates Toners, Dallas Р$50,000/Partner: Lehigh University’s Enterprise Systems Center
РEckman Building Components, Lehighton Р$31,750/Partner: Lehigh University’s Enterprise Systems Center
РMichelman-Cancelliere Iron Works, Lehigh Valley Р$19,900/Partner: Lehigh University’s Enterprise Systems Center
– Reading Alloys, Inc., Robesonia – $6,887/Partner: Lehigh University
– Sealstrip Corporation, Boyertown – $30,000/Partner: Lehigh University
РTray-Pak Corporation, Reading Р$11,000/Partner: Lehigh University’s Enterprise Systems Center 
FinSMEs
20/11/2009

More