The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $700,000 in support of regional economic development. The investments are with four early stage technology companies and two initiatives in support of the region’s business infrastructure.
BFTP/NEP’s goal is to help lead northeastern Pennsylvania to a better economic future by building partnerships that develop and apply technology for competitive advantage. To achieve this goal, Center staff concentrate their efforts on three key areas:
1. developing early-stage technology-oriented companies,
2. helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and
3. promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies.
Since beginning operation, BFTP/NEP has helped to start 366 new companies, developed 698 new products and processes, created 11,648 new jobs for Pennsylvania workers and retained 19,622 existing jobs. The Ben Franklin Technology Partners of Northeastern Pennsylvania is headquartered on the campus of Lehigh University in Bethlehem. It has regional offices in Lewisburg, Reading, and Wilkes-Barre.
Ben Franklin announces the following early stage company investments:
American Outsourcing Solutions, Dallas, Luzerne County
Ben Franklin Investment: $150,000
Project: Complete development of software tools for outsourced print and e-commerce advertising production for the newspaper and magazine industries. The program can save customers substantially in production costs, thereby increasing advertising profitability.
Market Reader Pro, Fogelsville, Lehigh County
Ben Franklin Investment: $150,000
Project: Continue to commercialize new, proprietary survey and other reporting tools for use in consumer market research. Utilizing the Internet and innovative technology solutions, the company enables clients to enjoy quick or real-time customer-sourced information turnaround for timely and reliable market analysis at a competitive cost. Market Reader Pro’s client roster includes numerous Fortune 500 companies.
Solid Cactus, Inc., Wilkes-Barre, Luzerne County
Ben Franklin Investment: $150,000
Project: Continue development and commercialization of proprietary software for an e-commerce application directed to Yahoo! Merchant Solutions Store and other major e-commerce platforms. This “Feed Perfect®” software tool allows e-commerce stores to operate more profitably through comprehensive analysis of product inquiries and sales.
Surface Chemistry Discoveries, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $150,000
Project: Develop low-cost and novel surface preparation and cleaning chemistries for the semiconductor manufacturing industry. The main target markets are integrated circuit and liquid crystal display fabrication plants, as well as various nanotechnology industries.
Ben Franklin announces the following investments in the region’s business infrastructure:
Southside Bethlehem Keystone Innovation Zone, Bethlehem, Northampton County
Ben Franklin Investment: $25,000
Project: Continue financial support of the Southside Bethlehem Keystone Innovation Zone. KIZs provide seed grants to early stage technology companies and bring them close to colleges and universities, supporting student internships and technology transfer. This helps attract new technology companies to the region.
Thermoforming Center of Excellence, Pennsylvania College of Technology, Williamsport, Lycoming County
Ben Franklin Investment: $75,000
Project: Building on the success of the Rotational Molding and Plastics Manufacturing Centers at Penn College, both of which are Centers of Excellence, develop a Thermoforming Center of Excellence at Penn College. Begin to form relationship networks among companies and academic institutions in the thermoforming industry, and assess educational needs in the industry.
