The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $60,000in support of regional economic development. 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, Ben Franklin staff concentrate their efforts on three key areas:
- developing and growing early-stage technology-oriented companies,
- helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and
- promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies.
Since beginning operation, BFTP/NEP has helped to create 16,214 new jobs for Pennsylvania workers and to retain 22,155 existing jobs, to start 458 new companies, and to develop 1,279 new products and processes. The Pennsylvania Ben Franklin Technology Partners network has returned $3.60 to the state treasury for every $1.00 invested in the program. Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority.
BFTP/NEP owns and manages Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem at which it is headquartered. BFTP/NEP also manages the Bloomsburg Regional Technology Center in Bloomsburg.
Ben Franklin announces the following early-stage company investments that are provided to clients in the form of loans.
Colymer Industries, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $50,000
Implement a marketing and sales strategy to commercialize a new, proprietary, non-asphalt roofing and waterproofing material called Tarzanite. An improved coal tar formulation, Tarzanite is not water-soluble and is environmentally beneficial. The material is expected to outlast traditional asphalt-based materials by a factor of four.
SeKur Technology, Inc., (www.sekurtechnology.com), Allentown, Lehigh County
Ben Franklin Investment: $10,000
Complete a sales and marketing strategy to launch a proprietary licensing, encryption, and storage solution to secure all types of digital media, including pdf documents, e-books, and audio/video files. The owner of the media can encrypt, track, and control the distribution of any file, on- or off-line, preventing unauthorized transfer or download.