Ben Franklin News

Ben Franklin Invests $210,500 in 4 Early-Stage Firms

The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $210,500 in support of four early-stage, technology-based firms in BFTP/NEP’s 21-county service area. Investments identified as continuation projects indicate that the client achieved pre-determined milestones and is receiving more funding to accomplish additional project work. BFTP/NEP announces the following early-stage company investments, which are provided in the form of loans with warrants.

Enigma Networkz, LLC, Reading, Berks County

Ben Franklin investment: $30,500

Support sales, marketing, positioning for investment, and product development for this proprietary Software as a Service (SaaS) cybersecurity data analytics platform that ingests and analyzes source data from disparate systems. Cybersecurity is a huge and growing threat. The turnkey and intuitive platform, Enigma Glass, provides a cost-effective solution for organizations of all sizes to view relevant trends and threats in their networks. It complements existing tools and allows clients to make informed strategic decisions.

Phoenix Hockey USA, LLC, Tatamy, Northampton County

Ben Franklin investment: $30,000 – continuation project

Increase sales through improvements in distribution, direct promotion, and e-marketing for this producer of field hockey sticks that are manufactured with a proprietary process. The technology allows the price point of US-made sticks to compete with Asian-made sticks. Also, secure the necessary materials to build inventory. Field hockey is the third most popular sport in the world.

ProdHealth, Inc., Bethlehem, Northampton County

Ben Franklin investment: $50,000

Complete transition of the company’s value-based digital health and wellness platform from a web-based site to a downloadable app. This will further increase the ease, efficiency, and availability of support for users to improve their lifestyle choices and introduce healthy habits using an evidence-based approach. The mobile app will allow users to learn, track their habits, and communicate with their healthcare team seamlessly, improving the probability of user adherence. ProdHealth is a solution for both employers and individuals who want to minimize the risk of chronic disease and its associated costs while optimizing health and environmental impact. The platform provides individualized care and is focused on a plant-based approach to nutrition and other healthy lifestyles.

 studio BE Mindfulness, LLC, Wilkes-Barre, Luzerne County

Ben Franklin investment: $100,000 – continuation project

Support piloting, corporate sales, marketing strategizing, and the launch of studio BE’s new mindfulness teacher portal. The company leverages a web interface to utilize proprietary, scientifically proven mindfulness techniques to empower employees to increase productivity, reduce stress, improve interpersonal communication, and strengthen resilience. This will be particularly useful and relevant to recovery from the COVID-19 pandemic. studio BE serves corporations, nonprofits, and individuals via on-site visits and/or remotely by utilizing a comprehensive e-learning platform.

Via Lehigh Valley Business