Ben Franklin News

Ben Franklin to Invest $519,984 In Regional Economic Development

The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $519,984 in 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:

  1. developing and growing 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 create 16,600 new jobs for Pennsylvania workers and to retain 22,958 existing jobs, to start 470 new companies, and to develop 1,356 new products and processes. BFTP/NEP clients have generated $1.357 billion in follow-on funding. 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, manages, and is headquartered in Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem, PA. 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 with warrants.

Brighton Training Group, Lewisburg, Union County
Ben Franklin Investment: $100,000
Scale-up and transform Brighton Training Group’s offerings to proprietary and engaging e-learning programs that meet USDA training requirements for federally funded child nutrition and early childhood education programs. The investment will allow the company to develop and own interesting, compliant, and cost-effective course content and provide annual ongoing support to clients.

CDC Software, LLCBloomsburg Regional Technology Center, Bloomsburg, Columbia County
Ben Franklin Investment: $100,000
Continue to expand commercialization of CDC Software’s platform that greatly reduces the time and cost of integrating telephony systems with Customer Relationship Management (CRM) and business systems. Highly configurable and supporting all major telephony providers, the platform provides complete customer data immediately to a representative answering a customer’s call to enable a productive and satisfying customer experience.

Eventuosity, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $100,000
Complete software work and augment marketing efforts for Eventuosity’s cloud-based, scalable software application for event organizers, exhibition marketers, and meeting planners. The company’s software comprehensively supports event managers from planning, to registration, to post-event reporting and return-on-investment analysis. Accessible on multiple devices, the software allows organizers to focus on the strategic aspects of their events, such as sales lead generation, brand promotion, education, and advocacy.

Howell Benefit Technologies, LLC, Wilkes-Barre, Luzerne County
Ben Franklin Investment: $35,000
Develop a sales and marketing plan and refine the proprietary product for this provider of small group insurance software. The software is used by national group insurance carriers to allow agents to reduce the quoting, enrollment, and submission process from the current 3-5 week manual approach to fewer than 20 minutes. Providing real-time rates in this highly complex industry is a paradigm shift in the way group insurance is currently sold and administered.

MindMe, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $50,000
Complete testing and beta launch of MindMe Solo, a new mobile marketing and business tool for small and independent businesses on the go. MindMe’s mobile app combines powerful multi-channel email, text, and voice communication. The app offers robust contact and list management and facilitates lead capture via phone, text, and web. It will expand to include scheduling, check-in, loyalty, payment processing, and more.

Signallamp Health, LLC, Scranton, Lackawanna County
Ben Franklin Investment: $100,000
Complete development and implementation of a technology infrastructure that will enable Signallamp to efficiently deliver chronic care management services to Medicare beneficiaries through a team of experienced registered nurses who contact patients on a monthly basis. Using Signallamp’s services, doctors provide a value-added service to a larger number of patients, generate new practice revenue, and achieve better health outcomes for patients.

Ben Franklin announces the following established manufacturer company investments. BFTP/NEP provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers.

JED Pool Tools, Inc., Scranton, Lackawanna County
Ben Franklin Investment: $9,984
University Partner: Lehigh University’s Enterprise Systems Center
Formalize organizational structure to enhance productivity and prepare the company for new business opportunities. JED Pool Tools manufactures pool and spa maintenance equipment as well as provides plastic fabrication toll manufacturing through its custom injection molding division, Northeastern Plastics. As the only domestic producer of its line, JED is vertically integrating to address difficult international competition and promote reshoring initiatives.

Rea.deeming Beauty, Inc., Bethlehem, Northampton County
Ben Franklin Investment: $25,000
University Partner: Lehigh University’s Enterprise Systems Center
Streamline current manufacturing and shipping approaches by implementing new automation techniques and more efficient assembly processes at Rea.deeming Beauty, manufacturer of the award-winning elliptical-shaped beautyblender® makeup applicator. Rea.deeming supplies high-quality products for the beauty, professional, and retail markets. This work will improve the company’s ability to meet a steep increase in consumer demand, reduce lead times, and enhance production and fulfillment capabilities.

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