About: Ben Franklin Northeast is launching a new fund to support the creation of life science startups in Northeastern Pennsylvania. We’ll invest up to $250,000 to match investments by regional healthcare providers and specialists, private corporations, and academic institutions that are creating spinoff companies or developing technologies of interest to their organization.
Eligible Projects: Projects could be from a wide range of life science and healthcare improvements, such as:
• New biologics or pharmaceuticals
• Medical devices or diagnostics
• In-hospital caregiving and patient management tools and software
• New caregiving solutions
• Staff and patient safety solutions
• Community health solutions
Investment: Participating organizations must commit at least $50,000 into the startup, targeting technologies that improve the lives of patients or the delivery of care. Recipients of the investment can be companies launched by individuals from within the organization or companies attracted to the region by a participating institution. If a participating organization is interested in developing a particular technology, Ben Franklin Northeast can help promote the technology interest to existing or new companies interested in developing the solution and jointly invest in a resulting company.
Requirements:
• New startup must be located in, or relocate to, our 21-county service territory in Northeastern Pennsylvania
• Founder must be full-time with the company
Download Flyer here
Read press release here
For more information, contact: Wayne Barz, Chief Investment Officer, at 610.758.5215 or wbarz@nep.benfranklin.org.
This project was financed [in part] from Pennsylvania Small Business Credit Initiative funds from the Commonwealth of Pennsylvania, Department of Community and Economic Development.
