The Ben Franklin Technology Partners of Northeastern Pennsylvania's (BFTP/NEP) Board of Directors has approved the investment of $454,015 in support of regional economic development. The investments are with four early-stage technology companies, five established manufacturers, and two infrastructure-building initiatives.
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:
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developing early-stage technology-oriented companies,
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helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and
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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 379 new companies, developed 769 new products and processes, created 13,043 new jobs for Pennsylvania workers and retained 20,252 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, and operates Ben Franklin TechVentures, an award-winning business incubator/post-incubator facility, in Bethlehem.
Ben Franklin announces the following early-stage company investments:
Element ID, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $150,000
Begin commercializing, with a full-scale sales launch, a new type of radio frequency identification (RFID) tag reader for use in the materials handling environment. Unlike competitors' systems, Element ID's systems provide better read rates; seamless interaction with other automation equipment; intelligent, multi-reader systems designed to work over conveyors; and readers that are not sensitive to interference and can withstand harsh industrial environments.
Pinpoint Strategies, LLC, Bloomsburg, Columbia County
Ben Franklin Investment: $50,000
Commercialize the services of this e-recruiting company that uses sophisticated software, video, and animation tools to recruit hard-to-find physicians and healthcare professionals for various healthcare markets. Pinpoint's template-driven, computer-based products enable clients to easily use their employment marketing assets repeatedly, while quickly developing a customized, targeted recruiting campaign. The healthcare recruiting industry is experiencing nationwide shortages. Traditional recruitment solutions do not provide a cost-effective solution to this growing need.
Wine Gadgets LLC, Allentown, Lehigh County
Ben Franklin Investment: $24,900
Complete and implement a strategic plan to market patented systems for preserving wines once the wine bottles are opened. The system inserts argon gas in the opened bottle, stopping oxygen from entering. This allows wine to stay fresh for more than two weeks, meaning restaurant owners can greatly increase their wine-by-the-glass offerings and home consumers can enjoy a bottle of wine over several days. Wine Gadgets' systems are significantly less expensive and more portable than competitors' systems, and offer a technologically-superior approach to preserving the wine.
Xbio Systems, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $50,000
Support the U.S. summer launch of Xbio's "Software-as-a-Service" suite of information technology management solution products for small-to-medium-sized companies in the life sciences. Xbio's platform is provided as a browser-based software service that supports the majority of activities undertaken by participants in the drug and medical device development process, including study management, trial and site finance, clinical supplies, lab specimens, web training, trial intelligence, and support for regulatory activities among others. Target customers include discovery companies engaged in developing and commercializing biologics, pharmaceuticals, medical devices and new diagnostics, small clinical research organizations, and a wide range of research institutions. Already successful in Australia, the company will leverage its experience for a U.S. launch.
Ben Franklin announces the following established manufacturer company investments:
Appeeling Fruit, Inc., Reading, Berks County
Ben Franklin Investment: $14,000
University Partner: Enterprise Systems Center at Lehigh University
Plan and coordinate the relocation, set-up, and testing of equipment and other infrastructure, and the initiation of production at Appeeling's new facility. Appeeling Fruit produces packaged fruit products for food service and retail customers, and bulk apples for bakeries. It is moving to a newly purchased and renovated facility to keep up with increasing product demand.
Custom Processing Services, Inc., Reading, Berks County
Ben Franklin Investment: $25,000
College Partner: Electrotechnology Applications Center at Northampton Community College
Identify and specify a combined heat and power system for a co-generation plant that will utilize non-polluting waste products that are typically sent to landfills as fuel. Custom Processing will examine system and fuel options for the plant that will provide for the company's electricity needs, and possibly generate surplus electricity. Electricity is a significant cost for Custom Processing, a toll manufacturer that specializes in the micronizing of materials in order to produce ultra-fine particle sizes for use in a wide-range of products.
Eckman Building Components, Lehighton, Carbon County
Ben Franklin Investment: $12,615
University Partner: Enterprise Systems Center at Lehigh University
Optimize the manufacturing process and reduce production costs for a new product called "SpaceJoist." SpaceJoist is revolutionary in the building industry because it comes in standard heights and lengths, is trimmable in the field, is lightweight, and has large smooth openings, which together reduce labor costs by up to 15%. SpaceJoist is a green product, utilizing less wood fiber and recycled steel, and outperforms traditional I-Joists both in span and fire ratings. It allows electricians and plumbers to run wire and piping through the joists without drilling and cutting. Eckman Building Components is currently producing SpaceJoist in small orders, and after this project will sell in 15 northeastern U.S. states.
R.M. Palmer Company, Reading, Berks County
Ben Franklin Investment: $17,500
University Partner: Enterprise Systems Center at Lehigh University
Reduce changeovers and set-up times through enhanced scheduling and other improvements on packaging lines. This will reduce product cost and increase manufacturing efficiency. R.M. Palmer produces seasonal chocolate novelties and confections.
Springs Window Fashions, Montgomery, Lycoming County
Ben Franklin Investment: $50,000
College Partner: Pennsylvania College of Technology
Reduce manufacturing costs and increase output of Springs' window blind product line. This effort will focus on improving the efficiency of Springs' slat machines. Springs Window Fashions manufactures innovative blinds, shades, and drapery hardware.
Ben Franklin also plans to invest in two Keystone Innovation Zones (KIZs) within its service area. KIZs provide tax credits and technology transfer grants to early-stage companies that start or relocate in their designated zones. KIZs are typically located near colleges and universities. The anticipated outcome is that companies benefit from the facilities, equipment, and expertise of colleges and universities, and the schools benefit from high-value, real-world opportunities for students and faculty as they work with the companies.
Greater Susquehanna KIZ, Columbia, Montour, Union, and Snyder counties
Ben Franklin Investment: $40,000
University and Organizational Partners:
Bloomsburg University, Bloomsburg
Bucknell University, Lewisburg
Geisinger Health System, Danville
Susquehanna University, Selinsgrove
Williamsport/Lycoming KIZ, Lycoming County
Ben Franklin Investment: $20,000
University and Organizational Partners:
Industrial Modernization Center, Williamsport
Lycoming College, Williamsport
Pennsylvania College of Technology, Williamsport
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