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Northeast PA business community gets a big boost in BFTP/NEP’s latest funding round

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Ben Franklin's TechVentures


Ben Franklin


Ben Franklin Technology Partners of Northeastern PA (BFTP/NEP) has announced that they will invest almost $1 million in regional economic development. The organization's mission includes developing and growing early-stage tech-oriented companies; helping established manufacturers apply new technology and business practices; and boosting a community-wide infrastructure that favors high-growth companies. Only by creating a vibrant entrepreneurial ecosystem can the area truly flourish.

Since launch, BFTP/NEP has helped to create 16,214 new Commonwealth jobs while also enabling the retention of 22,155 existing jobs. Investments have led to 458 new companies, and 1,279 new products and processes. The Ben Franklin Technology Partners network has returned $3.60 to the state treasury for every $1.00 invested in the program. The network is funded by the PA Department of Community and Economic Development’s Ben Franklin Technology Development Authority.

The following early-stage companies received investment in the form of loans.

Bio-Energy Holdings, Greentown, Pike County
Ben Franklin Investment: $25,000
This company will continue commercializing the patented A-Ceptor™, an oil/water/solids separator, interceptor and clarifier for use in renewable energy recycling and water treatment equipment. The A-Ceptor allows clients to harvest high-quality feedstock for biodiesel and other renewable fuels from waste streams.

Cernostics, Inc., Danville, Montour County
Ben Franklin Investment: $100,000
Cernostics will validate a diagnostic and prognostic test predicting the risk of developing esophageal cancer, the fastest-growing cancer by incidence in western countries. The test employs a “spatial systems biology approach” to pathological testing that simultaneously evaluates multiple cells and processes in a single biopsy. Cernostics is developing this technology in collaboration with Geisinger Health System, University of Pennsylvania, University of Pittsburgh and the Academic Medical Center in Amsterdam, The Netherlands.   

EggZack, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $92,500
This loan will go towards completing software development that enables EggZack to easily integrate its platform with that of strategic partners and resellers. EggZack's proprietary software-as-a-service (SaaS) solution requires only a single entry to update a client's website and other marketing functions, broadcasting the information immediately to 19 types of media, including social media such as Facebook, Twitter and LinkedIn, as well as the company website and blog, email, local media, and publications.

GiveGab, Dunmore, Lackawanna County
Ben Franklin Investment: $95,079
Through onboarding and engaging with up to 600,000 targeted nonprofits, GiveGab will populate its proprietary web-based software platform with volunteer opportunities for users, making it the largest platform in the world. GiveGab is a social network and a software tool that helps volunteer managers at nonprofits, schools and businesses create and manage volunteer events, promote their programs, recruit volunteers, track hours and report on the work they are doing in the community.

MyNetwork, LLC, Bethlehem, Lehigh County
Ben Franklin Investment: $50,000
This investment will help MyNetwork launch its proprietary on-line tool at select colleges and universities, and also to the general public. MyNetwork has developed a cloud-based contact relationship management application designed to help college students and professionals visualize, foster and strengthen relationships with the connections in their various social and professional networks.    

Orbweaver Sourcing, LLC, Ben Franklin TechVentures, Bethlehem, Northampton County
Ben Franklin Investment: $50,000
This company is completing development of a bill-of-material authoring tool as a module in a cloud-based software solution for electronic circuit board manufacturers. Current sourcing and procurement models in the electronics manufacturing industry are highly inefficient. Orbweaver's software platform will allow for better negotiated terms with suppliers, reducing costs and increasing productivity for clients.

Skinny Eats, LLC, Friendsville, Susquehanna County
Ben Franklin Investment: $100,000
This food startup will design, lay out, procure equipment, and build a manufacturing and R&D facility to produce salad dressings and dips. Products are dispensed in a novel way — as a foam — delivering outstanding flavor using real ingredients with minimal calories. Skinny Eats' dressings have just 15 calories per serving, 90 percent fewer calories, carbs, sugar and fat than traditional dressings, and no cholesterol or trans fat. The product has zero points on Weight Watchers PointsPlus® program.

Vitrius Technologies, LLC., Wilkes-Barre, Luzerne County
Ben Franklin Investment: $200,000
Vitrius, a manufacturer of innovative windows for the industrial window market, will develop its marketing team, secure engineering support for bidding and design processes, and establish strategic dealer networks and distribution channels. The company's metal-clad composite windows combine three proprietary innovations, producing both heat and power while greatly increasing energy efficiency. 

Zzyzx Polymers, LLC, Allentown, Lehigh County
Ben Franklin Investment: $150,000
The investment will help transition Zzyzx Polymers' manufacturing process from lab-scale to commercial-scale. The company uses a patented process that was developed over a decade of university research to produce specialty plastics and new types of recycled plastics.

Ben Franklin also announced the following established manufacturer company investments, providing 1:1 matching funds for work with a college or university partner on technology-based innovation.

Benton Foundry Inc., Benton, Columbia County
Ben Franklin Investment: $28,470
College Partner: Northampton Community College's Emerging Technology Applications Center
This collaboration will assess manufacturing processes at this producer of gray and ductile iron castings, identifying ways to lower energy consumption. The team will also conduct an investment-grade energy efficiency assessment of the plant. 

East Coast Erosion Control, LLC, Bernville, Berks County
Ben Franklin Investment: $25,000
University Partner: Lehigh University's Enterprise Systems Center
BFTP/NEP and Lehigh University will improve the Enterprise Resource Planning procurement, work order management, shop floor control systems and inventory management at this manufacturer of erosion control products for the construction industry.

Reading Alloys, Inc., an AMETEK Company, Robesonia, Berks County
Ben Franklin Investment: $16,000
University Partner: Lehigh University's Enterprise Systems Center
Together, Reading Alloys, Lehigh and Ben Franklin will develop a strategy for shop floor control, establish system requirements, select a software vendor and develop a project implementation plan that provides a foundation for batch record management. Reading Alloys' master alloys and advanced engineering materials are used for critical applications in the aerospace, marine, petroleum, medical and foundry industries.

Suburban Testing Laboratories, Inc., Reading, Berks County
Ben Franklin Investment: $7,836
University Partner: Lehigh University's Enterprise Systems Center
The collaboration will define current and future facility requirements for a new, centralized walk-in incubator room to service departments within Suburban Testing's facility. Suburban provides environmental, product, and water testing and analyses for industry and municipalities. 

BFTP of Northeastern PA, Entrepreneurship, Features, Life Sciences, Manufacturing, Venture Capital

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