The visionary folks at Ben Franklin Technology Partners of Southeastern PA have been as busy as the companies they support.
The highly successful economic development program announced on Monday a total of $1,975,000 to seven early stage companies with promising technology innovations. The companies included Ambler's Bioconnect Systems Inc.
($500,000), Glen Mills' Holganix LLC
($250,000), Devon's LiftDNA Inc.
($250,000), West Chester's LoSo Inc. ($125,000), Bala Cynwyd's Orion Security LSP, LLC
($200,000), Malvern's Quanta Technologies, Inc.
($250,000), and Malvern's Valence Process Equipment
Last Thursday, 21 other companies strutted their stuff in front of potential money as Ben Franklin partnered with Greater Philadelphia Venture Investors
and the University City Science Center
to host its annual Early Stage Venture Showcase
at the Navy Yard. The event was open only to investors; angels, venture capitalists, and individual investors packed the room. Upstairs, the highly popular IT/Physical Science/Clean Technology track companies presented; downstairs, Life Sciences entrepreneurs told their stories to a much smaller crowd.
Ryan Caplan, of ColdLight Solutions, opened with a strong presentation highlighting his company's impressive proprietary Neuron platform, which offers automated data analysis derived from artificial intelligence, leading to highly targeted recommendations for retail, pharmaceutical and communications applications. Another standout was the aforementioned Holganix, an organic fertilizer company which is already servicing some massive lawns in its first year of business, including Longwood Gardens. The Holganix process unlocks already existing nitrogen from the soil and air through biological means and dramatically reduces the need for pesticides.
Downstairs a smaller but tougher crowd checked out Science Center tenants BeneLein Technologies, which uses a bioprocess to create generic antibiotics, and Vascular Magnetics, which hopes to develop a magnetic nanotechnology treatment for peripheral artery disease.
Doug Leinen, founder of BeneLein, says that he has not received direct feedback from investors. Richard Genzer, who attended the Venture Showcase on behalf of the Mid-Atlantic Angel Group, reports that he has taken further action with three companies.Source: Doug Leinen, BeneLein, Richard Genzer, Mid-Altantic Angel GroupWriter: Sue SpolanFor more of Greater Philadelphia's latest and greatest, sign up here to receive Flying Kite in your inbox for free every week.