Ben Franklin to invest $660,195 in tech ventures, incubators

Two early-stage technology companies, two established manufacturers, and eight business incubators are getting a shot in the arm from the Ben Franklin Technology Partners of Northeastern Pennsylvania, which recently approved investments totaling $660,195.

GrantAdler, a tech venture out of Bethlehem, will receive $150,000 from BFTP to launch the Rhapsody product line, a new series of pre-sized catheters for vascular access. GrantAdler also plans to develop and market an implantable blood access device for dialysis.

Store Eyes, Inc., an in-store compliance monitoring company in Allentown, will receive $150,000 to conduct beta testing to demonstrate the performance of a device that captures and reports merchandising conditions at retail stores. The information gathered by the Store Eyes’ “Mobile Capture Unit” will provide real-time intelligence of retail merchandising compliance for both retailer and manufacturer.

Lycoming College is partnering with BFTP to invest $59,945 in the Cromaglass Corporation in Williamsport to obtain environmental technology verification for a new waste water treatment system. Cromaglass technology is used for nutrient removal in environmentally sensitive areas, such as the Chesapeake Bay Watershed, for waste water recycling and reuse. The company will team up with Lycoming College to verify the system’s ability to remove pollutants from waste water.

Hill Crest Laminating, LLC, in Danville, will receive $35,000 to develop a comprehensive marketing plan and financial strategy to help the company expand. Hill Crest laminates fabric to foam and other substrates for a variety of clients and applications.

Ben Franklin TechVentures, BFTP’s new incubator/post-incubator facility, builds on the success of the Ben Franklin Business Incubator based at Lehigh University. Eight of the ten business incubators in the Northeast Pennsylvania network will receive funding from BFTP: Bridgeworks Enterprise Center in Allentown ($30,000), Carbondale Technology Transfer Center ($30,000), East Stroudsburg University Business Accelerator ($40,500), Innovation Center @ Wilkes-Barre ($42,750), Hazleton CAN BE Incubator ($37,500), Pottsville/Schuylkill Technology Incubator ($18,000), Scranton Enterprise Center ($34,500), and Sayre Enterprise Center ($32,000).

Source: Laura S. Eppler, Ben Franklin Technology Partners of Northeastern Pennsylvania
Writer John Davidson