Ben Franklin Technology Partners of Southeastern Pennsylvania, aka “Startup Santa,” is closing 2014 with $2.8 million in investments to 16 companies. The largest dollar share, $1.5 million, is allocated to the life sciences sector; $925,000 is going to IT companies and $400,000 to the physical sciences.
Advent Therapeutics in Bucks County focuses on providing therapies for micro-orphan applications. The company is currently working on its first product, which will address a serious disorder in newborn infants in the ICU.
AlphaPoint is the leading exchange technology platform provider to support digital currencies. Working with some of the top Bitcoin and altcoin exchanges in the world, AlphaPoint’s platform is faster than traditional digital currency exchanges with the ability to process nearly one million transactions per second. The company has offices in Philadelphia, New York and San Francisco.
Philadelphia’s Edify Investment Technologies has the potential to radically alter how typical new home construction is built, marketed and financed. Edify’s software shifts the financing responsibility of purchasing land and constructing homes from the land developer to the home buyer in exchange for a discount on the home’s purchase price, offering significant advantages for all parties within the transaction.
Montgomery County’s Core Solutions is transforming the health and human services experience by improving the provider, client and payer relationship. Its technology has the ability to simplify the end-to-end behavioral health experience, deliver integrated care coordination, improve consumer engagement and streamline accurate provider reimbursement.
Fischer Block in Montgomery County is at the forefront of the Industrial Internet, bringing an unprecedented value proposition to the electrical power industry. With a unique solution to embed millions of advanced high-speed sensors throughout the electrical grid, this widely deployed platform will become the industry standard for applying data analytics and predictive analysis techniques, and will improve energy reliability and prevent power outages at a fraction of the cost of traditional alternatives.
In Philadelphia, Infarct Reduction Technologies is developing a device, the LifeCuff, to deliver an ischemic pre-conditioning protocol. Ischemic preconditioning has been found to improve outcomes in heart attack, stroke, sepsis and other conditions. Currently the only other method of providing this protocol is manually via intensive care, surgical or emergency medical staff.
Opertech Bio in Philadelphia has developed a revolutionary approach to taste testing, a multi-billion dollar market covering the food and beverage, flavor ingredients, pet food and pharmaceutical industries. Opertech Bio’s technology can be used to discover new flavor ingredients, measure palatability and optimize flavor formulations. Opertech’s proprietary technology accomplishes the task of taste testing on hundreds of samples in an afternoon, using far fewer subjects and samples at a fraction of the cost, with greater accuracy and consistency than previously possible.
Bucks County’s OrthogenRx is a late-stage, product-development company focused on the commercialization of class-III orthopedic medical devices. Its business model is to obtain exclusive licenses for products currently on the market outside the United States and seek FDA regulatory approval through a novel regulatory pathway. OrthogenRx is positioned to be the first company to obtain approval for a generic Class III medical device using this pathway by the end of 2014. The company will launch its first product in early 2015 and file for several additional product approvals by the end of 2015.
In Montgomery County, PhotoSonix Medical is developing a treatment for dermal diseases generated by bacterial biofilm, such as acne. Biofilms, which make treatment extremely difficult, shield bacteria from attack by both drugs and the immune system, often inducing a chronic inflammatory response. Photosonix’s product, CLENS™, cuts through biofilm by combining both ultrasound and violet light, killing underlying bacteria.
Polynetworks in Montgomery Count has developed a secure, open architecture PaaS (platform-as-a-service), which allows multiple types of sensor data to be captured, processed and transmitted to multiple users in real time using any communication media. This “any data, any device, anywhere” solution is scalable to multiple applications. Potential markets include defense and law enforcement; emergency response; heavy industries such as energy, mining and construction; infrastructure security such as city, schools and hospitals; and information gathering such as news media, unmanned aerial vehicles (UAV) and robotics.
In Chester County, Stabiliz Orthopaedics focuses on developing, refining and bringing to market innovative orthopaedic medical devices. The company has crafted a proprietary plate and screw system used for the treatment of traumatic bone fracture. By integrating biocompatible metals with bioabsorbable polymers, Stabiliz’s technology allows clinicians to customize the repair process for every patient, eliminating the need for future surgeries and reducing costs to burdened healthcare systems.
Squareknot in Philadelphia has the simple goal of allowing everyone to do more with its interactive outlet for making how-to-guides. The Squareknot platform allows users to generate step-by-step guides from scratch, or contribute to someone else’s project, or branch off in a new whole direction.
Developed in Montgomery County, Superior Solar Design’s “SolarPower Table” is a collaboration of world class engineering and photo-voltaic science. The SolarPower Table is a highly reliable, year-round, off-grid solar energy charging station for cell phones, mobile devices and small electronic equipment.
Montgomery County's Telefactor Robotics is a research and development company focused on commercializing advanced vision systems and dexterous manipulation solutions for the first responder and military explosive ordnance disposal markets. The company’s suite of integrated technologies components add value to military and security robots, and enable new forward-looking industrial and manufacturing applications.
In Philadelphia, TowerView Health’s mission is to ensure that patients never miss a dose of critical medication. The company has developed a smart pill box and accompanying pre-filled medication trays that fit into the pill box like a k-cup fits into a Keurig. The pill box senses the presence or absence of medication and automatically reminds patients via text message or phone reminder when they’ve forgotten a dose. The data generated by the pill box will be accessible to clinical staff, allowing them to efficiently monitor patients.
Philadelphia’s Yorn is a unique, closed-loop platform for healthcare, business and hospitality settings, enabling patients/consumers and participants to provide feedback, in the moment, on any experience. Utilizing a unique URL through a smartphone, tablet or any web-enabled device, participants can submit comments or ask questions.
Writer: Elise Vider
Source: Ben Franklin Technology Partners of Southeastern Pennsylvania