Ben Franklin Technology Partners of the Northeast Pennsylvania (BFTP/NEP) board of directors has approved an investment of US$495,000 to support regional economic development. 11 companies from BFTP/NEP 21 county service areas received funding.
BFTP/NEP announced the following early-stage company investments, which are provided in the form of loans and warrants.
Applied Cadence, LLC, https://www.UnisonWorkforce.com, Scranton
Develop, test and commercialize "CareWide", an easy-to-use mobile application with a web-based management dashboard that allows individual home caregivers to manage their services in an affordable way, Verify their time and get paid seamlessly. The patented software as a service (SaaS) platform maximizes the efficiency of home caregivers and provides information and safety for patients, family members, and caregivers. The company's mission is to bridge the gap between independent workers and customers who need home services, so that older people can stay at home longer.
DetectBee, Inc., https://www.detectbee.com/, Bethlehem
Completed the development and commercialization of DetectBee's MVP Software as a Service (SaaS) platform, which allows users to detect network security vulnerabilities in their own systems and third-party systems that are bound to them through interfaces. By providing a "hacker perspective" of the network, DetectBee protects customers and their supply chains.
Low & Go, LLC, http://www.lowandgo.org/, Honesdale
Support marketing, durability and safety testing to commercialize electric wheelchairs with standard rear-wheel drive and a lower center of gravity, providing "no prompt" versatility for indoor or outdoor use. The chair can extend 22 inches when lowering itself into a trolley configuration for greater versatility. Low & Go wheelchairs can safely travel at speeds of up to 6.5 miles per hour in places inaccessible to other wheelchairs (including trails and woodlands), and allow users to pick up items from the ground.
Huntley Company, https://www.shuntley.com/, Easton
Obtained a license for S. Huntley & Company in Pennsylvania and New Jersey to become a non-bank motor vehicle financial institution. In addition, ensure dealer partners, start to build a website, and launch a monthly subscription service to support financing tools. The company's product, Toppcar.com, is an online retail and financing platform that allows consumers and dealers in a growing group of modern classic car enthusiasts to purchase and finance cars entirely online.
Thread Bioscience, https://threadb.com/, Ben Franklin TechVentures, Bethlehem
Commercialized CultureStat, a patented diagnostic test for urinary tract infection (UTI), which is faster, more accurate and less costly than current tests. CultureStat can be used at points of care to reduce frequently misdiagnosed UTIs and incorrect antibiotic prescriptions. It is estimated that there are 150 million UTIs each year, which is the most common infection among women and the second leading cause of infections overall, accounting for US$6 billion in healthcare expenditures.
Ben Franklin (Ben Franklin) provides 1:1 matching funding for technology-based innovation work with college or university partners in mature manufacturers.
Bosch Rexroth Company, www.boschrexroth-us.com, Bethlehem
University partner: Lehigh University’s Enterprise System Center
Develop and implement simulation-based scheduling software for the company's CNC machine tool scheduling system to increase output and shorten delivery time to provide greater production capacity. Bosch Rexroth manufactures motion control equipment, including hydraulic and pneumatic components.
Gillette Industrial Services, https://dgindustrialservices.com/, Bangor
University partner: Lehigh University’s Enterprise System Center
Complete the facility layout plan for the company's new park to promote growth and prepare for ISO quality system certification. D. Gillette Industrial Services designs, manufactures, and repairs and maintains equipment for US military and industrial customers.
Heyco Metals, Inc., www.heycometals.com, Reading
University partner: Opak Institute of the University of Alvinia
Implement a new enterprise resource planning (ERP) system to improve the supply chain and customer service, and support growth. Heyco Metals is a precision rolling mill that produces high-quality, thin-gauge, copper, copper alloy and stainless steel strip products that meet stringent specifications for the automotive, aerospace, connector, and consumer electronics industries.
Joe Jurgielewicz & Son, LTD, https://www.tastyduck.com/, Hamburg
University partner: Opak Institute of the University of Alvinia
Develop factory layouts for new facilities and develop overall manufacturing site master plans to increase production capacity and optimize production. Joe Jurgielewicz & Son is a duck production company that provides services to restaurants, food services and institutions in the United States. The company vertically integrates from farming to delivery, and adopts environmentally friendly and sustainable farming methods.
LifeAire Systems, LLC, www.lifeaire.com, Allentown
Develop other applications for LifeAire Systems' technology. LifeAire discovers, develops, manufactures and commercializes revolutionary air purification systems for the healthcare industry. These systems are clinically proven and proprietary, and can effectively eliminate live and chemical pathogens at one time without producing harmful by-products or ozone.
S&W Metal Products, LLC, https://swmetalproducts.com/, Gilbertsville
University partner: Opak Institute of the University of Alvinia
Model existing production facilities to optimize process flow and adapt to the purchase of new equipment. Develop master plans for strategic facilities to support the company's long-term growth goals. S&W Metal Products is a full-service sheet metal processing workshop that manufactures a wide range of repetitive and custom precision engineering products.
About Ben Franklin Technology Partners in Northeast Pennsylvania
Ben Franklin Technology Partners (BFTP/NEP) in northeastern Pennsylvania helps them through innovation by investing in companies and connecting them with experts, universities, follow-up funding, and other resources to create and retain high-paying, sustainable jobs prosper. It is part of PDCED's four-center economic development plan, funded by the Ben Franklin Technical Development Agency.
The BFTP/NEP strategy includes three key areas:
Since it began operations in 1983, BFTP/NEP has generally been one of the top 5% of the most active investors in the United States, and helped Pennsylvania workers create 19,740 new jobs and retain 49,864 existing jobs. 531 new companies were established, and 2,296 new products and new processes were developed. Since 2007, BFTP/NEP customers have received more than $1.6 billion in follow-up funding. For every $1.00 invested in the program by the Ben Franklin Technology Partner Network in Pennsylvania, it will return $3.90 to the State Treasury.
BFTP/NEP is owned, managed and headquartered in Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility located on the campus of Lehigh University in Bethlehem. BFTP/NEP also owns and manages the Bloomsburg Regional Technology Center. With more than 37 years of experience and two outstanding international business incubation awards, BFTP/NEP leads a 14-member business incubator network and is one of the largest business incubator networks in the country.
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Name: Laura Eppler Email: leppler@nep.benfranklin.org Position: Chief Marketing Officer