BFTP Northeastern PA to Invest $487,787 in Regional Economic Development
The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors approved an investment of $487,787 in support of regional economic development. The investments are with four early-stage technology companies and six established manufacturers.
BFTP/NEP’s goal is to help lead northeastern Pennsylvania to a better economic future by building partnerships that develop and apply technology for competitive advantage.
Ben Franklin announces the following established early-stage investments:
GrantAdler
Ben Franklin TechVentures
Bethlehem
Investment: $100,000
To complete development of a new vascular access port for easier, catheterized access to blood vessels, and support an expanded sales and distribution effort.
hField Technologies, Inc.
Ben Franklin TechVentures
Bethlehem
Investment: $70,000
To continue commercialization of the Wi-Fire™, an innovative, patent-pending wireless adapter that triples WiFi coverage for the mobile computer user. Also fund new product-line developments.
Penn Truss Systems, LLC
Middleburg
Investment: $50,000
To evaluate new product manufacturing capabilities and increase staffing to meet growing production and operation demands for this manufacturer of roof and floor trusses.
Store Eyes, Inc.
Allentown
Investment: $100,000
To conduct a pilot program of the Store Eyes retail audit business system with a major grocery retailer and packaged goods manufacturers.
Ben Franklin announces the following established manufacturer company investments:
Clark Technology Systems, Inc.
Milton
University Partner: Susquehanna University
Investment: $50,000
To implement Suppliers Excellence Alliance’s Roadmap, which establishes a process management system at this fabricator of lubrication equipment for chemical industries and refineries worldwide.
Coates Toners
Dallas
University Partner: Lehigh University’s Enterprise Systems Center
Investment: $50,000
To conduct a facilities evaluation and phased implementation for the installation and startup of a new color toner production line.
Michelman-Cancelliere Iron Works
Lehigh Valley
University Partner: Lehigh University’s Enterprise Systems Center
Investment: $19,900
Develop and implement plans to increase productivity and reduce costs in manufacturing and support areas at this structural steel fabrication firm.
Reading Alloys, Inc.
Robesonia
University Partner: Lehigh University
Investment: $6,887
To complete mechanical performance evaluations of a new powdered titanium alloy product being introduced to the market.
Sealstrip Corporation
Boyertown
University Partner: Lehigh University
Investment: $30,000
To increase the effectiveness of the engineering department and machine shop at this designer and manufacturer of easy-open and reseal systems for flexible packaging.
Tray-Pak Corporation
Reading
University Partner: Lehigh University’s Enterprise Systems Center
Investment: $11,000
To develop a facility plan that supports the company’s strategic growth plan to increase capacity. Address manufacturing operations on an enterprise-wide level that optimizes space and material resources at this custom thermoformed packaging manufacturer.
Tags: BFTP investment, filed under Client & Alumni News, News, Northeastern PA 