L to R: Paul Eisenhuth, CEO of CEWA Technologies, winner of Ben Franklin Venture Idol; Al Philpotts, Manager of Manufacturing Programs for Ben Franklin Technology Partners of Northeastern Pennsylvania; and event emcee Richard Fox, Managing Director, Cross Atlantic Capital Partners

Approximately 200 guests attended the day-long event which highlighted early-stage entrepreneurs seeking and obtaining seed capital. Venture Idol began with three entrepreneurs seeking funding for their early-stage companies. They presented pitches to a panel of investors and the audience. Led by Venture Idol emcee Richard Fox, Managing Director, Cross Atlantic Capital Partners, the investors asked questions, the audience voted and CEWA Technologies was named the 2010 Venture Idol winner.

Paul Eisenhuth, CEO of CEWA Technologies, a solar dish manufacturer, accepted the prize of a $5,000 cash investment in his company. HealthOneMed and Aware Pro, Inc. also competed and received cash investments.

CEWA Technologies designs and manufactures point concentrator solar dishes. With a unique design using existing materials, CEWA’s dish can provide 30kW of thermal energy at prices that are less than existing technologies, and are competitive with fossil fuels without relying on government subsidies. The solar dish is easy to install, operate, and maintain. It can be used for space or process heating, HVAC, or electricity generation. CEWA’s solar dish will be sold to industrial, institutional and utility customers. CEWA Technologies is a resident company in Ben Franklin TechVentures.

Ben Franklin Venture Idol presenters were critiqued by three institutional investors, Loren D. Danzis, Chair of Screening Committee at the Delaware Crossing Angel Group, Michael J. Gutch, Ph.D., Director of H.I.G. Ventures and David Nevas, Business Development Associate at the Edison Venture Fund.

The day began with a “speed dating” session in the morning. Twenty-four pre-selected companies delivered multiple rounds of two-minute “elevator pitches” to individual institutional and angel investors. Two minutes, about the length of an elevator ride, provided just enough time for the company CEOs to pique the interest of investors. To help improve the companies’ chances to obtain funding, they met with Steve Bowman, known as the “Pitch Doctor.”

The event was hosted by Fred Beste, Managing Partner, Mid-Atlantic Venture Funds, Bethlehem. The evening included opportunities for guests to network with exhibiting early-stage entrepreneurs, private investors, and representatives of venture capital firms.

The company, founded by medical professionals, has worked for the past two years on developing solutions that make the care of intravenous catheters easier and safer in order to fight infection.

PSI Medical began as an idea shared by Meadville anesthesiologist Anthony Colantonio and veterinarian Menno Jager to combat the problem of catheter-related infections that claim more than 30,000 lives a year.

“We are positioned to be the first company to enter that marketplace with a total solution for disinfecting of the IV and the catheter tubing,” says Chris Cuzzola, PSI Medical’s general manager.

PSI Medical has recently moved to Gannon University’s Erie Technology Incubator and has raised more than $1 million from angel investors, according to Cuzzola. The company is committed to building its products in northwestern Pennsylvania, drawing on local expertise in plastics, tool and die and mold making.

“Because of what Ben Franklin Technology Partners does—investing in tech-based startups—we see and review hundreds of business plans every year,” says Elizabeth Wilson, director of marketing for Ben Franklin Technology Partners/Central and Northern Pennsylvania. “When we read theirs and heard them make their first presentation, we knew they were onto something big.”

RantNetwork, Inc. and Chaperone Technologies, Inc. also competed and received cash investments. All three companies are Ben Franklin Technology Partners’ clients.

Apeliotus Vision Science has developed a simple diagnostic for the early detection of age-related macular degeneration (AMD). AMD is the leading cause of adult blindness in developed countries, affecting more than 30 million people worldwide, including one in six over age 65 and one in three over age 75. There are currently no good means for early detection before significant vision loss has occurred. Apeliotus’ simple, noninvasive test can detect and track AMD from its earliest stages, allowing early intervention.

About Venture Idol

On November 5, 2009 in Scranton, approximately 250 guests attended Ben Franklin Venture Idol, an event similar to “American Idol” but with entrepreneurs substituting for singers. A “speed dating” session, during which companies rapidly presented to investors, started the day, and Jack Tighe of TMG Health, Scranton, presented the lunch keynote. The Venture Idol afternoon program featured three early-stage entrepreneurs seeking funding presenting pitches to a panel of investors, with the audience voting for the winner.

Led by emcee Rob McCord, Pennsylvania state treasurer, the 2009 Venture Idol concluded with a networking reception. The event was hosted by the Pennsylvania Department of Community and Economic Development, the Scranton Lackawanna Industrial Building Company (SLIBCO), Ben Franklin Technology Partners, the Pennsylvania Angel Network and the Northeastern Pennsylvania Venture Partnership.

The idea to bring Ben Franklin Venture Idol to Scranton was initiated by Austin Burke, President of the Greater Scranton Chamber of Commerce/SLIBCO, with the full support of John Sider, Deputy Secretary of the Pennsylvania Department of Community and Economic Development.

“RoseAnn Rosenthal and the other winners of this award are doing important work in underserved communities across the country, during particularly challenging economic times,” says Ben Dupuy, executive director of the NCFC. “Rosenthal is a true champion of small business development, and her leadership will continue to have a measurable impact on access to capital in Pennsylvania, leading to job creation and business growth in the communities that need it most.”

“There has never been a more crucial time for innovative programs that promote access to capital and foster entrepreneurship, and I am honored to be recognized as a Champion of Small Business by the National Coalition for Capital,” said Rosenthal.

Rosenthal has decades of experience in business investment, regional planning and economic development. Her efforts have made a significant difference to entrepreneurs in her region and beyond. She is currently serving as president and CEO of Ben Franklin Technology Partners of Southeastern PA, which invests and provides commercialization and business assistance to technology firms and startup companies.

In addition to significantly enhancing Ben Franklin Technology Partner’s investment, technology transfer and business service initiatives, Rosenthal’s leadership has transformed the organization into a major catalyst for regional growth and competitiveness through collaborations with business and economic development partners, research and development facilities and educational institutions.

It was among those selected from 1,800 candidates that have invested in two or more technology companies in the past five years.

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RoseAnn B. Rosenthal, President and CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania, was honored with a “Champion of Small Business” Award from the National Coalition for Capital. Rosenthal and other community leaders and elected officials from around the nation were recognized for their efforts at the National Coalition for Capital Awards Ceremony and Dinner, held on July 21st at The Capital Grille in Philadelphia, Pa. The Champion of Small Business Awards recognize individuals for taking a leadership role in supporting innovative economic development initiatives designed to encourage the growth of emerging businesses.

“RoseAnn Rosenthal and the other winners of this award are doing important work in underserved communities across the country, during particularly challenging economic times,” said Ben Dupuy, executive director of the National Coalition for Capital. “Rosenthal is a true champion of small business development and her leadership will continue to have a measurable impact on access to capital in Pennsylvania, leading to job creation and business growth in the communities that need it most.”

Rosenthal is to be saluted for her decades of experience in business investment, regional planning and economic development. Her efforts have made a significant difference to entrepreneurs in her region and beyond. She is currently serving as President and CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania, which invests and provides commercialization and business assistance to technology firms and start‐up companies. In addition to significantly enhancing Ben Franklin’s investment, technology transfer, and business service initiatives, Rosenthal’s leadership has transformed the organization into a major catalyst for regional growth and competitiveness through collaborations with business and economic development partners, research and development facilities, and educational institutions.

“There has never been a more crucial time for innovative programs that promote access to capital and foster entrepreneurship, and I am honored to be recognized as a Champion of Small Business by the National Coalition for Capital,” said Rosenthal.

The National Coalition for Capital (NCFC) is a non‐profit, nationwide coalition of leaders supporting  economic development and job creation through long‐term access to capital for entrepreneurs and emerging companies. NCFC’s mission includes serving as a resource for promising small and emerging companies, entrepreneurs, investors, economic developers, and other stakeholders within the nation’s emerging infrastructure. To learn more about NCFC, visit www.nationalcoalitionforcapital.org.

Ben Franklin Technology Partners of Southeastern PA is the region’s catalyst for Stimulating Entrepreneurial Potential. We invest in innovative enterprises and create commercialization pathways that generate wealth through science and technology. Part of a statewide network in Pennsylvania, Ben Franklin provides entrepreneurs and established businesses with the Capital, Knowledge and Networks to compete in the global marketplace. We have provided more than $130 million to grow more than 1,600 regional enterprises, and are founding partners of The Nanotechnology Institute^TM (NTI), Mid-Atlantic Nanotechnology Alliance (MANA®), Emerald Stage2 Venture Fund, and the Minority Angel Investor Network. Ben Franklin is part of the Commonwealth of Pennsylvania’s Ben Franklin Technology Partnership. For additional information, please visit www.sep.benfranklin.org.

The contest, which attracted a record number of over 100 applicants, was sponsored by the Ben Franklin Technology Partners of Central and Northern Pennsylvania. Other sponsors included the Ben Franklin Venture Investment Forum, the York Keystone Innovation Zone and the law firm of Buchanan Ingersoll and Rooney.

“We had a tremendous response to this year’s competition and we are proud of the outstanding work done by PSI Medical as well as the second place winner, Scribe Printing Technologies” say, Stephen Brawley, CEO of BFTP/CNP. “We recognize the time and energy commitment both companies made in order to participate and it is my pleasure to congratulate them both. In fact, all of the applicants deserve a round of applause and are free to contact us with questions regarding our investment opportunities.”

About PSI Medical

PSI Medical Catheter Care: Anthony Colantonio, MD, and Menno Jager, DVM

From their Meadville, Pennsylvania location, Dr. Colantonio and Dr. Jager have worked for the past two years on developing solutions that make the care of intravenous catheters easier and safer. According to Dr. Colantonio, “Over 250,000 intravenous catheter infections occur in patients each year in U.S. hospitals, resulting in nearly 30,000 deaths. Our goal is to make intravenous catheter care safer for all patients, eliminating the infections and deaths associated with these catheters.” The company has been working toward final production of their novel devices in conjunction with Multi-Plastics Inc., a division of CORE Manufacturing based in Saegertown, Pennsylvania.

Steve Carpenter, a member of the judging panel and the vice president of venture operations for the Life Sciences Greenhouse of Central Pennsylvania says, “I was impressed with all of the candidates for this year’s contest. But PSI Medical was particularly outstanding because they articulated a compelling business plan that covered all of the critical areas for a startup company: identifying a major problem to be addressed, providing a novel approach to solve it, recognizing other talent needed to be successful and developing a viable financial plan to commercialize the technology.”

“PSI Medical’s products are innovative, and they provide a practical way to reduce hospital-related infections,” said Dean Bunnell, also one of the judges for the competition and the CEO of Indigo Biosciences. “They are easy to use and the company already has a prototype ready to be commercialized. These factors really set them apart from the competition.”

About Scribe Printing Technologies

Scribe Printing Technologies: Frank Pagano and Robert Deets

A second place prize of $10,000 was awarded to Scribe Printing Technologies of Cochranton, Pennsylvania. Robert Deets and his team developed a revolutionary high speed unit that prints variable, unique data on plastic parts. When used in the medical device market, the Scribe Printer creates the ability to serialize products such as syringes.

Founded in 2008, Scribe Printing Technologies Inc. currently has two fully functional printers in use. The design enables the ability to print on plastic products using a digital process that is high speed, non-contact and full color with variable data. Robert Deets, a manufacturer of plastic components, partnered with Frank Pagano and Glenn Sahlin–experts in the development of custom software and the science of motion control–to offer the market this innovation in printing technology.

The i xchange combined the presentation of BFTP/NEP’s fifteenth annual Innovation Awards and executive networking sessions with a keynote address by Jeff DeGraff. DeGraff is known as the “guru to the innovation guru” at Fortune 500 companies, having created a broad array of widely used tools and methodologies for implementing innovation.

DeGraff is a professor at the University of Michigan’s Ross School of Business. He is also the managing partner of Competing Values Company, a consulting firm that assists leaders in facilitating change and the executive director of the Innovatrium Institute for Technology.

The event included the presentation of BFTP/NEP’s Innovation Awards, presented in eight categories to companies, organizations or individuals who have achieved business success through BFTP/NEP, have helped others to achieve success or who have improved their business through innovation.

Click here to view a gallery of images from the 2009 i xchange.

The 2009 Northeastern Pennsylvania Innovation Awards winners are:

Entrepreneurial Achievement

The individuals who best exemplify the quintessential entrepreneurial spirit: a combination of ingenuity, hard work and innovation that has resulted in the creation of a successful and growing business venture.
Scott Sanfilippo and Joseph Palko, Co-Founders, Solid Cactus, Shavertown
Solid Cactus is the largest developer of e-commerce stores using the Yahoo! Store platform. It is a total solutions e-commerce company, providing a range of products including search engine optimization, affiliate program management, e-commerce store development, print and website design, call-center services and back-end order management. Company principals leveraged their Internet expertise to start Solid Cactus in 2001 after growing and selling one of the first e-commerce stores, which they launched in 1994. Ben Franklin helped Solid Cactus to refine its strategic business plan and invested in new product development for its flagship software product, FeedPerfect. In 2007 and 2008, Solid Cactus was listed among the Inc. Magazine top 500/top 5,000 fastest-growing private companies in the U.S. and was named one of the “Best Places to Work in Pennsylvania” in 2006, 2007 and 2008. Solid Cactus’ staff grew 40 percent last year to 150 employees and the company was just successfully sold to web.com.

Academic Partner

An individual affiliated with an institute of higher learning that has contributed his time and expertise to supporting the BFTP program. This person’s contribution has clearly surpassed “normal” expectations for involvement with and support of the Ben Franklin Technology Partners.

Dale F. Falcinelli, Professor of Practice, Lehigh University, Bethlehem, PA
A long-standing and eminently qualified resource to BFTP/NEP clients and consultant to hundreds of firms for more than three decades, Dale Falcinelli is a key source of strategic-level guidance and direction to early-stage companies. His skills are a rare combination of marketing expertise and financial acumen in approaching solutions from an enterprise-wide perspective. Falcinelli has served on more than 20 corporate boards, often assuming leadership roles including chairman.

He pioneered an innovative model in entrepreneurship education through VENTURESeries, a highly popular track in Lehigh’s MBA program that builds on every aspect of new venture creation. For this loyal Lehigh alumnus, VENTURESeries represents his legacy. Falcinelli holds the position of Professor of Practice, a title that recognizes his vast experience and mastery of entrepreneurship. He was twice named the Swartley Visiting Professor of Entrepreneurship and won the Lehigh MBA Teaching Excellence Award three times. Dale Falcinelli brings an unsurpassed passion and enthusiasm to his work that is energizing, motivating and infectious to his clients and students.

Incubator Graduate

The company that has best demonstrated successful BFTP/NEP business incubation. The business has been operated skillfully and confidently, meeting all challenges from the development of the product concept, execution of the business and technical plan, successful startup and operation to graduation from the incubator.

Right Reason Technologies, East Stroudsburg, Thomas C. Schmitt, Co-Founder
Right Reasons Technologies is an eLearning provider that offers comprehensive software solutions, web-based training courses and a variety of content and software services. The company’s product line includes two proprietary learning management systems. CyberExtensionTM is targeted to secondary education and blends the advantages of distance education and conventional classrooms to educate non-traditional learners while containing costs.

RightTrackTM provides organizations with the ability to deliver and track web-based training among employees. Right Reason Technologies is a 2008 graduate of the East Stroudsburg University (ESU) Accelerator and will be an anchor tenant in ESU’s expanded incubator, both of which are in the Pocono Mountains Keystone Innovation Zone. The company was awarded a Wall Street West grant for its “Bridging the Gap” initiative, developed in partnership with ESU. The company has grown to 15 employees and revenue increased more than 25 percent in 2008.

Product Innovation

The company that best demonstrates the commercialization of a unique, innovative product that creatively and effectively meets a market need.

Saladax Biomedical, Bethlehem, Salvatore J. Salamone, Ph.D., CEO and CSO and Adrienne Choma, Esq., President and COO
Saladax Biomedical is pioneering the development of simple blood tests to enable oncologists to adjust and personalize chemotherapy drug dosing by measuring its concentration in the blood of cancer patients. Individual absorption rates of chemotherapy drugs vary widely and the optimum level of medication is critical to effectively treat the cancer while minimizing debilitating and potentially life-threatening side effects

Saladax began in the Ben Franklin Business Incubator, is currently located in Ben Franklin TechVentures and has received three BFTP/NEP investments in addition to comprehensive startup support services in the incubator. Since joining the BFTP/NEP portfolio in 2004, Saladax has received seven patents with an additional 7 patents pending, raised $12.2 million in follow-on funding including investments from the Life Sciences Greenhouse, Delaware Crossing and other angels and venture capitalists and increased employment from the two original founders to 16 people.

Innovative Application of Technology

The company that best demonstrates a “break the mold” approach to integrating new or existing technology into a manufacturing environment.

Diversified Information Technologies, Scranton, Scott Byers, Esq., President & CEO
Diversified Information Technologies provides automated information management solutions to clients in the insurance, financial services, health care and government sectors to perfect their business processes and secure compliance. Diversified began as a records storage company 26 years ago as a lower-cost alternative to companies in New York City. In 1987, Diversified recognized an opportunity to prepare to meet changing market needs and worked with Ben Franklin and Wilkes University to re-engineer its service offerings.

Diversified developed a communication center for electronic vaulting, a technologically sophisticated application that utilizes satellite transfer communications and Internet capabilities. Today, Diversified’s core competencies in data capture, processing and preservation result in reduced cost, shorter cycle time and risk mitigation for clients’ critical information management needs. Diversified now employs 375 Pennsylvanians and credits 264 of those jobs to its work with Ben Franklin.

Manufacturing Achievement

The company that best exemplifies achievement in the manufacturing arena, showing a proven track record of success and an unbending commitment to achieving and maintaining excellence in manufacturing.

United Corrstack, Reading, David F. Stauffer, General Manager
At a time when recycling, renewable fuel and energy independence are at the forefront of national consciousness, United Corrstack (UCI) is a model of green efforts. The company produces recycled corrugated fluting paper, which is a component of cardboard boxes and is in the process of developing its own power plant that burns biomass organic waste. UCI worked with BFTP/NEP and Northampton Community College’s Electrotechnology Applications Center (ETAC), first to evaluate options to allow higher throughput at the facility and later to assess boiler fuel alternatives for UCI.

Because of rising energy costs, UCI is creating its own cogeneration plant, generated by materials such as wood and agricultural waste, to provide steam and electricity. UCI currently employs 80 and through the energy plant has created 25 new positions. UCI’s work with BFTP/NEP and ETAC helped the company to significantly improve its competitive position and will increase employment and reduce landfill waste in the region.

Entrepreneurial Advocate

Individuals from the community who have contributed their leadership, time and expertise to helping entrepreneurs and the Ben Franklin Technology Partners accomplish their goals. These people demonstrate a sincere and selfless desire to see the region thrive and back up their commitment with appropriate action.

Yvette and William Palmer, Principals, CFO & Stuff, LLC, Emmaus
Yvette Palmer has worked with BFTP/NEP clients for more than a decade, providing pro bono reviews and critiques to a number of business plans and feedback to companies on the financial and operational aspects of starting and operating a business. Bill Palmer, Yvette’s husband and business partner, complements her expertise with deep operational and management experience as former president of two manufacturing enterprises. These diversified skill sets allow CFO & Stuff to understand clients from a multi-faceted perspective, providing companies with comprehensive and coordinated input.

CFO & Stuff has worked with BFTP/NEP clients including Acurlite, American Holtzkraft, Blazing Technologies, Effort Foundry, Fragrance Manufacturing, the Halide Group and Spectrum Diving, among others. The Palmers help early-stage clients with pro forma budgets, including pricing and costing assistance, provide cash management and operational budgeting assistance to manufacturers and share expertise on financial management and analysis and financing options with all clients.

Special Achievement

An individual whose strong vision, dedication and commitment to the program have helped to bring about a better business environment for BFTP/NEP clients.

Ellen T. Horan, President and CEO, Greater Reading Chamber of Commerce and Industry
Ellen Horan has been a valued partner with BFTP/NEP since 1995, to the tremendous benefit of the business community in Greater Reading. Years ago, Horan worked with Ben Franklin and the Berks Business-Education Coalition to develop a dislocated worker training program to address the local need for manufacturing workers. On an ongoing basis, she links BFTP/NEP with prospective clients and is a source of referrals for the BFTP/NEP-led Medical Devices Consortium.

In 2005, Horan was named president of the combined Berks Chamber of Commerce and Manufacturers’ Association of Berks County because of her comprehensive understanding of and ability to advance both the manufacturing and business communities in the region. Horan was selected as a Fellow in the Ford Foundation Regional Sustainable Development Program in 2008 and was named the Girl Scouts of America Women of Distinction recipient in March 2009. In January of 2009, the Greater Reading Chamber that she leads was awarded the highest rating possible, five-star accreditation, by the U.S. Chamber of Commerce.

Jon Scott, President of the Berks Economic Partnership, congratulates Terry Singer, BFTP's Director of Statewide Affairs, on the organization's award for technology-based economic development initiatives from the International Economic Development Council. Both were among the many attendees at the annual conference.

Ben Franklin Technology Partners (BFTP) was awarded the International Economic Development Council’s (IEDC) highest honor for the Pennsylvania-based organization’s technology-based economic development initiatives at IEDC’s Annual Conference in October 2008 in Atlanta.

“Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country,” says Robin Roberts Krieger, IEDC chair. “As the nation continues to tackle longstanding challenges in the midst of an inhospitable financial climate, these efforts have taken on an even greater significance. With the award, we laud trendsetting organizations like the Ben Franklin Technology Partners for leading the charge.”

IEDC received almost 500 nominations from around the world for recognition in a broad range of economic development categories, and BFTP was one of 25 organizations and individuals recognized for outstanding achievement. Competing in the category of “Technology-Based Economic Development by Organizations Serving Areas with Populations Exceeding 200,000,” BFTP was a clear standout. BFTP is one of the most highly regarded and longest-running programs in the country dedicated to growing a state’s technology-based economy.

“It is truly an honor to receive this international recognition for the work of the Ben Franklin Technology Partners, and we are particularly proud to accept this award in our 25th anniversary year,” says Terry Singer, Director of Statewide Affairs for BFTP. “Our success and the success of our portfolio companies reflect the support we have received from the Commonwealth over the past quarter-century, and the dedication and commitment of the four BFTP regional chief executive officers and their teams.”

In April 2008, the BFTP network was recognized by the US Department of Commerce as the most outstanding technology-led economic development organization in the country.

Regional Strength, Statewide Focus, Global Impact

BFTP has been embraced by every Pennsylvania governor and General Assembly since its inception in 1983 and remains the country’s gold standard for state and regional technology-based economic development programs. Its longevity is due to its consistent positive impact, including the creation and retention of tens of thousands of jobs in Pennsylvania, in industries that pay 28 percent higher than the statewide average.

Over the past three years alone, BFTP assisted client companies in creating or retaining 9,410 jobs, provided 758 companies with financial assistance or investment, provided 2,483 companies with business or technical assistance and helped companies create 751 new or improved products or processes.

During the same period BFTP, portfolio companies also collectively generated $1.1 billion in follow-on funding, helping fuel these companies’ growth and enabling success. BFTP has boosted the state’s economy by more than $8 billion, and every public dollar invested in BFTP yielded nearly $23 of additional state income.