Ben Franklin to Invest $420,000 in PA Technology Companies

BETHLEHEM, Pa.--()--The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) approved the investment of $420,000 in regional companies. BFTP/NEP is an award-winning, state-funded economic development organization that links early-stage technology firms and established companies with experts, universities, funding, and other resources to help them prosper through innovation.

Since beginning operation, BFTP/NEP has helped to create 14,301 new jobs and retain 21,236 existing jobs, to start 408 new companies, and to develop 948 new products and processes. Ben Franklin has returned $3.50 to Pennsylvania for every $1.00 invested in the program.

BFTP/NEP announces early-stage company investments:

Blue Spark Interactive, LLC., Kingston - $35,000
Appoint a business consultant to further develop Blue Spark’s strategic plan for vertical market penetration and engage an intellectual property firm to enhance the company’s patent position. Blue Spark has launched a two-way, real-time communications platform that will change the way business professionals communicate. The company’s proprietary technology offers “next-generation” communication to various vertical markets.

Geostellar, Bethlehem - $150,000
Complete a software platform that computes the precise renewable resource potential over vast landscapes, providing location-specific energy intelligence. Geostellar is testing and commercializing a geomatics processing software platform. This platform applies mathematical models to data pertaining to the earth’s atmosphere and surface. The software identifies the best utility-, commercial- and residential-scale solar power sites for particular configurations based upon the resources, land use, transmission, and other factors. Additional software models are under development for natural gas, kinetic hydro-power, advanced biofuel feedstocks, and wind power location analysis.

Hydro4GE, Inc., Scranton - $35,000
Complete product beta testing, licensing documentation, and branding necessary for full release of Hydro4GE’s new Online-Development-Environment (ODE) software tool. This platform allows programmers to generate and support whole database systems from high-level specifications. Traditional software construction practices are often repetitive and labor intensive, and thus prone to error. Hydro4GE’s software delivers substantial programmer productivity gains, rapid application prototyping, and dramatic ongoing support efficiencies. This significantly reduces programming time and increases the accuracy in attaining the desired software program functionality.

Makefield Therapeutics, Inc., Bethlehem - $50,000
Continue pre-clinical testing toward commercializing Makefield’s innovative, proprietary, nanoparticle-based drug delivery platforms. The company has begun two development efforts in applications that offer extensive market opportunities, with the potential to generate a pipeline of additional medications. The first program is in anti-infectives, therapeutics in which drug resistance is a critical and growing problem in both community and hospital settings. Infections caused by antibiotic-resistant bacteria can be severe, rapidly spreading, and life-threatening, and currently represent a significant burden to worldwide healthcare systems.

rVibe, Bethlehem - $100,000
Continue commercialization of video conferencing services for sales training and other business instruction. rVibe’s software platform provides multi-point, high-definition, live-streaming video conferencing. Through its proprietary, highly interactive services, client companies significantly reduce training costs while retaining the effectiveness of communications.

BFTP/NEP announces an established manufacturer company investment.

Kraft Foods, Inc., Allentown - $50,000
Partner: Lehigh University’s Enterprise Systems Center
Conduct a baseline sustainability assessment at Kraft’s Lehigh Valley facility to identify opportunities for the implementation of alternative energy sources and greatly improved energy efficiencies for process improvement. Kraft Lehigh Valley produces snacks, confections, and quick meals. It has a strong reputation in the Kraft network for innovation as a facility that develops and implements a pipeline of new approaches.

Contacts

Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP)
Laura S. Eppler
Director of Marketing
Phone: (610) 758-5237
e-mail: leppler@nep.benfranklin.org

Release Summary

The Ben Franklin Technology Partners of Northeastern Pennsylvania approved the investment of $420,000 in regional technology companies.

Contacts

Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP)
Laura S. Eppler
Director of Marketing
Phone: (610) 758-5237
e-mail: leppler@nep.benfranklin.org