Ben Franklin to invest $220,000 in area firms
The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP-NEP) Board of Directors has approved the investment of $220,000 in support of regional economic development.
BFTP-NEP announces the following early-stage company investment that are provided in the form of loans with warrants.Those in the Lehigh Valley Press circulaton area include:
Skillion, LLC, Ben Franklin TechVentures, Bethlehem. Ben Franklin Investment: $40,000. Complete development of Skillion’s mobile app for remotely monitoring and controlling an electronic bike (e-bike) to prevent theft and-or manage e-bike rentals.
Ben Franklin announces the following established manufacturer company investments. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers.
C.F. Martin & Company, Inc., Nazareth. Ben Franklin Investment: $25,000. University Partner: Lehigh University Enterprise Systems Center. Improve the accuracy of sales forecasting by applying advanced analytics to internal sales data and integrating external econometric, manufacturing, and government research.
Material Solution Services, Northampton. Ben Franklin Investment: $25,000. University Partner: Lehigh University Enterprise Systems Center. Complete the formulation of new composite materials that can be used for general fill in land development, construction material, and mine reclamation. The composites will recycle various waste products in conjunction with a binding agent to reclaim abandoned sites for safe and productive reuse.