Ben Franklin Technology Partners of Northeastern Pennsylvania’s (Ben Franklin Northeast) Board of Directors has approved the investment of $675,000 in support of regional economic development.
Seven companies, including six technology startups and one established manufacturer, received funding. Two are based in Bethlehem, and one is based in Easton.
Ben Franklin Northeast announced $350,000 in early-stage company investments. They include: $100,000 to Click-Video of Scranton, Lackawanna County; $100,000 to Greener Cleaner Technologies of Carbondale, Lackawanna County; $50,000 to Cemboo of Reading, Berks County; and $100,000 to OptoVibronex Ben Franklin TechVentures, of Bethlehem, Northampton County.
OptoVibronex is a life science startup developing a non-invasive technique that will offer physicians a faster way to diagnose diseases and track the effectiveness of treatments in fields such as skin cancer, ophthalmology, breast cancer, wound healing, dermatology, orthopedics, neurology, and vascular surgery. The investment supports completing clinical trials, publishing findings, and applying for Food and Drug Administration (FDA) approval.
Ben Franklin Northeast announced $300,000 in early-stage company investments as part of the State Small Business Credit Initiative (SSBCI). These projects were financed [in part] from Pennsylvania Small Business Credit Initiative funds from the Commonwealth of Pennsylvania, Department of Community and Economic Development.
They include: $200,000 to MXTR Automation of Williamsport, Lycoming County and $100,000 to UBMe of Bethlehem, Northampton County.
UBMe is a web and mobile application that provides end-to-end experience management for events. The platform incorporates event discovery, ticketing, food and merchandise sales, and a social media element to keep people engaged while at the event. The investment supports product development and customer acquisition among restaurants, event organizers, and higher education.
Ben Franklin Northeast also announced $25,000 in investments in established manufacturers, which is provided in 1:1 matching funding for work with a college or university partner.
Awarded $25,000 was: Follett of Easton, Northampton County.
Follett manufactures high-quality, innovative ice storage bins, ice storage and transport systems, ice machines, ice and water dispensers, ice and beverage dispensers, and medical-grade refrigerators and freezers for the food service and health care industries.
The investment supports preparation for an Enterprise Resource System (ERP) system upgrade by analyzing current processes, establishing system level requirements, identifying opportunities to implement digital process improvement, and helping to build a foundation for change management. Follett will partner with Lehigh University’s Center for Supply Chain Research on this project.
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