Ben Franklin to Invest $304,100 In Regional
August 03, 2010 09:10 AM Eastern Daylight Time
BETHLEHEM, Pa.--(EON: Enhanced Online News)--The Ben Franklin Technology Partners of Northeastern
Pennsylvania’s (BFTP/NEP) Board of Directors approved the investment of $304,100in support of regional
economic development. 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 for Pennsylvania workers and retain
21,236 existing jobs, to start 408 new companies, and to develop 948 new products and processes.
BFTP/NEP announces the following early-stage company investments:
Lazarus Therapeutics, Bethlehem -- $100,000
Conduct further pre-clinical testing for a new drug candidate for the treatment of Parkinson’s disease. This is being
completed in preparation for an Investigational New Drug filing. The company will also research the application of
this medication to other traumatic or degenerative neurologic conditions.
LMC Software Solutions,Morgantown -- $100,000
Assist LMC Software Solutions in the launch of its new software platform that supports information technology staff
dealing with problems within their companies. 24/7 monitoring and log trails are built in, providing complete audit and
compliance functions. Called Enterprise Technical Support Center (ETSC), this platform improves productivity and
service availability at a reduced cost.
Viddler, Inc., Ben Franklin TechVentures, Bethlehem -- $25,000
Continue commercializing Viddler's on-line video enhancement, distribution, and sharing platform which consumer
and commercial customers use to engage their clients and build their brand recognition on-line. Viddler offers the
only platform that allows in-line text or video commenting, which has been proven to increase the amount and
duration of a video’s viewership. Further develop the current version for business and serious videographers.
BFTP/NEP announces the following established manufacturer company investments.
Ashland Foundry and Machine Works, Ashland -- $32,850
College Partner: Northampton Community College’s Emerging Technology Applications Center
Assess Ashland’s current energy consumption to identify ways to reduce usage and energy inefficiencies, and
thereby decrease operating costs. Ashland manufactures pump components from high alloy castings.
Hitachi Metals, Lawrenceville -- $36,250
University Partner: The Pennsylvania State University
Develop a collagen-based core binder system that can displace the phenolic urethane and resin binders now used at
this ductile iron caster. This binder system will reduce emissions and energy consumption, allowing the foundry to
increase production and profits.
BFTP/NEP announces the following special initiative investment.
Pennsylvania College of Technology Thermoforming Center, Williamsport -- $10,000
College Partner: Pennsylvania College of Technology
Building on the success of two Plastics Centers of Excellence at the Pennsylvania College of Technology, develop a
Thermoforming Center of Excellence. The Center is developing relationship networks among companies and
academic institutions in the thermoforming industry, and assessing educational needs in industry.
Ben Franklin Technology Partners of Northeastern Pennsylvania
Laura S. Eppler
Director of Marketing