Ben Franklin Technology Partners’ clients generated more than $2 billion in revenue in 2021 and secured $917 million in post-Ben Franklin financing, according to a recent report.
According to the initiative’s 2021 Annual Statewide Impact Report, the Ben Franklin network supported 1,647 companies and helped clients create 2,438 jobs while retaining 12,923 additional positions. Clients developed 158 software copyrights and patents and launched 380 new products and processes.
“Year after year, even in the most difficult economic times, Ben Franklin continues to succeed, delivering impressive results with its investments,” Ryan E. Glenn, Ben Franklin’s director of statewide initiatives, said. “Investments in innovation are the foundation of the new economy.”
Founded nearly 40 years ago, Ben Franklin helps bring to market ideas that directly impact Pennsylvania’s economy by cultivating, attracting, and retaining in-demand talent; fostering the entrepreneurial ecosystem; driving investments; and supporting innovation in established manufacturers.
The initiative has four regionally based centers in Bethlehem, Philadelphia, Pittsburgh and State College and several satellite offices statewide. The centers connect clients with experts in accounting and finance, intellectual property protection, marketing, supply chain management, and other fields.
Every dollar the state invests into Ben Franklin generates $3.90 in additional state taxes, according to independent economic analysis.