Ben Franklin Technology Partners of Northeastern Pennsylvania’s (Ben Franklin Northeast) board of directors recently approved a $1.1 million investment in 11 companies.
The investment will support regional economic development. The companies are five established manufacturers and six technology startups.
The established manufacturers must provide matching funding and work with a college or university partner.
Investments ranged from $10,000 to $400,000.
The largest investments include Spoke Sciences in Northampton County, which will receive $400,000 to increase research, development, and commercialization efforts. The company develops technologies to deliver insoluble lipidic ingredients in water-based formulations.
LifeAire Systems in Lehigh County will receive $340,000 to support new product and technology development, increase inventory, and improve the supply chain. The company manufactures air purification equipment used in hospitals, long-term care, and life science markets, as well as in vitro fertilization.
Slick Leagues in Lackawanna County will receive $100,000 to support marketing and sales efforts to fully commercialize their application. The company developed a software solution for sports facilities, club teams, and leagues that automates administrative tasks, simplifies business operations, and presents analytical insights.
Venseca in Lehigh County will receive $100,000 to support product development and market execution. The company provides a cybersecurity platform that creates trust between service providers and organizations.