TechVentures Lab Initiative receives $4.8M investment

Ben Franklin Technology Partners of Northeastern Pennsylvania, a Pennsylvania Department of Community and Economic Development initiative, recently announced it received $4.8 million in federal funding to support the Bethlehem-based TechVentures Lab Initiative.

TechVentures provides specialized space and hands-on business support to help technology startups launch and grow. The TechVentures Lab expansion project will expand the initiative’s 129,000-square-foot facility by converting more than 10,000 square feet of existing space into additional wet labs and/or electronics labs.

Expansion will increase available lab capacity by more than 50 percent and will support emerging areas where life sciences and microelectronics overlap such as advanced materials, medical imaging, photonics, and semiconductor design.

“This investment is a big step forward for Northeastern Pennsylvania’s innovation economy,” Angelo Valletta, Ben Franklin Northeast president and CEO, said. “It helps us refresh and modernize the infrastructure entrepreneurs rely on, retain high-potential companies as they scale here in Pennsylvania, and reimagine how we support founders working at the intersection of life sciences and microelectronics. When startups are ready to grow, access to specialized lab space can be the difference between delaying progress and accelerating commercialization. This project will support the high-paying jobs that keep talent in Pennsylvania.”

Funding was approved through the fiscal year 2026 federal appropriations process.