Ben Franklin Venture Investment Forum is sponsoring a seminar entitled “How Patent Reform Impacts Your Small Business” on Thursday, March 1, 2012, from 9:00 till 11:30 AM.  Our speaker is Shawn Leppo of McNees, Wallace and Nurick’s Intellectual Property and Patent group.  His practice includes all aspects of intellectual property law including litigation, licensing and patent prosecution. Shawn assists clients in asserting and defending charges of patent, trademark, and copyright infringement and in conducting due diligence analyses for licensing and acquisition of intellectual property.

Shawn will talk about what is changing with Patent reform and how it will impact small companies, both as it relates to in-house inventions as well as licensing academic research.  This common sense, plain English presentation will enable you to plan ahead to ensure your new technologies are protected.

To accommodate as many people as possible, we will offer this session in videoconference format at multiple locations:

• Harrisburg – Ben Franklin Office
• Reading – Penn State Berks, Thun Library
• State College – Ben Franklin Office
• Erie – Penn State Erie, Erie Hall

The cost for this practical and informative session is $30.00 per person.
 
Go to our ecommerce enabled page to register online. Or click here to download and print the registration.  When you complete your registration, please make note of the location you wish to attend.  There is limited seating at each videoconference location, so register today!

• Be located in the 32 counties served by the program (See http://www.cnp.benfranklin.org for a full listing of eligible counties)
• Have a new, marketable business idea that includes a commercialization plan
• Have no significant sales if a product has already been developed
• Have less than 50 employees if a company has been formed
• Not have received previous Ben Franklin funding. 

Preferred industry sectors include, but are not limited to, nanotechnology, green technologies, alternative energy, advanced manufacturing, advanced materials, medical devices, information technology and software.

Entrepreneurs can visit http://bigidea.benfranklin.org for a complete description of the rules, entry forms, and FAQs. The deadline for applications is February 29, 2012.

Jill Edwards, Executive Director of Ben Franklin’s Venture Investment Forum, commented, “We are very pleased to once again be able to co-sponsor the BIG IDEA Business Plan Contest.  Supporting entrepreneurs and helping them to develop their ideas into a viable business is at the very core of what the Ben Franklin Program has been about for nearly thirty years.” 

“In our eyes, the folks who participate in our contests are all winners in some capacity.  They have the courage to let a panel of strangers evaluate and criticize their idea – and this is often the first step in turning that idea into a business,” said Stephen Brawley/CEO of Ben Franklin Technology Partners/CNP.

October 25, 2010 — Harrisburg, PA — The Innovation Partnership today announced it has received notification that it is the recipient of a $100,000 Federal and State Technology (FAST) partnership program grant from the U.S. Small Business Administration (SBA).   The FAST Program is designed to stimulate economic development among small, high technology businesses through federally-funded innovation and research and development programs like the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR).

“The FAST program is an important catalyst for helping America’s cutting edge entrepreneurs continue to drive innovation and create good jobs,” said Karen G. Mills, SBA Administrator. “The partnerships developed through these programs will play a critical role in helping high-growth potential small firms take those next steps to help drive our local economies.”

Companies supported by the SBIR and STTR programs often generate some of the most important breakthroughs each year in the U.S. For example, about 25 percent of R&D Magazine’s Top 100 Innovations came from SBIR-funded small businesses.

The Innovation Partnership is comprised of 12 business assistance organizations situated across the Commonwealth that offer prospective SBIR/STTR applicants workshops and training seminars, preliminary proposal reviews, and small grants for proposal writing assistance and travel reimbursement.  Since its inception, the Innovation Partnership has assisted 338 distinct companies, 70 of which have won $18.2 M in federal SBIR/STTR awards.  Innovation Partnership clients, each of whom has an individual from among the partner organizations serving as client manager to help support them throughout  the Innovation Partnership and SBIR/STTR application process, have achieved a SBIR/STTR win rate that is 33% higher than the national average.  The Ben Franklin Technology Partners administer the program on behalf of the Innovation Partnership.

“SBIR and STTR grants represent an important source of capital for the commonwealth’s emerging technology companies and entrepreneurs,” said Austin Burke, Secretary of the Pennsylvania Department of Community and Economic Development.  “As a founding partner and ongoing financial supporter of the Innovation Partnership, we are thrilled that they received this award.  The Innovation Partnership’s unique collaboration of partners is a vital part of Pennsylvania continued success in an innovation economy.”  

The core service component of the Innovation Partnership is an on-line, expert feedback mechanism for small businesses proposing SBIR/STTR projects.  Applicants receive a no-cost technical evaluation of their SBIR/STTR proposal concept by independent professional reviewers.  For those applicants who demonstrate a strong fit between their project and a specific federal funding opportunity, as well the potential to effectively commercialize their research, the Innovation Partnership awards matching funds up to $3,000 (Micro-Grant/ Micro-Voucher) and up to $8,000 (Federal Marketing Assistance) to offset the cost of final proposal preparation.

 About Innovation Partnership

The Innovation Partnership is a consortium of Pennsylvania economic development organizations, university partners, and the Pennsylvania Department of Community and Economic Development (DCED).  It was created to assist Pennsylvania’s small, high-tech companies, researchers, and technology-focused entrepreneurs in securing federal grant dollars to develop and commercialize innovative technologies.  The participating organizations are: Ben Franklin Technology Partners (BFTP); Ben Franklin Venture Investment Forum (VIF); Bio Advance (The Life Sciences Greenhouse of SE PA); Hershey Center for Applied Research (HCAR); Life Sciences Greenhouse of Central PA (LSGPA); Pennsylvania Department of Community and Economic Development (DCED); Ben Franklin Technology Development Authority (BFTDA); Pennsylvania’s Industrial Resource Center (IRCs) Network; Pennsylvania’s Small Business Development Centers (PA SBDCs); Pennsylvania State University (PSU); Pennsylvania Technical Assistance Program (PennTAP); Pittsburgh Life Sciences Greenhouse (PLSG); University City Science Center (UCSC); University of Pittsburgh Office of Enterprise Development and the U.S. Small Business Administration. 

For more information on the Innovation Partnership, contact Kelly S. Wylam at (717) 948-4318 or kelly@benfranklin.org, or visit http://innovationpartnership.net/.

Cathy von Birgelen, the Director of the eMLC commented, “In this digital age, an emerging or growing company’s success depends on having the level of knowledge and skills required to market and sell products/services online. I’m pleased to be able to continue to offer this type of training under the Ben Franklin umbrella.”

The eMarketing Learning Center has a long history of partnering with groups and associations to teach best practices on implementing strategies that help generate leads, increase sales, and improve overall website traffic. Other entities that may have an interest in hosting a training session of this nature should contact Cathy at vonbirgelen@emarketinglearningcenter.org   Visit the eMLC’s Website to learn more about training topics that will soon be available.  

In the month of September, the following courses will be offered: 

Essential Guide to Business Building Using Online Channels
Date:  Friday, September 10, 2010
Time:  9:00 a.m. - 11:30 a.m.
Location: Edinboro University Meadville Campus, Meadville, PA 

Learn More - A simplified approach on how to develop a digital marketing strategy to promote and distribute your products and services online. This session will help you gain an understanding of the digital media and marketing channels, including websites, search engines, social media and mobile and how they are used to generate leads as well as convert/retain customers.

Integrating Social Media into Your Marketing Mix — For Nonprofit Partnership Members
Date:  Thursday, September 30, 2010
Time:  8:30 a.m. – 12:00 noon
Location: WQLN Learning Center, Erie, PA

Learn More – Nonprofits have started incorporating social media such as Facebook, LinkedIn, YouTube, and Blogs into their marketing mix.  This session will help users develop a sound strategy on how to initiate meaningful metrics for their social network outreach.  Whether you want to use video, text, audio or social networks, this session will get you started. 

For further information, contact:
Cathy von Birgelen / eMarketing Learning Center
814-898-6547
vonbirgelen@emarketinglearningcenter.org

State College, PA — The Pennsylvania Technical Assistance Program (PennTAP) and Ben Franklin Technology Partners of Central and Northern PA today announced the winner of their “New Energy Idea Contest.” The grand prize of $35,000 was awarded to Mr. Mark Leiby at a check presentation event held at Ben Franklin’s office located at 115 Technology Center in Innovation Park. Mr. Leiby, Lead Technologist of Aerokinetic Systems LLC, has developed a process for the vaporization of heavy hydrocarbons that can increase combustion efficiency by 20-25% while also reducing greenhouse emissions. The invention can be used to efficiently vaporize a number of hydrocarbon materials including JP8, diesel, and bio-diesel, among others.

The prize money for the contest was provided by Ben Franklin as well as PennTAP utilizing a donation made by the United States Department of Energy (DOE) and the Pennsylvania Department of Environmental Protection (DEP). Ben Franklin was proud to partner with the PennTAP program, since the technical assistance they provide their clients in energy-related initiatives makes a significant contribution in the state.

For further information, contact:

Liz Wilson
Ben Franklin Technology PArtners CNP
814-898-6541 lizwilson@psu.edu
or leibymw@comcast.net / 717-489-1533

July 27, 2010 — 10:30 A.M.

State College, PA — The Pennsylvania Technical Assistance Program (PennTAP) and Ben Franklin Technology Partners of Central and Northern PA  will announce the winner of their “New Energy Idea Contest” on July 27, 2010.  The grand prize of $35,000 will be awarded at a check presentation event to be held in the lobby area (east entrance) of 115 Technology Center in Innovation Park at 10:30 A.M.  The winner’s name will be made public at that time. 

Note:  Visitor parking is located in the back of the building near the CBICC entrance.  Please enter through this door and head down the hall toward the east lobby area.                                                                                      

The prize money for the contest has been provided by Ben Franklin as well as PennTAP, utilizing a donation made by the United States Department of Energy (DOE) and the Pennsylvania Department of Environmental Protection (DEP).  Ben Franklin was proud to partner with the PennTAP program since the technical assistance they provide their clients in energy-related initiatives makes a significant contribution in the state. 

Forty applications were received prior to the deadline of April 15, 2010.  A panel of six judges, all with extensive energy industry experience, chose the winning applicant from presentations made by semi-finalists on June 17, 2010, at the Penn Stater Hotel and Conference Center.  Jill Edwards, the Executive Director of the Ben Franklin Venture Investment Forum, commented on the judging, “All the applications were impressive and choosing just one winner was a difficult task for the panel.” 

To RSVP, please contact:

Liz Wilson, Ben Franklin Technology PArtners CNP
814-898-6541- lizwilson@psu.edu

Forty applications were received before the deadline of April 15, 2010. The grand prize of $35,000 will be awarded to either an entrepreneur or an early-stage, pre-revenue company in the process of developing a new energy or alternative energy-related product or process improvement. This includes (but is not limited to) improvements to existing technologies, new hardware or software products that improve efficiency, new battery or fuel cell applications, engine and turbine technologies and agriculture-based projects.

Prize money for the contest is being provided by BFTP/CNP as well as PennTAP, utilizing a donation made by the United States Department of Energy (DOE) and the Pennsylvania Department of Environmental Protection (DEP).

The seven finalists include:

Mark Leiby — Aerokinetic Systems
Herman Wefelmeyer — Biomass Converters
Michael Gates
Joshua Gehly — Green Lighting LED
Jennifer Stockton — MECONS Engineering
Tom Falcone — Nascent Services
Peter Funke — Solar Chemical Company

The winner will be selected on June 17, 2010.

The contest. which was sponsored by Ben Franklin Technology Partners of Central and Northern Pennsylvania, the Ben Franklin Venture Investment Forum, the York Keystone Innovation Zone, and the law firm of Buchanan Ingersoll and Rooney, attracted a record number of over 100 applicants.

Stephen Brawley, CEO of Ben Franklin Technology Partners/CNP, who presented the award said, “We had a tremendous response to this year’s competition, and we are proud of the outstanding work done by PSI Medical as well as the second place winner, Scribe Printing Technologies, Inc. We recognize the time and energy commitment both companies made in order to participate, and it is my pleasure to congratulate them both. In fact, all of the applicants deserve a round of applause and are free to contact us with questions regarding our investment opportunities.”

Click here for more information
on the investments made by Ben Franklin
Technology Partners/CNP in 2008/2009.

Developing solutions that make the care of intravenous catheters easier and safer

From their Meadville, Pennsylvania location, Dr. Colantonio and Dr. Jager have worked for the past two years on developing solutions that make the care of intravenous catheters easier and safer. According to Dr. Colantonio, “Over 250,000 intravenous catheter infections occur in patients each year in U.S. hospitals resulting in nearly 30,000 deaths. Our goal is to make intravenous catheter care safer for all patients, eliminating the infections and deaths associated with these catheters.” The company has been working toward final production of their novel devices in conjunction with Multi-Plastics Inc., a division of CORE Manufacturing based in Saegertown, Pennsylvania.

Steve Carpenter, a member of the judging panel and the Vice President of Venture Operations for the Life Sciences Greenhouse of Central Pennsylvania said, “I was impressed with all of the candidates for this year’s contest. But, PSI Medical was particularly outstanding because they articulated a compelling business plan that covered all of the critical areas for a start-up company: identifying a major problem to be addressed, providing a novel approach to solve it, recognizing other talent needed to be successful, and developing a viable financial plan to commercialize the technology.”

“PSI Medical’s products are innovative and they provide a practical way to reduce hospital-related infections,” said Dean Bunnell, also one of the judges for the competition and the CEO of Indigo Biosciences, LLC. “They are easy to use and the company already has a prototype ready to be commercialized. These factors really set them apart from the competition.”

Scribe Printing Technologies wins $10,000 second prize

A second place prize of $10,000 was awarded to Scribe Printing Technologies Inc. located in Cochranton, Pennsylvania. Robert Deets and his team developed a revolutionary high speed unit that prints variable, unique data on plastic parts. When used in the medical device market, the Scribe Printer creates the ability to serialize products such as syringes.

About PSI Medical, LLC

PSI Medical was founded in 2007. The company has developed innovative products to remove bacteria from the surface of intravenous catheters. Initially headquartered in Meadville, Pennsylvania, PSI Medical anticipates moving operations to the Erie Technology Incubator at Gannon University by the end of May 2009. The founders are confident this move will facilitate the company’s expansion and accelerate completion of its pre-market preparations. The relocation will also advance collaboration with the Plastics Technology Center at Penn State Erie—The Behrend College, a trusted and valuable resource for PSI Medical. For more information, contact PSI Medical Catheter Care at 130 West 8th Street, Erie, PA 16501, phone 814-459-6110 or e-mail at cathetercare@psipartners.com

About Scribe Printing Technologies, Inc.

Founded in 2008, Scribe Printing Technologies Inc. currently has two fully functional printers in use. The design enables the ability to print on plastic products using a digital process that is high-speed, non-contact, and full color with variable data. Robert Deets, a manufacturer of plastic components, partnered with Frank Pagano and Glenn Sahlin—experts in the development of custom software and the science of motion control—to offer the market this innovation in printing technology. For more information, contact bdeets@scribe.us.com or phone (814) 425-3943.

About Ben Franklin Technology Partners

Ben Franklin Technology Partners/CNP, an initiative of the Pennsylvania Department of Community and Economic Development, provides funding, operational assistance, and entrepreneurial support to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania. Contact the main office of Ben Franklin in University Park at (814) 863-4559, the Harrisburg office at (717) 948-6339 or see our website at www.cnp.benfranklin.org

About the Ben Franklin Venture Investment Forum

The Venture Investment Forum (VIF) provides essential management training for companies in the 32-county region served by Ben Franklin Technology Partners/CNP. VIF also creates opportunities for introductions between investors and promising early-stage companies.

HARRISBURG, PA — Government investment in early-stage technology companies and in innovation in established manufacturers in Pennsylvania from 2002 to 2006 injected billions into the state economy, returned $3.50 for each $1 spent and created thousands of new high-wage jobs, according to a new study released by the Pennsylvania Economy League.

The economic impact study shows that technology companies funded by the Ben Franklin Technology Partners (BFTP), a statewide economic development network, boosted the state economy (gross state product) by $9.3 billion from 2002-2006.

“The study shows that as federal and state policymakers look for proven ways to stimulate the economy, investments in new technology companies and industries should be a priority,” said Rebecca Bagley, deputy secretary of the Pennsylvania Department of Community and Economic Development (DCED).

Ben Franklin funding comes from the Ben Franklin Technology Development Authority under guidelines that target promising companies in technology-driven fields such as information technology, biotechnology, nanotechnology, electronics, communications, advanced manufacturing, advanced materials and alternative energy and green technology.

“We found that companies and communities across the Commonwealth have experienced real benefits from the assistance provided by Ben Franklin,” said Economy League of Greater Philadelphia executive director Steven T. Wray. “Ben Franklin companies have developed new products, established production capacity and contributed new jobs and income. They’ve also expanded the state’s tax base.”

“From 2002 though 2006, the Commonwealth received more than $517 million in additional state tax revenues as a direct result of Ben Franklin programs,” added Stephen P. Brawley, president and CEO of Ben Franklin’s regional Partner in University Park, Pa. “That represents a 3 ½ to 1 payback to the state on its $140 million investment during the same period.”

Other Key Findings:

• From 2002-2006 Ben Franklin generated an additional 10,165 “job-years*” in client firms, and as a result of the ripple effects of client investments, generated an additional 22,667 job-years in Pennsylvania beyond that. The result was that Ben Franklin produced a total of 32,832 job-years in the state that otherwise would not have existed. 

• Ben Franklin-supported companies are in industries that pay relatively high annual salaries and wages. The weighted-average annual salary for Ben Franklin industries is $54,509, or 33 percent higher than the average for all private nonfarm industries in Pennsylvania.

The Pennsylvania General Assembly created the Ben Franklin network in 1982 to grow technology companies and create new high-wage industries in the state. The 2008 study was the third impact evaluation of Ben Franklin programs, the first conducted by the Pennsylvania Economy League.

“This latest study confirmed the wisdom of continuing to invest public dollars in creating and nurturing technology enterprises and industries,” Brawley said. “The Economy League study shows that since 1989, Ben Franklin has boosted the state economy by more than $17 billion.”

During its 25-year tenure, Ben Franklin has invested in more than 3,000 companies. Many were at the earliest stages of development when they first sought assistance—when fundraising is most critical and hardest to obtain.

Ben Franklin has often been the first institutional investor for firms, providing seed capital for initial product development and commercialization efforts. The network follows a competitive process that carefully considers a firm’s potential for success and job creation before investing state funding. A Ben Franklin investment is a recognized and significant endorsement to an early-stage firm, earning it credibility and attention from follow-on investors.

Ben Franklin earned international and national recognition for its technology development effectiveness in 2008, including the 2008 Excellence In Economic Development Award from the International Economic Development Council (IEDC) in the category of Technology-Based Economic Development. The IEDC has more than 4,500 members across the US, Canada, Europe, Australia, New Zealand and other nations.

It also won the 2008 U.S. Department of Commerce Economic Development Administration (EDA) Economic Development Award for Technology-led Economic Development in recognition of its recent achievements and work over the past 25 years.

*Job-years are equivalent to the number of years of full-time work created by the program. For example, if a firm employed three more workers for five years as a direct result of the program, that is expressed as 15 additional job-years.

About Ben Franklin

Ben Franklin is among the most widely known and emulated state technology-based economic development programs, with a national and international reputation. Ben Franklin provides capital and expertise to startups, early-stage and established companies and promotes the development of a statewide climate and infrastructure favorable to technology-based companies. In so doing, Ben Franklin creates immediate economic gains while also building a foundation for continued economic growth in the future. Ben Franklin operates on a regional level through four Partners strategically located in Pittsburgh, University Park, the Lehigh Valley and Philadelphia. For more information, visit www.benfranklin.org.

About the Pennsylvania Economy League (PEL)

The Pennsylvania Economy League is an independent, nonpartisan, nonprofit, public policy research and development organization. Their mission is to provide critical information, perspective and support to the business, civic and governmental leadership of the communities and the state in their efforts to make Pennsylvania a better place to live, work and do business. The research for this study was conducted by PEL’s affiliate, the Economy League of Greater Philadelphia. For more information, call (215) 875-1000 or email info@economyleague.org.

To view the BFTP Executive Summary Impact Report, click on:  BFTP Executive Summary.   To view the full BFTP Impact Report, click on:  Full BFTP Impact Report.

Contact:

Ben Franklin Technology Partners   
Terry Singer, Director, Statewide Affairs  
(717) 234-1748     
tsinger@benfranklin.org    

“If you bomb the first time when making a pitch to potential investors, you may not get a second opportunity when you really have a good message to tell,” says Jill Edwards, director of the Ben Franklin Venture Investment Forum (VIF). “That’s why it’s so critically important to train young entrepreneurs in the art of presenting their ideas.”

That’s where Edwards and the VIF come in. The VIF prepares leaders of young companies in the art of talking with investors. “Many fast-growth companies are started by engineers and scientists who know their technology extraordinarily well, but don’t necessarily know how to make a business out of it,” Edwards says. “Entrepreneurs need help talking about the marketing and business opportunity side. After all, that’s what investors most want to know—is it going to make money?”

The VIF trains young entrepreneurs in public speaking skills that people don’t normally learn in school—how to distill your message into compelling talking points, how to use tools like PowerPoint and how to stand up and hide the fact that your legs are shaky,” Edwards says.

Playing an Important Role in Job and Wealth Creation

The VIF, which supported by Ben Franklin Technology Partners (BFTP), began in 1986 as an all-volunteer nonprofit economic development organization in the Harrisburg area.

“The VIF started as a venue for entrepreneurs to meet with investors,” says Edwards. “At the time, there was a recognized need among young companies for equity investment, but there really wasn’t any mechanism in this area to connect potential, particularly angel, investors with companies who were looking for funding.”

By the end of the 1990s, numerous community angel groups had formed all over the place, so the “meet-and-greet” aspect of VIF’s mission became redundant. But there was still clearly a need for preparing companies in the art of the investment pitch, getting them ready to talk to investors.

Overcoming “Volunteer Fatigue”

At the same time, VIF was experiencing volunteer fatigue. In 2001, BFTP of Central and Northern PA decided to provide some funding to the VIF to enable it to hire staff and continue its work of training the leaders of young companies to make pitches to investors.

“So instead of a bimonthly breakfast meeting where investors and entrepreneurs came together, we morphed into a training organization,” says Edwards. “We’ve orchestrated a number of venture capital fairs, both on a smaller and larger basis, over the past several years. And because of the substantial funding we’ve received from BFTP since 2001, we have been able to grow and expand our service offering throughout the 32 counties served by the Central and Northern office.”

Edwards says that the money BFTP provides to early-stage technology companies certainly helps, but it’s the management advice, networking opportunities and introductions to advisors, customers and suppliers that is so important. “Without this value-add, many companies would never get off the ground,” she says. “So both BFTP and the VIF have an interest in making sure early-stage technology companies survive and grow. These companies play a critically important part in job and wealth creation, and we need them.”