Four Startups Receive Investment from Ben Franklin Technology Partners/CNP
STATE COLLEGE, PA – For more than 30 years, Ben Franklin Technology Partners has been investing in central and northern Pennsylvania’s entrepreneurs, tech-based start-ups, and small manufacturers. The Center’s goal is to support the development of innovative technologies, which when commercialized, create new companies and more job opportunities in the commonwealth. Ben Franklin funding is typically used for prototype development, testing of new products, hiring of additional employees, and to help grow company sales. For more information on the program, click on http://www.cnp.benfranklin.org
Investments in four startups located in the 32 county footprint served by the Program, were approved at the recent March Board meeting:
Located in DuBois, PA, RAK Computer Associates is developing a real estate property tax collection application. Many of the currently existing products available only work in select Pennsylvania counties, do not have the functionality to address all tax collector’s needs, and don’t provide auditing or real-time tax compliance tools. RAK offers its customers a comprehensive, fool-proof tool that also has an online payment option. For more information see www.rakcomputer.com
Lewis Designs, located in Waterford, PA, received funding to further develop and test an innovative brake design in response to new government legislation requiring heavy duty truck manufacturers and suppliers to meet increased safety, stability, control, and fuel efficiency standards. The company’s patented system offers an alternative to air disc designs that have been the standard since the days of Henry Ford.
Direct Allergy LLC, located in Erie, PA, developed a turnkey medical service to be provided by primary care physicians, that offers comprehensive testing and treatment for allergic diseases. Allergies are the fifth most prevalent of chronic diseases, yet today there are fewer than 6,000 board certified allergists practicing in the United States. Enabling the family doctor to treat and resolve common allergies, frees up the specialists to handle more life-threatening cases. For more information see www.directallergy.com
Sustainable Composites LLC, located in Lancaster, PA, offers environmentally friendly materials produced using recycled leather. The company uses a proprietary technology to extract fibers from leather waste and re-engineers them to produce a sustainable composite. Their product, which is available on rolls, looks, feels, and smells like regular leather, but is much less expensive. The end product, Enspire, is suitable for a wide range of leather applications such as furniture, shoes, accessories, etc. For more information see www.sustainablecomp.com
About Ben Franklin Technology Partners
Ben Franklin Technology Partners/CNP, an initiative of the Pennsylvania Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority, provides investment capital and operational assistance to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania. Contact the central office of Ben Franklin in Innovation Park at (814) 863-4558 or see the website at www.cnp.benfranklin.org
