FOR IMMEDIATE RELEASE: December 18, 2012
ERIE, PA – On December 11, 2012 the Board of Directors for Ben Franklin Technology Partners/CNP, approved investments totaling $473,569 in four tech-based companies located in central and northern Pennsylvania. The Center’s Board also approved the development of a Pre-Seed Fund that will be used to pay for outside due diligence, market acceptance/research, and product testing for prospective applicants and their projects.
For 30 years, Ben Franklin has been making investments in central and northern Pennsylvania’s entrepreneurs, tech-based start-ups, and small manufacturers with the goal of assisting them in developing new technologies, hiring additional employees, and increasing sales. For more information on the program, click on http://www.cnp.benfranklin.org
The companies that received funding from Ben Franklin are:
Conduit Technology, located in Girard, PA, developed patent-pending software that effectively automates the current paper-based process used to collect documentation submitted to insurance carriers for medical equipment used in the home. The software, which is a comprehensive, clinical documentation tool, collects all needed documents, reduces operating costs, manages critical workflow, and enables job-costing to determine profitability prior to accepting an order. For more information, www.lmnbuilder.com
Anderal Technologies in Hermitage, PA, received funding to further develop and commercialize a revolutionary patented technology used in the forming and shaping of metals. Electrically Assisted Manufacturing was invented and patented by Penn State University’s Dr. John Roth. The company is partnering with Penn State in this technology-transfer initiative. For more information, see www.anderaltechnologies.com
Located in State College, Chromatan is a biotechnology company established in 2008 that is commercializing a new and innovative technology called Countercurrent Tangential Chromatography or CTC. The company’s innovation will transform the current protein purification process, while providing significant cost savings, disposability, and scalability. For more information, see www.chromatan.com
Surge Business Development, also located in State College, addresses the concerns of college town retailers, first-time college parents and university student affairs. The Social Commerce Site (Rattle the Box) links consumers and retailers in socially relevant ways. It provides value to their university partners, the students, and parents of the students, and then leverages those relationships to facilitate additional financial transactions. Rattle the Box provides the student affairs professionals with a focused means to expose new students to experiential opportunities, in an effort to engage students in non-drinking activities.