The fund fills the gap between great ideas and the resources needed to bring them to life.
Ben Franklin Technology Partners of Central and Northern Pennsylvania (Ben Franklin CNP) and Erie Insurance have announced the launch of the $500,000 Erie Revitalization Investment Fund (ERIF), a new initiative designed to drive innovation, support local entrepreneurs and foster economic growth across Erie County.
Ben Franklin CNP and Erie Insurance have each provided $250,000 to create an evergreen investment fund that will support early-stage and growth-stage technology companies and small manufacturers in Erie County that is likely to result in job creation and retention. Both capital and wraparound support services will be provided to help companies grow and remain rooted in Erie County.
“Erie Insurance is proud to provide local businesses with another potential funding source as they work to grow and scale right here in our hometown,” said Christy Blashock, corporate sustainability & community development officer for Erie Insurance. “The Erie Revitalization Investment Fund is about investing in people, ideas, and a shared future.”
“Ben Franklin and Erie Insurance are full of team members that have vision,” explains Brian Slawin, Regional Director & Portfolio Manager for Ben Franklin CNP who lives in Erie and serves as a transformational business mentor. “We understand the hurdles entrepreneurs face when it comes to raising funds. Together, Ben Franklin and the ERIF make it possible for founders to focus on building, hiring and creating impact, with guidance that meet them where they are.”
Ben Franklin CNP will manage the fund, leveraging its proven track record in startup investment and entrepreneurial support. The organization will also provide companies with access to its statewide Transformation Team, which offers free mentorship in market strategy, operations, financial planning, and growth management.
“We’re honored that Erie Insurance is helping us launch a fund that reflects our shared commitment to job creation, innovation, and opportunity,” said Stephen Brawley, president & CEO of Ben Franklin CNP. “By focusing on Erie County-based companies we’re building a more resilient and sustainable economy that will impact the entire state for the better.”
Press Event on Tuesday, 9/30 at 10am at the Knowledge Center (5240 Knowledge Parkway) in Knowledge Park
Key Features of the Erie Revitalization Investment Fund (ERIF):
- Local Focus: All investments will be directed to companies with a primary place of business in Erie County, PA.
- Target Sectors: Focused on small manufacturers with fewer than 500 employees and early-stage tech companies that are likely to create new family/ and life sustaining job opportunities and growing wealth within the county.
- Technical Assistance: Full business development support from Ben Franklin’s Transformation Team.
For company owners and small businesses that are ready to take the next steps toward this funding opportunity, the application process is just as supportive as the ERIF mission. Go to Ben Franklin CNP’s website and visit the dedicated ERIF page.
The ERIF builds on Erie County’s proud manufacturing legacy while positioning the region as a leader in future-forward innovation. This initiative serves as a model for how corporate leadership and public-purpose investment can come together to unlock regional potential.
About Ben Franklin Technology Partners of Central & Northern PA:
Ben Franklin CNP is a statewide initiative funded by the Pennsylvania Department of Community and Economic Development through the Ben Franklin Technology Development Authority. For over 40 years, Ben Franklin CNP has fueled innovation-driven economic growth across 32 counties in Central and Northern Pennsylvania. As the go-to resource in Central and Northern PA for startup funding and business support services. Our mission is to foster a community-wide infrastructure that propels Pennsylvania’s business technology economy forward—ultimately creating high-paying, sustainable jobs in our local communities.
About Erie Insurance:
According to A.M. Best Company, Erie Insurance Group, based in Erie, Pennsylvania, is the 11th largest homeowner’s insurer, 12th largest automobile insurer and 10th largest commercial lines insurer in the United States based on direct premiums written. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16th largest property/casualty insurer in the United States based on total lines net premium written. Rated A (Excellent) by A.M. Best, ERIE has more than 7 million policies in force and operates in 12 states and the District of Columbia. News releases and more information are available on ERIE’s website.