Startups
Philadelphia / Roundups

Friday Tech Links: Glowing report on Ben Franklin Tech Partners called out plus more

In which we link out to the tech news from Philly and elsewhere (when it matters) that slips through the cracks and make it way fun. See others here. The state budget deadline came and, like every other year of Gov. Ed Rendell’s tenure, it went by without a completed plan. This year, though, the […]

In which we link out to the tech news from Philly and elsewhere (when it matters) that slips through the cracks and make it way fun. See others here.
The state budget deadline came and, like every other year of Gov. Ed Rendell’s tenure, it went by without a completed plan.
This year, though, the fight has something to do with the state collecting $3.5 billion less in taxes than it anticipated. So everyone’s feeling the pinch. Even, it seemed, Ben Franklin Technology Partners, the state-funded, startup investment company that we reported could see a $10 million, 60 percent budget cut or more — and then others did too.
But the Inquirer’s Joe DiStefano thoughroghly researched the report, suggesting that the report BFTP pointed to in its defense was less than square — a report from the Pennsylvania Economy League that showed BFTP bringing in $3.50 for every $1 invested in it.
“That’s not real,” DiStefano wrote. “The authors [of the report] estimated, and extrapolated, and multipliered, using what the Economy League’s Rich Stein told me were “quasi-experimental” techniques.
According to his article, the state put $50.7 million into BFTP this year, a total Rendell wants to cut to $35 million the coming fiscal year. The original Senate Republican budget put it nearer to $20 million.
Little question remains whether BFTP has done good, but much debate, DiStefano clearly shows, can be had on if it’s done enough to avoid one of the largest state budget tightenings in recent memory.
After the jump, Michael Nutter is not on Twitter, a biomedical firm brings jobs to Philly and six other tech and innovation links you need in your life right now, including our most read story of the week.
Ordered by an incredibly complex algorithm rendering importance:

Every Friday morning we make sure you didn’t miss anything with Friday Tech Links.

Companies: Ben Franklin Technology Partners

Before you go...

Please consider supporting Technical.ly to keep our independent journalism strong. Unlike most business-focused media outlets, we don’t have a paywall. Instead, we count on your personal and organizational support.

3 ways to support our work:
  • Contribute to the Journalism Fund. Charitable giving ensures our information remains free and accessible for residents to discover workforce programs and entrepreneurship pathways. This includes philanthropic grants and individual tax-deductible donations from readers like you.
  • Use our Preferred Partners. Our directory of vetted providers offers high-quality recommendations for services our readers need, and each referral supports our journalism.
  • Use our services. If you need entrepreneurs and tech leaders to buy your services, are seeking technologists to hire or want more professionals to know about your ecosystem, Technical.ly has the biggest and most engaged audience in the mid-Atlantic. We help companies tell their stories and answer big questions to meet and serve our community.
The journalism fund Preferred partners Our services
Engagement

Join our growing Slack community

Join 5,000 tech professionals and entrepreneurs in our community Slack today!

Trending

Cal Ripken Jr. essay: The MLB legend explains his drive to build STEM centers in schools across the nation

Calling all parents with too much toy clutter: This Philly startup can help

The end of software as technology

How to build better innovation ecosystems: 10 key takeaways from the 2024 Technical.ly Builders Conference

Technically Media