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Ben Franklin Tech Partners of Northeastern PA announce $454k investment

We can’t help but give a shout out to our neighbors in the North. Ben Franklin Technology Partners of Northeastern Pennsylvania have announced plans to invest $454,000 in 11 companies in its region. That’s after Philly’s local Technology Partners announced a $2 million investment in 11 companies in the Philadelphia region last week. Nearly a […]

large_benfranklintechventures0313We can’t help but give a shout out to our neighbors in the North. Ben Franklin Technology Partners of Northeastern Pennsylvania have announced plans to invest $454,000 in 11 companies in its region. That’s after Philly’s local Technology Partners announced a $2 million investment in 11 companies in the Philadelphia region last week. Nearly a third of the northeastern investment – $150,000 – went to Element ID, a Bethlehem-based company working on commercializing a competitive radio frequency identification (RFID) tag for use in materials handling. Recruiting company Pinpoint Strategies, of Bloomsburg received $50,000 for its use of software, video, and animation tools to recruit hard-to-find health care professionals. And lest favoritism effect the journalistic process, we can’t help but mention Wine Gadgets, an Allentown based company that markets products that preserve wine once a bottle has been opened. The company received $24,900. It would seem that the state-funded early-stage entrepreneurship incubator is thriving as the U.S. economy continues to struggle. Last week, Lehigh Valley Live reported that the Northeast organization is planning to add 47,000 square feet to its building on Lehigh University’s campus in 2010. That’s enough room for 40 companies, nearly doubling its current digs that house 24 companies. “Because of the recession, this is necessary,” Ben Franklin spokeswoman Laura Eppler told the publication. A full list of companies and respective investments follows.

    1. Element ID, Inc., Bethlehem  $150,000

Element will begin commercializing a competitive radio frequency identification (RFID) tag reader for use in the materials handling environment.

    1. Pinpoint Strategies, LLC, Bloomsburg  $50,000

Pinpoint is a recruiting company that uses sophisticated software, video, and animation tools to recruit hard-to-find physicians and health care professionals.

    1. Wine Gadgets LLC, Allentown  $24,900

Wine Gadgets will market systems for preserving wines once a wine bottle is opened, keeping wine fresh for more than two weeks.

    1. Xbio Systems, Inc., Bethlehem  $50,000

Xbio’s platform is a Web-based service that supports the drug and medical device development process.

    1. Appeeling Fruit, Inc., Reading  $14,000

Appeeling Fruit will use the money to the jump-start production of packaged fruit products at Appeeling’s new facility.

    1. Custom Processing Services, Inc., Reading  $25,000

CPS is creating a heat and power system for a plant that will utilize non-polluting waste products as fuel.

    1. Eckman Building Components, Lehighton  $12,615

Eckman will optimize the manufacturing process for a green product that utilizes less wood fiber and recycled steel which outperforms traditional I-Joists and can reduce building labor costs by up to 15 percent.

    1. R.M. Palmer Company, Reading  $17,500

R.M Palmer is optimizes packaging lines to reduce product cost and increase manufacturing efficiency.

    1. Springs Window Fashions, Montgomery  $50,000

Springs will reduce manufacturing costs and increase output of its window blind product line.

    1. Greater Susquehanna Keystone Innovation Zone, Columbia, Montour, Union, and Snyder counties  $40,000

This KIZ will provide tax credits and technology transfer grants to early-stage companies that locate in designated areas that are near colleges and universities.

    1. Williamsport/Lycoming Keystone Innovation Zone, Lycoming County  $20,000

This KIZ will also provide tax credits and tech grants to early-stages companies near higher education facilities. [Hat tip to philabustr]

Companies: Ben Franklin Technology Partners

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