Ben Franklin invests $395,600 in economic development
The Ben Franklin Technology Partners of Northeastern Pennsylvania's Board of Directors has approved the investment of $395,600 in support of regional economic development.
Ben Franklin announces the following early-stage company investments that are provided to clients in the form of loans. The following are in the circulation area of the Lehigh Valley Press:
MindBridge Innovations, LLC, Allentown. Ben Franklin investment: $35,000. Finalize a new sales strategy, revise financial models, and complete software development for the Coach AL interface between the at-home patient and physicians and therapists for the company's OrthoBike therapy system. This rehabilitative tool for physical therapists provides range-of-motion, strength, and gait rehabilitation to patients after total hip and knee replacement and other lower extremity surgeries.
Orbweaver Sourcing, LLC, Ben Franklin TechVentures, Bethlehem. Ben Franklin investment: $30,000. Complete development of a real-time supplier pricing infrastructure as a module in a cloud-based software solution for electronic circuit board manufacturers. Sourcing and procurement models in the electronics manufacturing industry are highly inefficient. Orbweaver's software platform will allow for more well-negotiated terms with suppliers, thereby reducing costs and increasing productivity for clients.
TSG Software, Ben Franklin TechVentures, Bethlehem. Ben Franklin Investment: $25,000. Implement processes to significantly increase marketing and sales lead generation in commercializing software for business cleaning services, property and facility managers, and building management contractors. TSG's Accelerator CC brings traditionally manual processes into cloud software with mobile solutions to automate mission-critical processes, eliminating workflow disruption.
Ben Franklin announces the following established manufacturer company investments. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers. The following are in the circulation area of the Lehigh Valley Press:
Jesse James & Co., Inc., Bethlehem. University Partner: Lehigh University's Enterprise Systems Center. Ben Franklin Investment: $25,000. Reduce manufacturing and fulfillment costs and improve speed, productivity, and quality at this designer and manufacturer of bead and button embellishments for craft stores, mega-stores and online distribution.
Lutron Electronics Company, Inc., Coopersburg. University Partner: Lehigh University's Enterprise Systems Center. Ben Franklin Investment: $25,000. Complete design and implementation of an improved, streamlined service scheduling system for this leading supplier of light control products for individual and corporate customers.