Ben Franklin Technology approves $651,000 in business investments
The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) Board of Directors has approved the investment of $651,600 in support of regional economic development.
The following are projects based in the Lehigh Valley Press circulation area.
Ben Franklin announces the following early-stage company investments that are provided to clients in the form of loans:
EggZack, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County. Ben Franklin Investment: $88,000: Enable EggZack to build local audiences of consumers for its small business customers by automating and optimizing their social media. EggZack provides an automated sales and marketing system designed for companies that serve local markets. The web- and mobile-based platform systematizes the management of clients’ websites, search engine optimization, social media, local search, email marketing, blogs, video, and directory optimization to generate more local leads. The system then makes it convenient for leads to be converted into sales.
Orbweaver Sourcing, LLC, Ben Franklin TechVentures, Bethlehem, Northampton County. Ben Franklin Investment: $100,000: Complete the addition of direct purchase order automation into Orbweaver’s proprietary cloud-based software platform for electronic circuit board manufacturers. Orbweaver allows for more well-negotiated terms with suppliers, thereby reducing costs and increasing productivity for clients.
PayrollCRM, LLC, Bethlehem, Northampton County. Ben Franklin Investment: $50,000:. Expand marketing and technical development of PayrollCRM, a sales automation platform for the payroll and HR services industry. PayrollCRM helps payroll-HR firms to sell faster and to onboard new clients more efficiently. PayrollCRM ‘s customer management and CPQ (configure, price, quote) tools streamline processes such as pricing, quoting, data collection, forms and signatures.
US Specialty Formulations, LLC, Ben Franklin TechVentures, Bethlehem, Northampton County. Ben Franklin Investment: $100,000: Support needed increase in production capacity by hiring a production technician and quality compliance professional. USSF manufactures sterile injectable pharmaceuticals used by health care providers. As an FDA-registered outsourced manufacturer, USSF employs advanced quality and manufacturing controls to provide cGMP-manufactured drugs for patients worldwide.
viihealth, Inc., Ben Franklin TechVentures, Bethlehem, Northampton County. Ben Franklin Investment: $120,000: Provide marketing support and produce software enhancements for a cloud-based platform that allows pharmaceutical companies and healthcare providers to seamlessly implement turnkey, tailored patient engagement support initiatives at a lower cost and with faster turnaround. An increased emphasis on outcomes-based health care will encourage health care providers to help patients adhere to their drug regimens through this mobile-enabled platform.
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.
Bosch Rexroth Corp., Bethlehem, Northampton County. University Partner: Lehigh University’s Enterprise Systems Center. Ben Franklin Investment: $25,000: Develop and implement a process to automate data collection that will drive process improvements and enable predictive maintenance for machining centers throughout the company. Bosch Rexroth manufactures motion control equipment, including hydraulic and pneumatic components.
Prizer-Painter Stove Works, Inc., Reading, Berks County. University Partner: Lehigh University’s Enterprise Systems Center. Ben Franklin Investment: $25,000: Improve factory flow and efficiencies at a new building purchased by Prizer-Painter Stove Works to accommodate rapid increases in demand. Prizer-Painter Stove Works manufactures high-end cooking equipment under brands like BlueStar, Prizer Hoods and Big Chill.
Simplex Homes, Inc., Scranton, Lackawanna County. University Partner: Lehigh University’s Enterprise Systems Center. Ben Franklin Investment: $25,000: Complete the implementation of AutoCAD 3D and map, analyze, and further automate and improve production processes to increase throughput. Simplex is a regional leader in high-quality modular home construction and is positioning itself as an industry-leading builder of energy efficient homes. The company built a prototype Net Zero house that is both environmentally friendly and economically prudent for homeowners.