More than 450 technology entrepreneurs, business people, venture capitalists, economic developers, political leaders and regional influencers from Ben Franklin’s 21-county service area attended the 2016 Ben Franklin iXchange, hosted by the Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP-NEP), May 17, Zoellner Arts Center, Lehigh University, Bethlehem.

R. Chadwick Paul, Jr. BFTP-NEP President and CEO, shared results of a study that the Ben Franklin Technology Partners statewide network has returned $3.60 in state tax revenue for every $1 invested in the program.

The northeastern center recently released new information on its regional impacts since 1983, including the creation or retention of more than 40,000 jobs since 1983 and the creation of 482 new companies.

“This year’s iXchange theme of ‘Bold Optimism’ is very appropriate to Ben Franklin’s work with early-stage firms,” said Paul. “Few endeavors require more optimism than starting a new company. It’s exciting and challenging, and also fraught with tribulations.”

BFTP-NEP launched one of the first business incubators in the United States in 1983 and relocated it in 2007 to Ben Franklin TechVentures, which received national acclaim, filled quickly and expanded in 2011.

Since 1983, Ben Franklin’s incubator has graduated 64 successful companies, grossing more than $1.2 billion in recurring annual revenue and creating more than 6,400 jobs. Forty-one firms, employing more than 170 people, are located in Ben Franklin TechVentures.

BFTP-NEP, applying the experience garnered over more than 30 years of business incubation and two National Business Incubator of the Year awards, leads a 10-member business incubator network in northeastern Pennsylvania, among the largest in the U.S.

Ben Franklin is seeking funding to expand TechVentures again. Paul announced an initiative to expand the Ben Franklin Business Incubator Network at the iXchange.

The iXchange combined the presentation of Ben Franklin’s 22nd annual Innovation Awards and executive networking sessions with a keynote by Byron Reese, a high-tech trailblazer, author, inventor and entrepreneur, who identified which sectors will be massively disrupted and how businesspeople can best build their companies in a world where things change so rapidly.

The 2016 Ben Franklin Technology Partners of Northeastern Pennsylvania Innovation Awards are:

Entrepreneurial Achievement: Rea.deeming Beauty, Inc., Bethlehem; Rea Ann Silva, Founder-CEO; Catherine Bailey, Chief Operating Officer

Incubator Graduate: Crew Systems Corporation, Carbondale Technology Transfer Center, Carbondale; Gary Piorkowski, President

Innovative Application of Technology: Custom Processing Services, Reading; Gregory J. Shemanski, President; Jeffrey A. Klinger, Vice President

Innovative Application of Technology: Hydro Recovery, LP, Blossburg; Chris Wunz, CEO; Sam Gorton, Senior Engineer

Manufacturing Achievement: Vigon International, Inc., East Stroudsburg; Stephen Somers, President

Partnership: Douglas R. Petillo, Managing Partner, Navigant Ventures, Glen Mill