Categorized As:Business Growth
Making an Impact: Ben Franklin Technology Partners
An affiliate of one of the most respected state-sponsored technology programs in the country, Ben Franklin Technology Partners of Southeastern Pennsylvania catalyzes commercialization by providing seed funding and business advisory services and by supporting targeted industry partnerships. Founded 30 years ago, BFTP-SEP has been a pioneer in using public funds to make successful seed capital investments in promising technology firms. Through these efforts, between 2001 and 2006, BFTP helped bring to market more than 500 new products or processes developed in Greater Philadelphia.
BFTP is currently working with state legislators to establish a program that would raise additional funds for investment in early-stage enterprises in the Commonwealth. Modeled after similar successful efforts in other states, the proposed Innovate Pennsylvania Program would authorize the Commonwealth to auction $175 million in deferred insurance premium tax credits and direct auction proceeds to the Ben Franklin Technology Development Authority (BFTDA) to support high-growth companies and job formation in Pennsylvania.