Harrisburg, Pennsylvania – Department of Community and Economic Development (DCED) Secretary Dennis Davin and the Ben Franklin Technology Development Authority (BFTDA) today announced that a $ 14 million grant has been approved for Ben’s technology partners Franklin.
“Our long-standing relationship with the ‘Bens’, as we call them at DCED, has provided critical support and opportunities to businesses and communities across the Commonwealth,” said Sec. Davin. “The $ 14 million approved today will help them continue to fulfill their mission of making the investments necessary to ensure Pennsylvania remains the best place to live, work and do business.”
Each of Ben Franklin’s four partners will receive $ 3.5 million in funding. Partners provide access to capital, business expertise, technology commercialization services and a network of resources to advance the development of new technologies.
While partner activities vary widely depending on the needs of particular clients and market opportunities in their regions, the activities are categorized into four broad categories: business investments, business and technical assistance, technology / entrepreneurial infrastructure, and expenses. administrative.
Activities permitted under the Challenge Grant Program may include, but are not limited to, the following:
- Serve as a key regional partner of the Commonwealth to identify, develop, adapt and implement cutting-edge technologies to enable the growth and competitiveness of existing and emerging businesses through the development, commercialization and implementation of technology.
- Act as regional facilitators and managers for interactions, programs and initiatives by and among authority, technology companies, economic development organizations, the business community, academic / research institutions, government, unions and other interests working together to advance the development of a technology-based economy across the Commonwealth.
- Directly provide and mediate for seed and further development capital of existing and emerging businesses involved in the development and commercialization of technologically advanced products and processes.
- Develop, provide or support resources and business incubation spaces and facilitate the development of technology business campuses.
- Establish partnerships to support and enhance the scale, scope and impact of initiatives that support the purpose and mission of BFTDA and partners.
As one of the nation’s largest statewide technology development programs, the Ben Franklin Technology Development Authority was established to promote an entrepreneurial business environment, advance technological innovation, and build a workforce. ready for technology.
The mission of the Ben Franklin Technology Development Authority (BFTDA) is to encourage and coordinate programs and investments that advance the competitiveness of Pennsylvania businesses and universities in the global economy.
For more information on the Ministry of Community and Economic Development, visit the DCED website and be sure to stay up to date with all news from our agency on Facebook., Twitter, and LinkedIn.
CONTACT WITH THE MEDIA:
Casey Smith, [email protected]
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