The Ben Franklin Technology Partners of Northeastern Pennsylvania’s (BFTP/NEP) board of directors has approved the investment of $220,000 in support of regional economic development. BFTP/NEP announces the following early-stage company investments that are provided in the form of loans with warrants. Some of the recipients are in the local community, includ:

* Skillion, LLC, Ben Franklin TechVentures, Bethlehem, Northampton County

Ben Franklin Investment: $40,000:

Complete development of Skillion’s mobile app for remotely monitoring and controlling an electronic bike (e-bike) to prevent theft and/or manage e-bike rentals. Both the American and European e-bike markets are expected to grow significantly over the next five years, particularly in urban centers, creating the need for technology to support the sector.

* Material Solution Services, Northampton, Northampton County

Ben Franklin Investment: $25,000

University Partner: Lehigh University’s Enterprise Systems Center:

Complete the formulation of new composite materials that can be used for general fill in land development, construction material, and mine reclamation. The composites will recycle various waste products in conjunction with a binding agent to reclaim abandoned sites for safe and productive reuse.

BFTP/NEP’s strategy encompasses three key areas:

1. developing and growing early-stage technology-oriented companies;

2. supporting established manufacturers as they creatively apply new technology to help them succeed globally by producing better, cheaper, and faster;

3. promoting an innovative community-wide infrastructure that supports Pennsylvania’s business technology ecosystem.

BFTP/NEP owns, manages, and is headquartered in Ben Franklin TechVentures®, an award-winning business incubator/post-incubator facility on Lehigh University’s campus in Bethlehem.

Contributed article