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The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) creates and retains highly paid, sustainable jobs by investing in and linking northeast Pennsylvania companies with experts, universities, follow-on funding, and other resources to help them prosper through innovation.

BFTP/NEP accomplishes this by:

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, less expensively, and faster.

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

As hundreds of companies have experienced, Ben Franklin delivers hands-on support, connections to critical resources, and investment funds at companies’ most vulnerable times.

American Paper Bag, LLC (APB), Wilkes-Barre, was selected as a finalist from seven competitors in Ben Franklin Venture Idol, held on Nov. 6.

American Paper Bag (APB) is the first to manufacture and sell an innovative new style of paper shopping bag and paper mailer in North America.

Produced with proprietary machinery, APB’s products are highly customizable (sealing strips, die cutting, etc.), provide operational cost savings (fit more bags on each pallet/truck), and are more environmentally friendly (use less paper) than traditional paper bags.

BFTP/NEP helps clients to achieve and sustain market success and competitive advantage. We are evaluated on the basis of the job creation, job retention, and commercial successes of our clients that are achieved as a result of our assistance.

Capital — Ben Franklin takes calculated risks investing in young technology-based firms. We assist entrepreneurs as they prepare to raise additional capital and provide them with an important and well-respected initial endorsement.

We also support established manufacturers by providing investments to improve the client’s product or manufacturing process, employing innovation to their competitive advantage. The work is usually technology development or application-driven and is accomplished with a college or university partner.

Business and Technical Expertise — Each company in the Ben Franklin portfolio benefits from the collective experience of seasoned professionals who focus on turning high-potential ideas into high-growth businesses. In-house expertise is complemented by the Ben Franklin Solutions Network of advisors, professional service providers, investors, and college and university experts. Members of the Solutions Network number more than 700, creating a powerful and comprehensive support program for clients.

College and University Resources — We tap into the strength of Pennsylvania’s colleges and universities, whose faculty and students work directly with many of our clients. Ben Franklin

provides an essential link between client companies and the wealth of knowledge, equipment, facilities, and human resources in the Commonwealth’s higher education institutions.

Infrastructure — BFTP/NEP staff partner with economic development colleagues to create and develop a comprehensive support system for early-stage technology-based companies and established manufacturers throughout northeastern Pennsylvania. For example, we apply more than 35 years of business incubation expertise in leading the 13-member Ben Franklin Business Incubator Network, which is among the largest in the nation.

The Ben Franklin Business Incubator Network includes The Carbondale Technology Transfer Center, The Greater Hazleton CAN BE, The Innovation Center @ Wilkes-Barre, The Allan P. Kirby Enterprise Center at Wilkes University, The Scranton Enterprise Center, The Stourbridge Incubator, and The TekRidge Center. Business incubation provides significant support to early-stage firms as they launch, and greatly improves the companies’ probabilities of success.

Since beginning operations in 1983, BFTP/NEP has helped to create 18,536 new jobs for Pennsylvania workers and to retain 37,328 existing jobs, to start 520 new companies, and to develop 1,935 new products and processes. Since 2007, BFTP/NEP clients have generated nearly $1.6 billion in follow-on funding. The Pennsylvania Ben Franklin Technology Partners network has returned $3.90 to the state treasury for every $1.00 invested in the program.

BFTP/NEP is part of a four-center economic development initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority.

For additional information, contact Ken Okrepkie, Ben Franklin Technology Partners Regional Manager, Pocono Northeast, [email protected], 570-709-4040.

Ken Okrepkie, Ben Franklin Technology Partners of Northeastern Pennsylvania Regional Manager, Pocono Northeast.
https://www.timesleader.com/wp-content/uploads/2019/11/web1_IPS-BEN-FRANKLIN-PARTNERSHIPS.jpg.optimal.jpgKen Okrepkie, Ben Franklin Technology Partners of Northeastern Pennsylvania Regional Manager, Pocono Northeast.