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INNOVATION IS THE ANSWER. 

Ben Franklin Technology Partners 2022 Impact Report

Investments in innovation are the foundation of the new economy, and year after year, Ben Franklin Technology Partners continues to deliver impressive results. 

 

As one of the nation’s leading technology-based economic development programs, Ben Franklin Technology Partners creates and retains highly paid, sustainable jobs by investing in and linking early-stage technology firms and established manufacturers with experts, universities, follow-on funding, and other resources to help them prosper through innovation

 

Those investments pay huge dividends for Pennsylvania. 

 

According to the statewide initiative’s “2022 Annual Statewide Impact Report,” Ben Franklin clients generated $2.4 billion in revenue and secured $1.1 billion in post-Ben Franklin financing. The tech-based economic development program also supported 2,018 companies and helped clients create nearly 1,508 jobs while retaining 10,145 more positions.

 

Ben Franklin clients continue to drive Pennsylvania’s economy with innovation and entrepreneurial efforts, developing 130 patents and software copyrights, commercializing 249 new products and launching 90 new processes

Impact
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 2022 ECONOMIC IMPACT 

10,145

90

New internal processes implemented

1,508

Jobs created by client companies

124

New companies

formed

Jobs retained by client companies

130

Patents & software copyrights awarded to client companies

$2,365,324,195 

2,018

249

Companies assisted by BFTP

$1,109,916,199 

Sales revenue generated by client companies

New products commercialized

Post-BFTP financing secured by client companies

Success

REGIONAL SUCCESS STORIES

Launched 40 years ago, Ben Franklin has become one of the most widely known and emulated state technology-based economic development programs in the nation. And for good reason. 

 

In partnership with the Pennsylvania Department of Community and Economic Development, Ben Franklin provides critical funding, business and technical expertise, and access to a network of valuable resources that early-stage and established companies need to grow and succeed in the highly competitive worldwide marketplace. 

 

At Ben Franklin, clients are surrounded with internal and external experts in accounting and finance, marketing, intellectual property protection, supply chain management, and other disciplines. Developed and customized over four decades of experience, many clients cite these high-value support services as being key factors in their eventual success. 

 

This comprehensive and integrated approach to supporting companies is Ben Franklin’s “secret sauce,” with clients citing these support services as key factors in their success. 

 

Ben Franklin clients come from a variety of industries: computer software, hardware, and telecommunications firms; a variety of fabricated metal and industrial machinery manufacturers; and life science companies, including pharmaceutical manufacturers, biotech firms, instrumentation, robotics and medical device companies. 

 

Clients in these industries are innovative and technology-intensive, investing in research and development, intellectual property, capital equipment, and highly skilled labor. 

 

As a statewide initiative, serving all 67 counties through four regionally based centers in Pittsburgh, State College, Bethlehem, and Philadelphia, with several satellite offices spread across the state, Ben Franklin also leverages the excellence of Pennsylvania’s colleges and universities and promotes greater collaboration among companies, academia, private investors, and government to build and development technology-based industries. 

 

The numbers say it all. 

 

Since its inception, Ben Franklin has boosted the state economy by more than $30 billion, generating more than 58,000 jobs in client firms, plus an additional 101,000 spinoff positions, for a total of 159,000 new jobs that otherwise would never have existed. 

 

Every dollar invested by the commonwealth into Ben Franklin generates $4 in additional state taxes. 

 

Ben Franklin Technology Partners is making investments that have powered Pennsylvania’s economy for decades and will help the state maintain its competitive edge in an increasingly high-tech world. 

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Locations

LOCATIONS

Location
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CENTRAL & 
NORTHERN PA

Stephen Brawley

President & CEO

200 Innovation Blvd

Suite 150

State College, PA 16803

(814) 863-4558

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NORTHEASTERN PA

Angelo J. Valletta

President & CEO

Ben Franklin TechVentures

116 Research Drive

Bethlehem, PA 18015

(610) 758-5200

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SOUTHEASTERN PA

Scott Nissenbaum

President & CEO

Building 100 Innovation Ctr.

4801 S. Broad St, Suite 200

The Navy Yard

Philadelphia, PA 19112

(215) 972-6700

SOUTHWESTERN PA

Innovation Works

Ven Raju

President & CEO

Nova Tower 2

Two Allegheny Center, Suite 100

Pittsburgh, PA 15219

(412) 681-1520

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