Ben Franklin invests $2M in 11 early-stage firms in Southeastern Pennsylvania
Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has backed 11 early-stage firms with a total of $2 million in funding, according to Philadelphia Business Journal.
The said companies are from the high-technology and life sciences sectors. These firms are involved in things such as medical products, treatment for spine degeneration-induced back pain, and a mobile app that helps people collect, organize, and redeem discount coupons, the report detailed.
So far, Ben Franklin's biggest investment was the $450,000 it gave X-Nav Technologies of Lansdale. The latter is a company that develops surgical navigation systems and other medical equipment used by dentists, the report stated.
BFTP/SEP is an organization that serves as a catalyst for entrepreneurial potential in Southeastern Pennsylvania. The group invests in companies involved in innovation and commercialization to generate revenue using science and technology. So far, the firm has shelled out over $130 million to support more than 1,600 enterprises in the region, according to BFTP/SEP's web profle.