Ben Franklin Technology Center Of Southeastern Pennsylvania

BEN FRANKLIN STIMULATES ECONOMIC GROWTH AND INNOVATION IN THE REGION (SEE SCH O FOR CONTINUATION) THROUGH INITIATIVES AND PARTNERSHIPS THAT ACCELERATE THE DEVELOPMENT OF NEW TECHNOLOGIES AND THEIR COMMERCIALIZATION PRIMARILY THROUGH INVESTMENTS IN AND SUPPORT OF TECHNOLOGY-BASED ENTERPRISES.

CAPITAL INVESTMENT, BUSINESS, AND TECHNICAL ASSISTANCE: BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA IS A PUBLIC/PRIVATE PARTNERSHIP WHOSE MISSION IS TO DRIVE ECONOMIC GROWTH AND JOB CREATION THROUGH TECHNOLOGY, INNOVATION, AND ENTREPRENEURSHIP. WE ARE PARTNERS WITH A PURPOSE.SINCE 1982, BEN FRANKLIN HAS SEEDED AND SUPPORTED ENTREPRENEURS AND INNOVATORS AS THE INVESTOR OF FIRST RESORT FOR GROWING TECHNOLOGY ENTERPRISES; PROVIDING THE CAPITAL, BUSINESS, AND TECHNICAL EXPERTISE TO HELP THEM ACHIEVE THEIR VISIONS. BEN FRANKLIN PROVIDES EARLY-STAGE COMPANIES CUSTOMIZED, (CONTINUED ON SCHEDULE O, PAGE 42)ONE-ON-ONE REAL-WORLD KNOWLEDGE IN PRODUCT DEVELOPMENT AND COMMERCIALIZATION, MARKETING, FUNDRAISING, ACCOUNTING, OPERATIONS, HUMAN RESOURCES, AND MORE, GIVING ACCESS TO ITS WIDE RANGE OF MENTORING, BUSINESS, AND TECHNOLOGY DEVELOPMENT SERVICES AND ITS EVER-EXPANDING NETWORK OF ADVISORS AND PARTNERS. THE $2,244,099 OF EXPENSES IN THIS CATEGORY REPRESENT BUSINESS AND TECHNICAL ASSISTANCE PROVIDED TO THOSE EXISTING AND OTHER REGIONAL TECHNOLOGY-BASED COMPANIES WHO ARE PROSPECTIVE CLIENTS. SERVICES PROVIDED INCLUDE MENTORING, NETWORKING, TECHNICAL ASSISTANCE AND A FULL RANGE OF ENTREPRENEURIAL SUPPORT AND DIRECT ASSISTANCE DESIGNED TO HELP COMPANIES REACH TARGETED MILESTONES AND ACCELERATE THEIR PATH TO COMMERCIAL SUCCESS.SINCE 1982, BEN FRANKLIN HAS SUPPORTED MORE THAN 2,000 COMPANIES TO DELIVER AN IMPACT OF MORE THAN $5 BILLION AND 32,000 JOBS IN THE PHILADELPHIA REGION. IN ADDITION, OUR CLIENTS HAVE RAISED MORE THAN $ 3.5 BILLION IN FOLLOW ON FUNDING SINCE 2001. OUR CURRENT PORTFOLIO SPANS 200 REGIONAL ENTERPRISES. WE HAVE INVESTED CAPITAL OR OTHER RESOURCES IN MANY REGIONAL SEED FUNDS, ANGEL GROUPS AND ACCELERATORS. SOME OF THESE INITIATIVES INCLUDE EMERALD STAGE 2 VENTURES, RITTENHOUSE VENTURES, SEVENTY-SIX CAPITAL, BIOADVANCE VENTURES, DREAMIT VENTURES, MINORITY ANGEL INVESTOR NETWORK, AND MID-ATLANTIC ANGEL GROUP I & II. BEN FRANKLIN ALSO MAINTAINS A ROBUST PARTNERSHIP WITH THE AREA IN WHICH UNIVERSITIES ARE LEVERAGING OVER $500 MILLION IN FUNDING TO THE REGION.

TECHNOLOGY & ENTREPRENEURIAL INFRASTRUCTURE:BEN FRANKLIN'S MISSION IS TO IMPROVE THE REGION'S ECONOMY THROUGH THE DEVELOPMENT AND SUPPORT OF INFRASTRUCTURE FOR INNOVATION, INCLUDES WORK TO IDENTIFY SEED AND GROW REGIONAL RESOURCES THAT CATALYZE AND DEVELOP REGIONAL TECHNOLOGY ASSETS THAT CAN BECOME PLATFORMS FOR NEW ENTERPRISE GROWTH AND PROVIDE OPPORTUNITIES TO RETAIN AND ATTRACT TALENT. BEN FRANKLIN LEADS AND PARTNERS IN THE FORMATION OF UNIVERSITY-INDUSTRY COMMERCIALIZATION MODELS; IDENTIFIES AND SUPPORTS COMMERCIALIZATION ACCELERATION ENGAGEMENTS BETWEEN TECHNOLOGY DEVELOPMENT RESOURCES AND EMERGING ENTERPRISES; PROVIDES SUPPORT AND/OR MANAGES REGIONAL INCUBATORS AND ACCELERATORS; (CONTINUED ON SCHEDULE O, PAGE 42)ENDORSES THE PUBLICATION OF CAPITAL AND TECHNOLOGY REPORTS; ENGAGES IN EFFORTS TO STIMULATE COMPANY FORMATION AMONG WOMEN AND MINORITIES; IS ACTIVE IN THE REGION'S IMPACT INVESTMENT COMMUNITY; AND PARTNERS TO CREATE AN ENVIRONMENT OF INFORMATION EXCHANGE AND INTERACTION VIA SEMINARS AND EVENTS. THE $2,458,735 OF EXPENSES IN THIS CATEGORY IS RESOURCED FROM FEDERAL, STATE, AND FOUNDATION GRANTS.FORMED BY BEN FRANKLIN AND EPAM, A LEADING GLOBAL PRODUCT DEVELOPMENT AND DIGITAL PLATFORM ENGINEERING SERVICES COMPANY, THE GLOBAL OPPORTUNITY PHILADELPHIA FUND (GO PHILLY FUND) FACILITATES INVESTOR PARTICIPATION IN THE BURGEONING OPPORTUNITY WITHIN GREATER PHILADELPHIA'S TECHNOLOGY-BASED VENTURES. GO PHILLY FUND PROVIDES CAPITAL FOR EARLY-STAGE TECHNOLOGY COMPANIES PRIMARILY IN THE GREATER PHILADELPHIA REGION (WHICH INCLUDES THE CITY OF PHILADELPHIA, BUCKS, CHESTER, DELAWARE, AND MONTGOMERY COUNTIES). THE FUND INVESTS SIDE BY SIDE WITH BEN FRANKLIN IN EARLY-STAGE COMPANIES THAT PASS BEN FRANKLIN'S COMPREHENSIVE DUE DILIGENCE PROCESS, SUPPORTING THE GROWTH OF ENTERPRISES THAT BUILD THE COMMUNITY OF INNOVATION IN GREATER PHILADELPHIA. BEN FRANKLIN SUPPORTS PLAIN SIGHT CAPITAL, AN EMERGING FUND BECOMING A FUTURE FEEDER AND/OR CO-INVESTOR WITH BEN FRANKLIN. THE FUND, DEVELOPED FROM THE 1PHILADELPHIA FRAMEWORK FOR CREATING AN EQUITABLE TECH SPACE IN PHILADELPHIA, HAS SECURED A $1,000,000 COMMITMENT FROM BEN FRANKLIN. BEN FRANKLIN'S COMMITMENT HAS ENABLED PLAIN SIGHT TO PURSUE INVESTMENT IN HIGH-POTENTIAL, EARLY-STAGE ENTERPRISES LED BY UNDERREPRESENTED FOUNDERS, TO GROW DIVERSE AND INCLUSIVE ENTREPRENEURSHIP IN THE PHILADELPHIA REGION.JUDEE VON SELDENECK, FOUNDER AND CHAIR OF DIVERSIFIED SEARCH GROUP CREATED THE JVS PHILADELPHIA FUND FOR WOMEN, A MULTI-MILLION-DOLLAR PARTNERSHIP WITH BEN FRANKLIN DESIGNED TO PROVIDE CAPITAL AND TO COACH WOMEN-OWNED ENTERPRISES WITH STRONG GROWTH POTENTIAL IN GREATER PHILADELPHIA. WITHIN FIVE MONTHS OF LAUNCHING THEIR PARTNERSHIP, THEY MADE THREE GRANTS AND NINE INVESTMENTS IN TECHNOLOGY-BASED VENTURES LED BY WOMEN IN THE PHILADELPHIA REGION, TOTALING $650,000 IN INVESTMENT.BEN FRANKLIN REMAINS A LEADING PARTNER IN IMPACTPHL, WHICH WAS FORMED TO JUMPSTART THE STRATEGY FOR GROWING PHILADELPHIA'S IMPACT ECONOMY. IMPACTPHL IS AN ALLIANCE OF ORGANIZATIONS AND INSTITUTIONS THAT BRING TOGETHER DOLLARS, TIME, AND LEADERSHIP TO ADVANCE GREATER PHILADELPHIA'S IMPACT ECONOMY ECOSYSTEM. IMPACTPHL WORKS TO ESTABLISH A WELCOMING FRONT DOOR FOR THOSE SEEKING TO PARTICIPATE IN THE REGIONAL IMPACT ECONOMY. BEN FRANKLIN PARTNERED WITH THE CITY OF PHILADELPHIA'S DEPARTMENT OF COMMERCE AND PIDC AS THE INVESTMENT FUND MANAGER FOR STARTUPPHL SEED FUND II. FULLY DEPLOYED, THE FUND TARGETED INVESTMENTS AVERAGING $150,000 - $200,000 IN SEED AND EARLY-STAGE TECHNOLOGY COMPANIES IN PHILADELPHIA. BEN FRANKLIN FULLY ALLOCATED STARTUPPHL TO 54 COMPANIES, 59% OF WHICH WERE LED BY BIPOC FOUNDERS.THE DIGITAL HEALTH SEED FUNDING INITIATIVE IS A PARTNERSHIP BETWEEN BEN FRANKLIN AND INDEPENDENCE HEALTH GROUP TO FUEL PHILADELPHIA'S INNOVATIVE DIGITAL HEALTH ECOSYSTEM AND GROW TECHNOLOGY-DRIVEN, EARLY-STAGE HEALTHCARE STARTUPS. THE INITIATIVE WAS BORN AS A RESPONSE TO A BURGEONING ECONOMIC VITALITY IN DIGITAL HEALTH EACH INTEND TO PLEDGE $2 MILLION OVER FOUR YEARS TO LAUNCH THE FUNDING INITIATIVE AND WILL IDENTIFY, VET, AND ALLOCATE FUNDS TO AUGMENT THE PHILADELPHIA REGION'S CONTINUED GROWTH AND DEVELOPMENT IN DIGITAL HEALTH. STARTUP COMPANIES RECEIVE FUNDS BASED UPON THE QUALITY OF THEIR BUSINESS MODEL, THE TECHNOLOGY'S VIABILITY, AND THE STRENGTH OF THEIR MANAGEMENT TEAM. BEN FRANKLIN PARTICIPATED IN THE DVN BETA PROGRAM OF DRAPER VENTURE NETWORK, A SELF-GOVERNED ORGANIZATION OF GLOBAL INDEPENDENT VENTURE FUNDS. THE NETWORK LINKS SEED-STAGE FUNDS WITH DVN'S MORE EXTENSIVE NETWORK OF 17 INDEPENDENT VENTURE FUNDS AND MORE THAN 500 PORTFOLIO COMPANIES WORLDWIDE. THE PROGRAM BRINGS TOGETHER EXPERIENCED INVESTORS AND INNOVATIVE ENTREPRENEURS FROM ACROSS SECTORS AND CONTINENTS TO SHARE STRATEGIES, SOURCE OPPORTUNITIES, AND CREATE GREATER VALUE. MENTOR CONNECT, A PROGRAM PROVIDING FOUNDERS AND LEADERS OF EMERGING COMPANIES WITH COACHING, CONNECTIONS, AND TOOLS TO SUCCESSFULLY GROW THEIR BUSINESSES, BRINGS THE EXPERIENCE OF A CURATED TEAM OF LEADERS AND EXPERTS TO THE ENTREPRENEURS MOST READY TO GROW, ASSISTING IN THE DEVELOPMENT OF THEIR BUSINESS SKILLS. AS GUIDED BY THE PRINCIPLES AND STANDARDS OF MIT VENTURE MENTORING SERVICE, MENTORS DELIVER IMPARTIAL AND UNBIASED ADVICE BY A CODE OF ETHICS TO WHICH ALL MUST ADHERE. ENTREPRENEURS FROM THE PHILADELPHIA ALLIANCE FOR CAPITAL AND TECHNOLOGIES (PACT) AND BEN FRANKLIN NETWORKS RECEIVE PRACTICAL HANDS-ON ADVICE FROM TEAMS OF THREE TO FIVE MENTORS, TAILORED TO EACH VENTURE'S NEEDS. THE MENTORS VOLUNTEER THEIR WEALTH OF ENTREPRENEURIAL INSIGHTS FROM A BROAD RANGE OF INDUSTRY AND MARKET-TESTED EXPERIENCE. WITH SIGNIFICANT COMMITMENT TO GROWING THE DIVERSITY OF THE PROGRAM PARTICIPANTS, 27% OF THE NEW FOUNDERS WELCOMED INTO THE MENTOR CONNECT PROGRAM WERE WOMEN AND 31% BIPOC IN 2022. VC4BC IS A PARTNERSHIP BETWEEN THE BUCKS COUNTY RETIREMENT BOARD AND BEN FRANKLIN. WITH A $4 MILLION COMMITMENT FROM THE RETIREMENT BOARD, VC4BC INVESTS $8 MILLION IN EMERGING ADVANCED TECHNOLOGY COMPANIES LOCATED IN, OR WILLING TO LOCATE TO, BUCKS COUNTY. ALL VC4BC INVESTMENT OPPORTUNITIES IN THE IT, HEALTH, DIGITAL HEALTH, AND PHYSICAL SCIENCES TECHNOLOGY SECTORS ARE EVALUATED THROUGH BEN FRANKLIN'S TECHNOLOGY SECTOR-SPECIFIC REVIEW PROCESS.VENTURE CHESCO INVESTS $4 MILLION IN EMERGING AND GROWING COMPANIES LOCATED IN, COMMITTED TO LOCATING IN, OR WITH SIGNIFICANT BUSINESS PRESENCE IN CHESTER COUNTY. BEN FRANKLIN AND CHESTER COUNTY HAVE EACH COMMITTED $2 MILLION IN FUNDS THAT ARE USED TO INVEST IN NEW TECHNOLOGY COMPANIES AND EXISTING COMPANIES LOOKING TO APPLY NEW TECHNOLOGIES TO THEIR BUSINESS OPERATIONS. SUPPORTING CHESTER'S VISTA 2025 INITIATIVE, VENTURE CHESCO FILLS A CRITICAL EARLY-STAGE FUNDING GAP IN THE GROWTH CYCLE OF CHESTER COUNTY'S YOUNG COMPANIES AND COMPANIES LOOKING TO APPLY TECHNOLOGY TO IMPROVE BUSINESS PERFORMANCE.BEN FRANKLIN PARTNERED WITH THE MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AUTHORITY (MCIDA), AN INDEPENDENT ECONOMIC DEVELOPMENT AUTHORITY, ON MONTCO MADE INVESTMENT INITIATIVE, A PARTNERSHIP COMMITTING $2 MILLION IN INVESTMENT TO EMERGING AND GROWING COMPANIES LOCATED IN MONTGOMERY COUNTY. BEN FRANKLIN AND MCIDA ARE EACH COMMITTING $1M TO INVEST IN NEW TECHNOLOGY COMPANIES AND EXISTING COMPANIES LOOKING TO APPLY NEW TECHNOLOGIES TO THEIR BUSINESSES LOCATED IN MONTGOMERY COUNTY.