Ben Franklin Invests $150,000 in Lehigh Valley Companies
By Colin McEvoy on July 21, 2022
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP_NEPA) have announced the investment of $150,000 for Lehigh Valley companies in support of the regional economy.
BFTP_NEPA approved a $100,000 loan with warrant for the Bethlehem-based Terra Health Coaching, as well as $25,000 in matching funding each for BRD Noise and Vibration Control, Inc., of Wind Gap, and the Whitehall Township-based Dynalene Inc.
“The quality of the companies and projects in this funding round demonstrates the resilience of Ben Franklin clients in recovering from major economic disruptions,” said BFTP_NEPA President & CEO Angelo J. Valletta. “Innovation is a key tool in creating and retaining good jobs and addressing societal challenges.”
These investments were part of an overall total of $252,000 in financial support announced by the BFTP_NEPA Board of Directors this month for companies throughout the organization’s 21-county service area in Pennsylvania.
The $100,000 for Terra Health Coaching will support the completion of the build-out of the company’s mobile app. The funds will also allow the company to release a desktop version that meets HIPAA compliance standards, and support marketing to Direct Primary Care clinics.
Terra Health Coaching is a solution for employers, physicians, and individuals who want to minimize the risk of chronic disease and its associated costs while optimizing health and environmental impact. The platform provides specialist support and helps clients improve their physical and mental health with Lifestyle Medicine.
It allows users to learn, track their habits, and communicate with their healthcare team seamlessly, improving adherence and success. Support-Driven Digital Health and Lifestyle Medicine are becoming more permanent components of the healthcare system.
The $100,000 for Terra Health Coaching is a continuation project, meaning the company achieved pre-determined milestones necessary before receiving more funding from BFTP_NEPA to accomplish additional project work.
BFTP_NEPA also provided 1:1 matching funding with BRD Noise and Vibration Control and Dynalene for work with a college or university partner on technology-based innovation in established manufacturers. The projects from both of these companies are also continuation projects.
BRD Noise and Vibration Control will use the $25,000 to help develop and implement project management tools, templates, and metrics to improve productivity and efficiency, and enhance customer service and on-time delivery, according to BFTP_NEPA.
The company specializes in HVAC acoustic design and manufacturing to help architects; mechanical, electrical, and plumbing professionals; acoustical consultants; and design/build contractors in the specification of cost-effective approaches to keep mechanical equipment quiet.
BRD Noise and Vibration Control also troubleshoots and implements remediation treatments for sound problems in existing construction, according to BFTP_NEPA.
Dynalene develops, manufactures, and distributes innovative industrial heat transfer fluids and related accessories.
The company will use its $25,000 in funds to improve manufacturing processes in the production of de-ionizing filter cartridges, which are used in fuel cells in automobiles. It will also increase efficiencies, improve production yield, and continuously monitor quality to establish itself as a high-volume supplier to automobile manufacturers.
BFTP_NEPA creates and retains highly paid, sustainable jobs by investing in and linking companies with experts, universities, follow-on funding, and other resources to help them prosper through innovation.
The organization’s strategies encompasses three key areas: developing and growing early-stage technology-oriented companies, supporting established manufacturers as they creatively apply new technology to help them compete globally, and promoting an innovative community-wide infrastructure that supports Pennsylvania’s business technology ecosystem.
Since beginning operations in 1983, BFTP_NEPA has helped to create 20,688 new jobs for Pennsylvania workers and to retain 56,268 existing jobs, to start 535 new companies, and to develop 2,456 new products and processes.
Since 2007, BFTP_NEPA clients have generated more than $1.7 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.
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