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Ben Franklin Technology Partners Invests $209,800 in Regional Development

By Colin McEvoy on November 8, 2021

Ben Franklin Technology Partners operates the Ben Franklin TechVentures business incubator in Bethlehem. It’s a key resource for life sciences research. (photo courtesy BFTP/NEP)

Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) has approved the investment of $209,800 in support of regional development, including $175,000 that will directly support early-stage startup companies in the Lehigh Valley.

Cliquify, Inc., a Macungie-based company that creates artificial intelligence-powered content marketing platforms, received $100,000 in funding from BFTP/NEP in the form of a loan with warrants.

The Easton-based Leranics, which creates a free Google Chrome Extension that allows students to capture and submit a record of their online learning experience as part of an assignment, received a $60,000 loan, according to BFTP/NEP.

Additionally, Precision Medical, Inc.,, a global pioneer in respiratory care focused on manufacturing medical devices, received a $15,000 loan to support an ongoing project between the company and Lehigh University’s Center for Supply Chain Research.

BFTP/NEP 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. 

Since beginning operations in 1983, BFTP/NEP has helped to create 19,740 new jobs for Pennsylvania workers and to retain 49,864 existing jobs, to start 531 new companies, and to develop 2,296 new products and processes.

Since 2007, BFTP/NEP clients have generated more than $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.

Cliquify will use its $100,000 funding to advance product development, marketing, and sales. The company’s branding that helps companies scale organic social recruitment through recruiters, hiring leaders, and employees.

Cliquify allows enterprises to connect with passive and active talent in creative ways where they engage – across social media channels. The results are increased engagement by 6x and reducing time and cost to recruit by 79%, according to BFTP/NEP. Data shows that the platform also helps to address diversity and equity gaps in recruitment.

Learnics will utilize its $60,000 funding to continue to develop and add functions to a web-browser plug-in that allows K-12 students to submit their browsing histories and time spent on assignments, and teachers to analyze the data to support them and improve teaching.

The tool will integrate into current learning platforms and will provide teachers with an individual and class wide analytics dashboard. Launch and commercialize the software to initial school users and begin to scale to additional customers.

Precision Medical, Inc. will use its $15,000 loan to iImplement an Enterprise Resource Planning system to improve the operational effectiveness at this manufacturer of proprietary medical respiratory equipment used in both hospital and homecare environments.

The enhancements will allow the company to manufacture and fulfill orders more efficiently for sustainable growth, according to BFTP/NEP.

Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based innovation in established manufacturers. The investments identified as a continuation project indicates that the client achieved pre-determined milestones and is receiving more funding to accomplish additional project work.

BFTP/NEP’s strategy encompasses developing and growing early-stage technology-oriented companies, supporting established manufacturers as they creatively apply new technology to help them succeed globally, and promoting an innovative community-wide infrastructure that supports Pennsylvania’s business technology ecosystem.

BFTP/NEP serves a 21-county service area in Pennsylvania, which includes Lehigh and Northampton counties.

November 2021 Issue of LVStartup Has Been Released

The November 2021 issue of LVstartup, a monthly e-newsletter about entrepreneurs and startups in the Lehigh Valley, has been released. Click here to see the new issue, [...]

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