INNOVATION IS OUR FOUNDATION.
Ben Franklin Technology Partners 2023 Impact Report

Competition for investments in innovation and technology is fierce.
As other states look at ways to grow their economy, build entrepreneurial ecosystems and create the jobs of tomorrow, Pennsylvania is way ahead of the game — and has been for a long time. For more than 40 years, Ben Franklin Technology Partners has been supporting innovation and technology companies from concept to startup to scale.
It’s a formula that works.
Even as the state looks to create new programs, Ben Franklin remains the most prized high-tech investment model because it demonstrates real results year after year, investing in emerging high-growth enterprises that help to power Pennsylvania’s economy and attract the best and brightest to our commonwealth.
According to the “2023 Annual Statewide Impact Report,” Ben Franklin clients generated $2.8 billion in revenue and secured $1.2 billion in post-Ben Franklin financing. The tech-based economic development program also supported 1,827 companies and helped clients create nearly 2,493 jobs while retaining 10,588 more positions.
Ben Franklin clients continue to foster innovation and entrepreneurial efforts, developing 189 patents and software copyrights, commercializing 257 new products and launching 103 new processes.

2023 ECONOMIC IMPACT
$2,766,932,992
$1,225,420,662
Sales revenue generated by client companies
Post-BFTP financing secured by client companies

1,827
Companies assisted by BFTP
2,493
Jobs created by client companies
10,588
Jobs retained by client companies
119
New companies
formed
189
Patents & software copyrights awarded to client companies
257
New products commercialized
103
New internal processes implemented
Ben Franklin serves all 67 counties through four regionally based centers in Pittsburgh, State College, Bethlehem, and Philadelphia, with several satellite offices spread across the entire commonwealth. The statewide initiative invests in and links early-stage tech firms and established manufacturers with experts, universities, follow-on funding, and other resources to help them prosper through innovation.
According to independent analyses, every dollar invested by the commonwealth into Ben Franklin generates $4 in additional state taxes.
Partnerships are important — and Ben Franklin leverages the excellence of Pennsylvania’s colleges and universities and brings together companies, academia, private investors, and government to build and develop technology-based industries. Ben Franklin is at the center of and intricately connected to the regional technology and innovation ecosystems across the state.
Ben Franklin works for ALL Pennsylvanians and continuously adapts its programs, networks and partnerships to expand its reach so that every resident in the commonwealth benefits. For more than 40 years, when Pennsylvania innovators and manufacturers have needed a little help to “get it done,” Ben Franklin has been there.
That’s why 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.
HISTORY OF SUCCESS
Since its inception more than 40 years ago, 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.
REGIONAL SUCCESS STORIES
BEN FRANKLIN-CREATED ORIGINAL PROGRAMS
Ben Franklin works for ALL Pennsylvanians and continuously adapts its programs, networks and partnerships to expand its reach so that every resident in the commonwealth benefits. Here is a sampling of some of the programs Ben Franklin created to help its clients and fuel Pennsylvania’s economy.
LOCATIONS

CENTRAL &
NORTHERN PA
Stephen Brawley
President & CEO
200 Innovation Blvd
Suite 150
State College, PA 16803
(814) 863-4558

NORTHEASTERN PA
Angelo J. Valletta
President & CEO
Ben Franklin TechVentures
116 Research Drive
Bethlehem, PA 18015
(610) 758-5200


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
2 Allegheny Center, Suite 100
Pittsburgh, PA 15212
(412) 681-1520