Ben Franklin Technology Partners 2024 Impact Report
When it comes to investments in innovation and technology in Pa., Ben Franklin is the tip of the spear.
Ben Franklin’s story is Pennsylvania’s story.
Since its inception more than 40 years ago, Ben Franklin Technology Partners 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 never would have existed without the statewide network’s investments.
Ben Franklin was there when the state needed a bridge between its struggling heavy manufacturing economy and the technology-based economy that would carry it forward. Even now, more than four decades later, when it comes to investments in innovation and technology, Ben Franklin remains the tip of the spear.
In 2024, Ben Franklin clients generated $3.5 billion in revenue and secured nearly $1.1 billion in post-Ben Franklin financing, supporting 1,630 companies and helping clients create nearly 1,244 jobs while retaining 9,959 more positions. Portfolio clients developed 197 patents and software copyrights, commercialized 250 new products and launched 87 new processes. Ninety-nine new companies formed.
And that’s just one year – but the results are similar throughout the network’s history.
With Ben Franklin as its partner, Pennsylvania has always been ahead of the curve, identifying emerging technologies, fostering innovation, nurturing high-growth enterprises to scale, and building entrepreneurial ecosystems that sustain economic growth. That’s because Ben Franklin constantly evolves to meet the day.
When the innovation landscape changes, Ben Franklin is at the forefront, adopting new approaches to attract and grow businesses, bringing online new programs that support clients, or aligning our operations to match the needs of high-tech and innovative startups and entrepreneurs with the most growth potential. What once was nanotechnology or computer science, for example, today is robotics, artificial intelligence and personalized medicine. No matter what’s next, Ben Franklin will be there, leading the way.
1,630
Companies Supported
1,244
Jobs Created
9,959
Positions Retained
99
New Companies Formed
197
Patents & Software Copyrights
250
Products Commercialized
87
Processes Launched
Investments in Innovation
The more we invest in innovation, the better the outcomes. According to independent analyses, every dollar invested by the commonwealth into Ben Franklin generates $4 in additional state taxes. The formula works.
Even more opportunities exist – but only if Pennsylvania keeps investing in innovation.
As Pennsylvania’s flagship innovation program, Ben Franklin Technology Partners for decades has been at the forefront of building and sustaining a robust ecosystem, helping our commonwealth dominate high-growth markets and create the jobs of tomorrow.
The numbers speak for themselves.
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 state.
INNOVATION WORKS
"Being part of the IW cohort has been a pivotal moment for our company. The team has provided us with incredible resources that we have put to use and make the most of. We have gained knowledge and experience that are invaluable for our journey. Our confidence as a startup founder has grown exponentially and we owe a big part of it to the exposure IW has provided us with!"
Carolina Espinosa, Co-Founder & CMO, iTruckr
BEN FRANKLIN NEP
“Spoke Sciences might never have launched without the incredible support it received from Ben Franklin Technology Partners of Northeastern Pennsylvania. Although Spoke is headquartered in Washington State, it is proud to house its talented and growing scientific team in Bethlehem, at the beautiful Ben Franklin facility overlooking the Lehigh Valley. Our labs there provide a supportive and welcoming space for our scientists. Nothing like this exists in Washington. Ben Franklin is smart to nurture its growing, local businesses and support the creation of high paying jobs for skilled knowledge workers. Ben would be proud!"
Gregory F, Wesner, J.D., CEO/Founder, Spoke Sciences, Inc.
BEN FRANKLING CNP
“It has been a very good experience overall. I think one of the areas where we received the most value from Ben Franklin was just, I would say, looking ahead, helping us to identify gaps that maybe we didn't even know that existed today and then implementing things in our business that would help us just prepare for the future and be a better, well-rounded business.”
Mark Small, CEO, Poseidon Strength
BEN FRANKLIN SEP
“We’re beyond grateful for the funding Ben Franklin Technology Partners of Southeastern Pennsylvania provided and for the support they gave to help us take autonomous ground vehicles to the next level. Their investment really helped us move faster, build smarter, and scale up everything from carrying to towing to patrolling to mowing. Big thanks to the Ben Franklin team for believing in what we’re building.”
Mark Gaudiosi, CFO, Burro
Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development (DCED) and funded by the Ben Franklin Technology Development Authority (BFTDA).
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