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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. 

Impact
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 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

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

BFTP Programs

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.

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Locations
Location

LOCATIONS

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CENTRAL & 
NORTHERN PA

Stephen Brawley

President & CEO

200 Innovation Blvd

Suite 150

State College, PA 16803

(814) 863-4558

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NORTHEASTERN PA

Angelo J. Valletta

President & CEO

Ben Franklin TechVentures

116 Research Drive

Bethlehem, PA 18015

(610) 758-5200

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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

Copyright © 2025 The Ben Franklin Technology Partners

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