Ben Franklin to Invest $335,000 in Early-Stage Companies.LEHIGH VALLEY The Lehigh Valley or the Allentown-Bethlehem-Easton, PA-NJ metropolitan area is a metropolitan region in eastern Pennsylvania and western New Jersey, in the United States. It is the third-most populated metropolitan region in Pennsylvania, after Philadelphia and Pittsburgh. , Pa. -- The Ben Franklin Technology Partners of Northeastern Pennsylvania This mountainous area of Pennsylvania includes the Pocono Mountains, the Endless Mountains and former anthracite coal mining cities and towns, including Carbondale, Scranton, Pittston, Wilkes-Barre, Nanticoke and Hazleton. U.S. Presidents Harry Truman and George W. (BFTP/NEP) board approved investments of $335,000 in three Pennsylvania companies. BFTP/NEP is a state-funded economic development organization that links early-stage companies and established manufacturers with experts, universities, funding, and other resources to help them prosper through innovation. BFTP/NEP plans to invest in the following companies: Advanced-Tec Materials Corporation, Hazleton Investment: $35,000 Provide strategic direction to this manufacturer of specialized industrial materials derived from coal-combustion by-products. Products incorporating these formulations include thermal insulation and fireproofing fireproofing, method of making normally combustible materials as nearly noncombustible as possible. Fireproofing generally applies to textiles and construction materials that are treated with a solution or coating of some substance that will tend to retard their , environmentally-friendly "green" construction materials, shoe insoles, and various consumables in the automotive and cosmetic markets. Advanced-Tec will further develop its comprehensive business plan and its intellectual property strategy, and conduct material testing requisite for UL and other certifications. Element ID, Inc., Bethlehem Investment: $150,000 Test a new Radio Frequency Identification See RFID. (RFID (Radio Frequency IDentification) A data collection technology that uses electronic tags for storing data. The tag, also known as an "electronic label," "transponder" or "code plate," is made up of an RFID chip attached to an antenna. ) reader prototype at several trial sites, and begin commercializing with a full-scale sales launch. Element ID's readers utilize proprietary software that provides superior read rates and eliminates interference problems associated with other readers on the market. These RFID tag readers will be sold to material-handling companies worldwide. Third Eye Diagnostics, Inc., Bethlehem Investment: $150,000 Conduct prototype development and clinical studies leading to the commercialization of a medical device for non-invasively monitoring intracranial pressure intracranial pressure n. Abbr. ICP Pressure within the cranial cavity. intracranial pressure (in´tr . Intracranial pressure monitoring is a common tool for physicians treating patients with a severe head injury, intracranial hemorrhage intracranial hemorrhage n. The escape of blood within the cranium due to the loss of integrity of vascular channels and frequently leading to formation of a hematoma. , or swelling due to a stroke. This non-invasive technique substantially lowers patient risk and associated costs. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion