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Founded in 1983, Ben Franklin Technology Partners (BFTP) is a statewide initiative based in Pennsylvania that focuses on supporting early-stage technology firms and established manufacturers. BFTP collaborates with the Pennsylvania Department of Community and Economic Development, having invested in over 4,500 technology-based companies. This initiative has contributed to the creation of approximately 148,000 jobs and has boosted the state’s economy by more than $25 billion.
BFTP operates through four regional centers: Southeastern Pennsylvania, Northeastern Pennsylvania, Central and Northern Pennsylvania, and Southwestern Pennsylvania (Innovation Works). Each center tailors its support to meet the diverse economic development needs of different areas across the state. The organization’s mission is to drive innovation and entrepreneurial success by providing funding, business and technical expertise, and access to a network of resources.
Over the years, BFTP has evolved to include a private follow-on venture capital vehicle, the GO PA Fund, which targets growth-stage investments in its portfolio companies. This evolution reflects BFTP's commitment to fostering innovation and economic development through technology and manufacturing.
BFTP invests in a wide range of technology-based industries, including SaaS, healthcare, biotech, consumer products, fintech, robotics, industrial machinery, energy, climate technology, and proptech. The firm focuses on pre-seed, seed, seed+ (extension), and Series A stages, primarily within Pennsylvania. The investment strategy emphasizes job creation, retention, and innovation-led economic development.
The organization typically deploys check sizes ranging from $100,000 to $500,000, with a median check size around $200,000 to $250,000 for seed investments. The GO PA Fund, which is a growth vehicle, can write larger follow-on checks for Series B investments. BFTP looks for founders who demonstrate a strong commitment to their business and a clear vision for growth, as well as those who can leverage the extensive resources and expertise that BFTP provides.
Geographically, BFTP is strictly focused on Pennsylvania, requiring startups to be based in the state or have a significant presence there. This geographic constraint aligns with BFTP's mission to stimulate local economic development through technology and innovation.
BFTP has a diverse portfolio that includes over 1,700 technology-based companies. Notable companies in their portfolio include:
Throughout its history, BFTP has supported a wide array of companies across various sectors, contributing to significant job creation and economic impact in Pennsylvania. The organization’s portfolio reflects its commitment to fostering innovation in technology and manufacturing, with a focus on companies that drive economic growth and job creation.
Stephen Brawley - President & CEO (Central and Northern PA). Brawley has extensive experience in technology commercialization and economic development, leading initiatives that support early-stage companies.
Ven Raju - President & CEO (Southwestern PA). Raju has a strong background in venture capital and entrepreneurship, focusing on fostering innovation in the Pittsburgh region.
Scott D. Nissenbaum - President & CEO (Southeastern PA). Nissenbaum has a proven track record in supporting technology startups and driving economic growth in the Greater Philadelphia area.
Angelo J. Valletta - President & CEO (Northeastern PA). Valletta brings expertise in business development and technology investment, working to enhance the economic landscape of Northeastern Pennsylvania.
Ryan Glenn - Director of Statewide Initiatives. Glenn oversees statewide programs and initiatives, ensuring alignment with BFTP's mission to support technology-based economic development.
Valerie Carchidi - Manager of Statewide Marketing & Communications. Carchidi manages marketing efforts and communications strategies to promote BFTP's initiatives and successes.
To pitch to Ben Franklin Technology Partners, startups should use the contact form available at benfranklin.org/connect or email info@benfranklin.org. It is recommended to include a clear overview of the business model, market opportunity, and how the startup aligns with BFTP's investment focus.
Founders should expect a response within a few weeks, as BFTP reviews submissions carefully. Warm introductions are beneficial but not mandatory. A well-prepared pitch deck that outlines the startup's vision, team, and financial projections can significantly enhance the chances of securing an investment.
In 2024, BFTP deployed approximately $6.5 million across 28 companies, with a focus on both technology and healthcare sectors. This investment resulted in the creation of around 1,244 jobs and retained nearly 10,000 jobs across the state.
In March 2024, BFTP announced investments in notable companies such as Audigent and LoanStar Technologies, further expanding its portfolio in the technology sector.
Additionally, BFTP secured a $4.8 million federal investment to expand the capacity of the TechVentures® Lab, enhancing support for startups in the region. The organization also exhibited at PACK EXPO East 2026, showcasing its commitment to innovation and economic development.
What are the investment criteria for BFTP?
BFTP invests in early-stage technology firms and established manufacturers across various sectors, including SaaS, healthcare, biotech, and more. They focus on companies based in Pennsylvania or those committing to a significant presence in the state.
How can startups apply or pitch to BFTP?
Startups can apply by visiting the BFTP website and using the contact form available at benfranklin.org/connect. They can also reach out via email at info@benfranklin.org.
What makes BFTP different from traditional venture capital firms?
BFTP operates as a nonprofit initiative supported by the state, focusing on economic development rather than solely on financial returns. Their mission includes job creation and fostering innovation in Pennsylvania.
What is the typical check size for investments?
BFTP typically invests between $100,000 and $500,000 in seed-stage companies, with median investments around $200,000 to $250,000. The GO PA Fund can provide larger follow-on investments for growth-stage companies.
What kind of support do portfolio companies receive?
BFTP offers funding, business and technical expertise, and access to a wide network of resources to help portfolio companies grow and succeed in their respective markets.
What is the geographic scope of BFTP's investments?
BFTP exclusively invests in companies located in Pennsylvania or those that commit to establishing a significant presence in the state.
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