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Follow on Google News |  Ben Franklin to Invest $561,100 in Early-Stage Technology CompaniesBy: Ben Franklin Technology of NE PA 1. developing and growing early-stage technology-oriented companies, 2. helping established manufacturers creatively apply new technology and business practices to achieve industry leadership, and 3. promoting an innovative community-wide infrastructure that fosters a favorable business environment for high-growth companies. The Ben Franklin Technology Partners (http://www.benfranklin.org/) Ben Franklin announces the following early-stage company investments that are provided to clients in the form of loans. Cerora Inc. (http://www.cerora.com/ Ben Franklin Investment: $150,000 Develop and commercialize the company’s first product, Cerora Qumpass™, a cloud-based software as a service medical-grade, neurodiagnostic solution. The company’s MindReader™ is a portable electroencephalogram (EEG) brain wave biosensor that measures the electrical activity of the brain. It combines cutting-edge advancements in EEG design with cognitive and voice-based data streams, all integrated with software to provide real-time, objective neurodiagnostic information in the field. The rapid diagnosis of brain disease and injuries can lead to early and effective intervention with resulting cost savings, improved clinical outcomes, and increased patient satisfaction for people with concussions/ Map Decisions, LLC (http://www.mapdecisions.com/) Ben Franklin Investment: $100,000 Provide sales, marketing, product development, and customer service support. Map Decisions produces infrastructure asset and work management software and provides field mapping and data management services. The company’s secure, cloud-based mobile platform is designed for state and local governments, utilities, oil and gas, transportation, and construction industries. Map Decisions helps organizations increase operational efficiency, improve customer service, reduce compliance risks and decrease operational costs. Orbweaver Sourcing, LLC (http://orbweaver.com/) Ben Franklin Investment: $25,000 Complete development of a bill-of-material authoring tool as a module in a cloud-based software solution for electronic circuit board manufacturers. Current sourcing and procurement models in the electronics manufacturing industry are highly inefficient. Orbweaver’s software platform will allow for more well-negotiated terms with suppliers, thereby reducing costs and increasing productivity for clients. Pivitec, LLC (http://www.pivitec.com/) Ben Franklin Investment: $21,100 Continue commercialization and enhancement of hardware and software products for this developer of audio streaming and distribution products. Live performances in theaters and houses of worship require a variety of approaches to provide performers the ability to hear their own performances as well as cues. Wired systems currently in use require extensive cabling, limiting performers’ movements, and have limited audio source reception. Pivitec uses wireless mobile devices as interactive controllers for its network devices to address these problems. PROVA Systems and Technologies, Inc. (http://www.fleet- Ben Franklin Investment: $40,000 Support the commercialization of PROVA™ Systems’ Fleet Genius® PRO, a fleet management software system for small- and medium-sized enterprises. The software integrates PROVA's plug-and-play fleet management monitor that links with its cloud-based SAAS application to collect, monitor, and analyze the performance of vehicles and drivers. PROVA's system enables proactive management of vehicles using data derived from their usage patterns and collected from on-board computers. Fleet Genius PRO can reduce fleet operations costs by more than 60% versus current technology, and, in many instances, pays for itself in less than a year. Skaffl, LLC (http://skaffl.com/) Ben Franklin Investment: $25,000 Complete development of Skaffl, a new mobile application through which teachers and students can exchange class materials, assignments, completed homework, assessments, and grades. This digital application addresses the growing use of tablets in K-12 classrooms and the needs of teachers as they develop tools and curricula to enhance real-time educational interaction. There are no other applications that address these needs comprehensively while also being simple to use for students, teachers, and administrators. Susquehanna Mining Solutions, Shavertown Ben Franklin Investment: $150,000 Design, construct, and begin operation of a four-million- XiGo Nanotools (http://www.xigonanotools.com/) Ben Franklin Investment: $50,000 Complete software enhancements to allow expanded sales at this manufacturer of patented products that rapidly measure the wetted surface area of nanoparticles and droplets using magnetic resonance technology. Nano-particles are minute; they typically have diameters that are 1/1,000th the diameter of a human hair. Nanoparticle properties are key predictors of material performance in many industrial applications, including energy, electronics, ceramics, and pharmaceuticals, and currently there are no other efficient measurement methods. XiGo’s new Acorn Drop is a product extension of the company’s initial product, the Acorn Area™, and measures the drop size of emulsions. End
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