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Follow on Google News | Ben Franklin to Invest $205,000 in Regional Economic DevelopmentBy: Ben Franklin Technology Partners 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. Since beginning operation, BFTP/NEP has helped to create 16,214 new jobs for Pennsylvania workers and to retain 22,155 existing jobs, to start 458 new companies, and to develop 1,279 new products and processes. The Pennsylvania Ben Franklin Technology Partners network (http://benfranklin.org/ BFTP/NEP owns and manages Ben Franklin TechVentures (http://nep.benfranklin.org/ Ben Franklin announces the following early-stage company investments that are provided to clients in the form of loans. EggZack (http://www.eggzack.com/) Ben Franklin Investment: $50,000 Expand EggZack’s sales effort by adding more resellers and increasing its direct sales force. EggZack provides an automated sales and marketing system that is specially designed for companies that serve local markets. The web- and mobile-based platform automates the management of their website, search engine optimization, social media, local search, email marketing, blogs, video, and directory optimization to generate more local leads. The system then makes it convenient for leads to convert into sales. OPTiMO Information Technology, LLC (http://www.optimo- Ben Franklin Investment: $65,000 Expand OPTiMO’ s Legal Technology Division. The company’s new eDiscovery and Forensics Managed Services electronically wade through huge amounts of data to reconstruct electronic events in order to provide reliable information and evidence for legal, corporate, and government agencies in a cost-effective manner. OPTiMO delivers enterprise-level information technology products and services including software related to the digital forensics, e-discovery, and litigation support industries. Orbweaver Sourcing, LLC (http://orbweaver.com/) Ben Franklin Investment: $65,000 Develop a “supplier pricing infrastructure” Ben Franklin announces the following established manufacturer company investment. Ben Franklin provides 1:1 matching funding for work with a college or university partner on technology-based manufacturing innovation in established manufacturers. East Coast Erosion Control, LLC (http://www.eastcoasterosion.com/ Ben Franklin Investment: $25,000 University Partner: Lehigh University’s Enterprise Systems Center Improve measures of back-end processes to improve customer delivery performance, reduce cost-of-goods sold, increase efficiency, and maximize production capacity at this manufacturer of erosion control products for the construction industry. East Coast Erosion is one of the largest producers of erosion blankets in the U.S. This upgrade will allow the company to be the first in its industry to advance to this level, providing a competitive advantage and facilitating continued growth. End
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