|
|
FOR IMMEDIATE RELEASE |
|
State
Rep. Scott Conklin |
  
|
Conklin announces local Ben Franklin investments
STATE COLLEGE, Aug. 5 – Centre County state Rep. Scott Conklin announced that Ben Franklin Technology Partners recently approved investments in five local companies.
· Carbon Trap Technologies LP was approved for $150,000 to develop carbon sequestering techniques.
· MT Audit Services LLC will use $125,000 to market iHealth Platform software, which better manages the costs associated with medical transcription in the health-care industry.
· The Ultran Group was approved for $97,425 to develop and market a suite of non-contact ultrasound transducers and related systems for use in non-destructive testing and material characterization applications.
· Indigo Biosciences Inc. will receive $70,000 to commercialize development of single-use frozen nuclear receptor assays.
· KCF Technologies Inc. was approved for $150,000 to develop and commercialize its "smart tether" for underwater GPS navigation.
Conklin said the strategy at Ben Franklin Technology Partners is to invest in the development of early-stage companies with potential for significant job growth, provide funding to established manufacturers to grow employment and promote regional infrastructure that supports high-growth companies.
"The funding provided by these Ben Franklin investments is two-fold," Conklin said. "This money will allow these local companies to move forward with their projects while growing a significant number of stable, family-sustaining jobs in the State College area."
Ben Franklin Technology Partners is a statewide network that fosters innovation to stimulate Pennsylvania's economic growth and prosperity. Operating regionally with four centers strategically located throughout the Commonwealth, Ben Franklin Technology Partners brings together the best of Pennsylvania's people, ideas and technology to serve as a catalyst for advancing the state's knowledge-based economy.
###slb/2008/bt
l:'print'releases' BenFranklinInvestments.077