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Financing programs for ideas
whether its taking an idea and turning it into a business, or supporting creative endeavors of high tech research and development firms. The financing programs below differentiate between technical assistance, e.g., improving a manufacturing process, or developing a better management plan, and technology investments.
Program information is provided by the PA Department of Community and Economic Development (DCED). Contact WEDCO to learn how and where to apply, or visit DCEDs website for specific program guidelines.
For a summary of our most commonly used financing programs, download WEDCOs Financial Guide.
Technical Assistance
Ben Franklin Partners Challenge Grant Program
Grants for research and development, technology transfer, joint research and development.
Industrial Resource Centers Network (IRCs)
Financial and technical assistance to manufacturers to improve their manufacturing operation.
Small Business Development Centers (SBDCs)
Technical assistance and consulting services to current and prospective entrepreneurs. SBDCs' consulting areas of expertise range from business plan development and implementation to issue areas related to current business operations.
Technology Investments
Ben Franklin Partners Challenge Grant Program
Grants for research and development, technology transfer, joint research and development.
Ben Franklin Technology Development Authority (BFTDA) Company
Financing available as direct investment to or on behalf of technology-oriented businesses located in or maintaining a substantial operating presence in Pennsylvania.
Ben Franklin Technology Development Authority (BFTDA) Technology Investment Grants
Grants designed to help groups or consortia of Pennsylvania companies position themselves at the cutting edge of emerging technologies and establish a competitive advantage through the use of advanced e-business systems.
BEN FRANKLIN PARTNERS CHALLENGE GRANT PROGRAM
Eligibility
Start-up or existing companies
Advanced technology
Research and development
Eligible Uses
Research and development
Technology transfer
Joint research and development between private companies and universities
Technology training/entrepreneurial infrastructure
Amounts
Typically range from $5,000 to $250,000 (Varies somewhat between Centers and project type)
Terms
Loan, sometimes convertible to equity position
Royalty/payback
Grants for non-research and development
For more information
Ben Franklin Technology Partners of Northeastern Pennsylvania
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INDUSTRIAL RESOURCE CENTERS NETWORK (IRCs)
Eligibility
Small- to mid-sized manufacturers employing 500 or fewer employees
Eligible Uses
Provide value-added service in assisting manufacturers in improving quality, productivity and adaptation of modern manufacturing technologies
Amounts
Services provided vary from company to company in type and amount
Terms
Financial assistance may be grant or loan, depending on situation
Fees for service sometimes charged
For more information
Contact Northeast PA Industrial Resource Center
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SMALL BUSINESS DEVELOPMENT CENTERS (SBDCs)
Eligibility
Entrepreneurs
Small businesses
Business persons
Eligible Uses
Provides technical assistance for turning ideas into businesses
Helps small firms expand
Provides information necessary for businesspersons to make important decisions
Amounts
Services provided vary from business to business and from person to person
Terms
Technical assistance depends on situation
For more information
Contact the University of Scranton Small Business Development Center (SBDC)
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Technology Investments
BEN FRANKLIN PARTNERS CHALLENGE GRANT PROGRAM
Eligibility
Start-up or existing companies
Advanced technology
Research and development
Eligible Uses
Research and development
Technology transfer
Joint research and development between private companies and universities
Technology training/entrepreneurial infrastructure
Amounts
Typically range from $5,000 to $250,000 (Varies somewhat between Centers and project type)
Terms
Loan, sometimes convertible to equity position
Royalty/payback
Grants for non-research and development
For more information: Ben Franklin Technology Partners of Northeastern Pennsylvania
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BEN FRANKLIN TECHNOLOGY DEVELOPMENT AUTHORITY (BFTDA) - COMPANY
Eligibility
For profit businesses
Must fall within SIC or NAICS codes
Venture Capital Funds
Eligible Uses
Company/product expansion
Venture Capital Funds investing in Pennsylvania companies
Amounts
Variable
Terms
Financial return to BFTDA
BFTDA investment not to exceed 20% of total investment
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Ben Franklin Technology Development Authority (BFTDA) Technology Investment Grants
Eligibility
Not-for-profit organizations
Community groups
Eligible Uses
Technology development/advancement in the community
Amounts
Variable
Terms
Grants directed through a qualified Economic Development Organization
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