Ben Franklin Technology Partners of Northeastern Pennsylvania (Ben Franklin Northeast) recently approved $675,000 in funding in support of regional economic development.
Three of the seven companies selected for investment are in the Lehigh Valley. 
OptoVibronex
A life science startup located at Ben Franklin TechVentures in Bethlehem, OptoVibronex received $100,000.
The company is developing a non-invasive technique that will offer physicians a faster way to diagnose diseases and track the effectiveness of treatments in fields such as skin cancer, ophthalmology, breast cancer, wound healing, dermatology, orthopedics, neurology, and vascular surgery.
The Ben Franklin investment supports completing clinical trials, publishing findings, and applying for Food and Drug Administration approval.
UBMe
UBMe, a web and mobile application that provides end-to-end experience management for events, received $100,000.
Located in Bethlehem, the platform incorporates event discovery, ticketing, food and merchandise sales, and a social media element to keep people engaged while at events. The Ben Franklin investment supports product development and customer acquisition among restaurants, event organizers, and higher education.
Follett Products
Follett Products manufactures high quality, innovative ice storage bins, ice storage and transport systems, ice machines, ice and water dispensers, ice and beverage dispensers, and medical-grade refrigerators and freezers for the food service and healthcare industries.
The Ben Franklin investment of $25,000 supports preparation for a Enterprise Resource System (ERP) system upgrade by analyzing current processes, establishing system level requirements, identifying opportunities to implement digital process improvement, and helping to build a foundation for change management. Follett, located in Forks Township, will partner with Lehigh University’s Center for Supply Chain Research on the upgrade project.
(Editor’s Note: Follett President Korey Kohl was interviewed by Lehigh Valley Economic Development Corp. as part of LVEDC’s Executive Interview Series. Watch the video of the interview here.)
Ben Franklin Northeast has been building an ecosystem that fosters innovation and entrepreneurial success by providing investment capital and business support services to technology startups and established manufacturers for 40 years. Ben Franklin Northeast invests in and supports companies to create and retain highly paid, sustainable jobs, accelerate technology-based economic growth in northeastern Pennsylvania, and advance technologies that improve the human condition.