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For Immediate Release
BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA APPROVES $2.3 MILLION OF INVESTMENTS IN TEN DYNAMIC, EMERGING COMPANIES
PHILADELPHIA, PA - May 27, 2008 - Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) has approved investments totaling $2.3 million for ten early stage technology companies.
"This round of company investments continues to demonstrate the rich diversity of our region's technology, for both consumer products and services, and industry applications," said RoseAnn B. Rosenthal, President & CEO of Ben Franklin.
Companies approved for funding:
- Advanced Mobile Solutions Worldwide, Inc. - Wayne - Chester County - Approved Investment: $250,000
www.advancedmobile.us
Advanced Mobile Solutions (AMS) is an innovator in the mobile publishing and classified listings search space. AMS provides mobile technology and services that enable the newspaper and publishing industry to enhance advertising revenue, expand content distribution and reach new audiences. AMS' existing suite of mobile text applications and unique search functions allow clients to quickly establish a mobile channel with content/editorial distribution, marketing campaigns, and mobile alert services. One of the company's most popular services delivers classified ads to the mobile phone.
AMS customers include many popular print and web publishing brands in the US, such as: Apartments.com, NJ.com/The Star-Ledger, Chron.com/The Houston Chronicle and Builder Homesite, Inc.
Bret J. Dunlap is founder and CEO of AMS. Mr. Dunlap previously co-founded Advanced Telecom Services, Inc. (ATS), which has been supplying telephone and internet-based services to media since 1989. Today, ATS is a leading interactive voice response company, having provided audio text applications for hundreds of media companies within the newspaper, radio and TV industries.
- American Hometec, Inc. - Relocating to PA - Approved Investment: $100,000
www.americanhometec.com
American Hometec develops and markets advanced tankless water heaters for residential and light commercial markets. Employing a novel, patent pending heating technology, the products offer high energy efficiency, superior temperature control, and long service life. The devices heat water only when needed, rather than providing a continuously heated supply, thus providing significant energy savings over traditional tank-based devices. Some of the products are also eligible for federal tax credits. Other tankless water heater technology is used extensively throughout Europe and Asia.
Shimin Luo is the Founder of American Hometec.
- ColdLight Solutions, LLC -Fort Washington - Montgomery County - Approved Investment: $250,000
www.coldlightsolutions.com
ColdLight Solutions provides next-generation Business Intelligence technology that automates the process of transforming complex data into competitive action. ColdLight's prescriptive technology helps businesses improve market research, strengthen customer loyalty, detect growth opportunities and grow profits.
- Collages.net, Inc. - Langhorne - Bucks County - Approved Investment: $150,000
(BFTP/SEP previously invested $350,000 in 2002 and 2003)
www.collages.net
Collages.net enables professional photographers to offer their clients customized, e-commerce websites, high-end products such as albums and proof books, DVD slide show presentations, and professionally printed images for events, such as weddings, portraits, sports, special events, reunions, and corporate parties. Collages.net's platform allows photographers to sell pictures online and market their studios to guests, associates, friends and family members who previously had no access to the professional photographs. Today, Collages.net is partnered with over 10,000 professional photographers.
Kevin Casey, CEO, has held key roles in two start-up companies in the medical and laboratory industries. He earned an MBA from Rensselaer Polytechnic Institute.
- DermAvance Pharmaceuticals, Inc. - Berwyn - Montgomery County -
Approved Investment: $500,000
www.dermavance.com
DermAvance develops, acquires and commercializes innovative anti-aging products that enhance the health and appearance of aging skin in-order-to treat dermatologic conditions and diseases. The company markets and sells both prescription and cosmeceutical products to dermatologists and aesthetic physicians. Recently the company completed the acquisition of a patented combination second generation dermal filler that will compete in the booming aesthetic market.
Keith A. Greathouse is President and Chief Executive Officer of DermAvance. Mr. Greathouse has over 27 years of industry experience with major pharmaceutical companies, and was previously Executive Vice President for Dermik Laboratories, Inc.
- Internet Order, LLC - Philadelphia - Approved Investment: $200,000
www.pimsleurapproach.com
Internet Order is a product marketing company with capabilities in the areas of interactive and traditional direct response advertising. The company is focused on the domestic self-improvement market, primarily marketing Pimsleur language course materials.
Dan Roitman is Founder and CEO of Internet Order.
- Healthy Humans, LLC - Wayne - Chester County - Approved Investment: $150,000
www.healthyhumans.com
Healthy Humans helps people with chronic illnesses achieve better outcomes. They provide personalized integrative health solutions and online health guidance - developed by integrative health and medical experts - including all the information, resources, social networking and interactive tools to empower individuals to live healthy and well. Their site will be launched this summer.
Chris Conway is the Founder & President of Healthy Humans.
- Novetas (previously New Age Blast Media) - Relocating to PA - Approved Investment: $300,000
www.newageblastmedia.com
Novetas develops and markets environmentally friendly blast media (sand-blasting material) using recycled glass feedstock. Blast media is used to remove dirt, grime, rust, and paint in commercial (e.g. buildings and bridges) and military (e.g. ships) applications. Glass feedstock is a substitute for traditional coal slag and sand feedstock, which can cause health complications. The company is a spin-off of New Age Fastening Systems Inc., an industry leader in the application and technology of stud welding.
Paul Mellon, Jr. is President of Novetas.
- Real-Time Tomography, LLC - Villanova - Montgomery County - Approved Investment: $150,000
Real-Time Tomography (RTT) is developing technically innovative medical imaging products to increase diagnostic accuracy and improve clinical workflow. RTT has developed a technology that enables the clinical application of tomographic imaging for the detection and diagnosis of breast cancer. This technology was developed with NIH SBIR grant support and is patent-pending.
RTT founders, Susan Ng and Peter Ringer, have more than 30 years experience in the medical imaging industry. Both were original members of Ecton, a successful medical device startup which was previously funded by BFTP/SEP and exited through a sale to Siemens. Susan Ng is President and CEO of Real-Time Tomography.
- TicketLeap, LLC - Philadelphia - Approved Investment: $250,000
www.ticketleap.com
TicketLeap.com is a web-based platform that enables event organizers anywhere to sell tickets online in a simple, highly cost effective manner. The service is designed to meet the needs of a wide variety of user types in the small-to-medium sized segment, including community theatres, sporting events, comedy clubs, bars, seasonal festivals, business meetings and seminars, charitable and political fundraisers, and more.
The TicketLeap.com open platform can be implemented via multiple channels simultaneously, including the organizers' own website and marketing collateral, social networking sites, traditional media, and strategic partners. The Company's objective is to be the most simple and flexible platform - enabling anyone, anywhere, to sell tickets to their events in a matter of minutes.
The company is based was incubated within the "Venture Initiation Program" at the Wharton School of the University of Pennsylvania, by graduate Chris Stanchak (W'03).
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About Ben Franklin Technology Partners of Southeastern Pennsylvania
Celebrating our 25th anniversary, BFTP/SEP is the region's catalyst for Stimulating Entrepreneurial Potential. Ben Franklin invests in innovative enterprises and creates commercialization pathways that generate wealth through science and technology. Part of a statewide network in Pennsylvania, BFTP/SEP provides entrepreneurs and established businesses with the Capital, Knowledge and Networks to compete in the global marketplace. BFTP/SEP has provided more than $130 million to grow more than 1,600 regional enterprises. BFTP/SEP is a founding partner of The Nanotechnology Institute™ (NTI), Mid-Atlantic Nanotechnology Alliance (MANA®), Emerald Stage2 Venture Fund and the Minority Angel Investor Network. BFTP/SEP is part of the Commonwealth of Pennsylvania's Ben Franklin Technology Partnership.
We are Uniquely Ben™
For additional information, please visit www.sep.benfranklin.org
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