For Immediate Release

BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA APPROVES INVESTMENTS TO FIVE EARLY STAGE COMPANIES

Diverse group of newly funded companies boost social media revolution, strides in energy conservation and more

PHILADELPHIA, PA - November 17, 2009 - (www.sep.benfranklin.org) - Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) recently approved investments totaling $950,000 for five early-stage Pennsylvania companies with novel technology innovations.

"We congratulate these five excellent companies for their vision and tenacity in pursuit of growth in difficult economic times," said RoseAnn B. Rosenthal, President & CEO of Ben Franklin Technology Partners of Southeastern Pennsylvania.


Companies approved for funding:

• BuLogics, Inc. - Philadelphia - Approved investment: $150,000
  
  BuLogics develops innovative, energy-saving technology products. Their main expertise is in engineering of wireless control systems for energy conservation, lighting and security; used in commercial, industrial and hospitality facilities.
  
  The company lets clients see in concrete terms their energy and cost savings. Its products include a remote control mechanism that can turn off multiple devices at once, and a multi-plug outlet that offers the option for some devices to continue to receive power while others are turned off.
  
  Mirka Walczak, Chairperson and CEO, has held executive-level positions for more than 25 years in communications, technology and healthcare companies. Ryan Buchert, co-founder, president and COO, previously developed technology and products at Unisys Corporation and InterDigital.
  
  
• CogniPower, LLC - Malvern - Chester County - Approved investment: $200,000
  
  CogniPower has re-examined the technology regarding power converters to improve their components, in an effort to improve efficiency.
  
  The company has developed an improved way to monitor current in the high-speed, high-current environment that is found in switched-mode power converters, and will use its technology to build better power products.
  
  CogniPower's seasoned management team includes founder, co-inventor and President Thomas Lawson, and co-inventor William Morong. Lawson heads Lawson Labs, Inc., which focuses on high resolution instrumentation, and has designed and marketed over 50 successful products to clients including NASA. Morong was previously Chief Engineer at Lexington Instruments Company, and worked for Analog Devices, Intronics, LTX, and National Semiconductor.
  
  
• Innova Materials, LLC - Philadelphia - Approved investment: $225,000
  
  Innova Materials' mission is to promote sustainability by creating technology that aids in sanitation/health, water purification and solar energy. The company grew from an original goal of developing a low-cost solution for addressing urgent water quality problems in the developing world.
  
  Innova uses its advanced materials technology called Innlay™ to easily give surfaces new qualities, including being antimicrobial.
  
  The company is led by co-founders Alexander Mittal and Arjun Srinivas, who also both serve as CEOs.
  
  
• ListenLogic, LLC - Fort Washington - Montgomery County - Approved investment: $250,000 (Ben Franklin previously invested $125,000.)
  
  ListenLogic has created a technology that allows the company to "listen in" on what people are saying on the internet about a client company. By tracking tweets, blogs, news and forums, ListenLogic tells clients what people are saying about their products, company, customer service, competition and more.
  
  The company uses "supercomputing" technology to compile real-time data on a client, and then uses the data to generate literal insights that help the client make quick, strategic business decisions.
  
  ListenLogic is led by co-founder and CEO Mark Langsfeld. Prior to founding ListenLogic, Langsfeld was the Vice President of New Product Initiatives at Move.com, a $250MM provider of online real estate search services and the operator of Realtor.com.
  
  
• Snipi, Inc. - Philadelphia - Approved investment: $125,000
  
  Snipi has created an online social media platform that is poised to become the way that people collect, organize, share and collaborate on their interests, including online retail.
  
  Snipi's tools—including browser toolbars and an iPhone application—allow users to easily capture products, photos, videos and other content off any web page, and share it via sites like Facebook and Twitter. Snipi's users can also start Streams, which let others contribute their "snips" to a conversation topic.
  
  The company's founder, president and CEO is Andre Golsorkhi, a serial entrepreneur who previously founded Omeda Design + Technology, which offers compelling design and web application services that stress interactive and functional qualities.
  
  

About Ben Franklin Technology Partners of Southeastern Pennsylvania

Ben Franklin Technology Partners of Southeastern Pennsylvania is the region's catalyst for Stimulating Entrepreneurial Potential. For over 25 years, we have invested in innovative enterprises and created commercialization pathways and partnerships that generate wealth through science and technology.

Ben Franklin is part of the Commonwealth of Pennsylvania's Ben Franklin Technology Partnership. We provide entrepreneurs and established businesses with the Capital, Knowledge and Networks to compete in the global marketplace. We have provided more than $130 million to grow more than 1,600 regional enterprises across all areas of technology.

Our partnerships with universities and others strengthen the innovative fabric of our region. We are founding partners of The Nanotechnology Institute™ (NTI), Mid-Atlantic Nanotechnology Alliance (MANA®), Pennsylvania Green Growth Partnership (PAGGP), Pennsylvania Advanced Textiles Research and Innovation Center (PATRIC), Pennsylvania Environmental Technologies for the Pharmaceutical Industry (PETPI), and the PA Biotechnology Center of Bucks County. We are founding partners of the Energy Commercialization Institute (ECI) and other partnerships emerging through our regional energy strategy, funded through the Commonwealth's Alternative Energy Development Program. Ben Franklin is also a founding partner of the Emerald Stage2 Venture Fund, the Minority Angel Investor Network, and is a partner of the Mid-Atlantic Angel Group (MAG) Fund I & II and DreamIt Ventures.

For additional information, please visit www.sep.benfranklin.org

BFTP/SEP Contact:
Jaron J. Rhodes
Manager, Marketing and Communications
(215) 972-6700, ext. 3214
jaron@sep.benfranklin.org