High Technology : Innovation + Job News

The visionary folks at Ben Franklin Technology Partners of Southeastern PA have been as busy as the companies they support.

The highly successful economic development program announced on Monday a total of $1,975,000 to seven early stage companies with promising technology innovations. The companies included Ambler's Bioconnect Systems Inc. ($500,000), Glen Mills' Holganix LLC ($250,000), Devon's LiftDNA Inc. ($250,000), West Chester's LoSo Inc. ($125,000), Bala Cynwyd's Orion Security LSP, LLC ($200,000), Malvern's Quanta Technologies, Inc. ($250,000), and Malvern's Valence Process Equipment ($400,000).

Last Thursday, 21 other companies strutted their stuff in front of potential money as Ben Franklin partnered with Greater Philadelphia Venture Investors and the University City Science Center to host its annual Early Stage Venture Showcase at the Navy Yard. The event was open only to investors; angels, venture capitalists, and individual investors packed the room. Upstairs, the highly popular IT/Physical Science/Clean Technology track companies presented; downstairs, Life Sciences entrepreneurs told their stories to a much smaller crowd.

Ryan Caplan, of ColdLight Solutions, opened with a strong presentation highlighting his company's impressive proprietary Neuron platform, which offers automated data analysis derived from artificial intelligence, leading to highly targeted recommendations for retail, pharmaceutical and communications applications. Another standout was Holganix, a Glen Mills-based organic fertilizer company which is already servicing some massive lawns in its first year of business, including Longwood Gardens. The Holganix process unlocks already existing nitrogen from the soil and air through biological means and dramatically reduces the need for pesticides.

Downstairs a smaller but tougher crowd checked out Science Center tenants BeneLein Technologies, which uses a bioprocess to create generic antibiotics, and Vascular Magnetics, which hopes to develop a magnetic nanotechnology treatment for peripheral artery disease.

Doug Leinen, founder of BeneLein, says that he has not received direct feedback from investors. Richard Genzer, who attended the Venture Showcase on behalf of the Mid-Atlantic Angel Group, reports that he has taken further action with three companies.

Source: Doug Leinen, BeneLein, Richard Genzer, Mid-Altantic Angel Group
Writer: Sue Spolan

Flying Bytes is innovation nuggets from around the region:

CALLING ALL FRANCOPHILE JETSETTERS
Get your beret and cafe au lait. This summer, US Airways starts direct flights from Philadelphia to Quebec City. The daily, year round service begins June 2 and offers three nonstop round trip flights. The quick trip to the Quebec capital is under 2 hours each way.

THE LONG AND $HORT OF IT
Turner Investments of Berwyn announced the launch this week of three alternative mutual funds that employ hedge fund strategies. The Medical Sciences Long/Short, the Market Neutral and the Titan Fund all rely on diversified long and short investments. Matt Glaser, who manages the Market Neutral, says the funds seek to deliver superior risk adjustment return for clients. "Post financial crisis investors are looking for ways to mitigate risk and lower volatility, so hedge funds, and mutual fund vehicles are here to stay."

EARLY TAKEOFF
Drexel University engineering students will be working on Boeing projects, thanks to a long term agreement signed this week between CDI-Aerospace and Boeing. Through the school's co-operative education program, students will be working on structural designs, software conversions and stress analysis for the CH-47 military helicopter, the V-22 Osprey vertical takeoff and landing aircraft and the Boeing 787 commercial transport aircraft.

STEAMPUNK ACTION
The Kensington Kinetic Sculpture Derby is back for its 5th year, and organizers have put out a call for entries. Last year, participants crafted a bicycle powered steam engine, a conveyance that catapulted paint filled balloons onto a canvas, pirate ships and dragons, all foot powered. If your passion lives at the intersection of biking and art, visit the Sculpture Derby's home page for guidelines and registration forms. The event takes place May 21, and submit your entry form by April 15 to get free T-shirts for your team.

Source: USAirways; Henry Pyatt, Kensington Kinetic Sculpture Derby; Matt Glaser, Turner Investments, CDI
Writer: Sue Spolan

You may not be famliar with papain, bromelain and ficin, but they are all naturally occurring enzymes extracted from fruit trees and plants and used in a wide range of applications, including beer, cancer treatments and contact lens cleaner.

The newest tenant at the University City Science Center's Port Business Incubator (3624 Market St.) specializes in production and commercialization of those compounds and is hoping its entry to the U.S. market is just as naturally occurring. Belgium-based Enzbyel International announced last week it established its U.S. office through the Science Center's Global Soft Landing program,

According to Science Center spokesperson Jeanne Mell, the Global Soft Landing program, which helps global companies establish a presence in local life sciences and IT markets, has engaged eight companies--a number that figures to get larger as the Science Center expandsd its Global Soft Landing space at 3711 Market Street.

Nicolas Chatelain is Enzybel's lone employee at the Science Center and will focus on business development. He says Enzybel is actively seeking a second employee for its Philadelphia operations

"We would like to hire (someone) as a sales representative for the food ingredient and neutraceutical industries as soon as possible," he says. "We are looking for an American candidate that will have at least a Bachelor's degree in Food Science Chemistry or related discipline."

In addition to growing its food processing accounts and prospecting new markets, Enzybel is hoping to set up a joint venture with a distributor for its wastewater solution.

Source: Nicolas Chatelain, Enzybel; Jeanne Mell, University City Science Center
Writer: Joe Petrucci