With support from a BFTP research Center of Excellence,
3-Dimensional Pharmaceuticals (3DP) is discovering drugs faster and with less
investment than has been historically possible. 3DP raised $86 million during its IPO in
2000 and now has more than 200 employees in southeastern PA.
Ben Franklin Delivers the Right Mix of Resources to Grow and Strengthen Pennsylvania's Businesses
For more than two decades Ben Franklin Technology Partners (BFTP), an international model for innovation in technology-based economic development, has worked to diversify and strengthen Pennsylvania's economy by focusing on entrepreneurial development and technological innovation. With a focus on the entrepreneur as the ultimate engine of growth, BFTP delivers crucial resources for technology-driven enterprises in sectors such as information technology, life sciences, communications, advanced manufacturing, advanced materials and environmental technology by:
- Investing risk capital in emerging technology-based enterprises and established businesses;
- Providing hands-on technical and business expertise to spur enterprise growth and accelerate commercialization activities; and,
- Delivering customized solutions that draw on an extensive network of public and private resources, including universities, federal laboratories and research institutions.
"Science & technology...have become an integral part of the economic development plans of most states. The importance of S&T has been recognized for several decades as a potent tool for public policy. Pennsylvania 's Ben Franklin Program [is] now approaching 20 years of operation and [is] still viewed as [a] keystone program..."
"The Dynamics of Technology-Based Economic Development"
U.S. Department of Commerce, Technology Administration
Office of Technology
An independent study has shown that the Commonwealth’s investment in the BFTP has yielded substantial returns for Pennsylvania taxpayers. From 1989 to 2001, BFTP boosted the state's economy by $8 billion and helped to create 93,105 job-years*. In addition, during the same period, every public dollar invested by BFTP yielded nearly $23 of additional state income.
Equally important are the hundreds of innovative technologies and scientific discoveries that BFTP has supported, including process control systems used in the U.S. Navy's defense operations; anti-viral agents for treating HIV/AIDS; pioneering medical devices; advanced automated microstructure metrology tools for the semi-conductor industry; proprietary software products that accelerate the pace of scientific research and discovery; state-of-the-art training tools for new drivers; and enhanced recycling processes and systems.
Ben Franklin Technology Partners understands the importance of investing in, building upon and delivering the right mix of resources to successfully grow Pennsylvania's 21st century enterprises.
* Job years are defined as the number of jobs created that lasted a full year or more multiplied by the number of years they have existed to date.
