Ben Franklin Technology Development Authority
The purpose of the Ben Franklin Technology Development Authority (Tech Development Authority or Authority) is to ensure Pennsylvania companies and entrepreneurs have all the tools they need to build globally competitive technology companies right here in Pennsylvania.
Pennsylvania’s economy has been undergoing a dramatic transformation as the commonwealth moves to an economy driven by technology – through the creation of new industries and the application of new technology in traditional industries.
The Ben Franklin Technology Development Authority was created by Act 38 of June 22, 2001.
The Authority’s board consists of Pennsylvania leaders from germane and influential walks of life, including elected officials, thought leaders in higher education, finance, technology and nonprofit economic development organizations. It is considered Pennsylvania's leading source for the technology strategy and funding that leads to proven prosperity, jobs and economic development.
Technology will drive the way of the future.
Over the last decade, the Tech Development Authority has funded a series of successful programs that work together to create a flexible, dynamic framework that is both proactive to the market and to the changing industry sectors. The Authority has tailored these programs (one of which is the similarly named Ben Franklin Technology Partners) for companies at different stages of the business lifecycle to create a fluid continuum to meet their specific needs and challenges every step of the way.
This flexible framework allows the Authority to respond to up-and-coming industries, economic development trends and changes in private market capital flows. This built-in flexibility enabled the introduction of initiatives like the Pennsylvania Initiative for Nanotechnology, the Pennsylvania Initiative for Energy and the Environment, the Keystone Innovation Zones and support of the Pennsylvania Angel Network.
The impact is significant: from 2003-2010 the Tech Development Authority aided the creation of more than 1,000 new companies and 20,000 new jobs, and provided funding and technical assistance to more than 26,000 businesses.
Jobs. New Companies. Innovation. These are the results of funding technology in Pennsylvania and the reason why the Tech Development Authority is a critical part of our future.
Programs the Authority Manages
The Authority manages several programs which provide a continuum of financial and technical assistance and builds Pennsylvania’s tech-based economic development infrastructure:
- University Commercialization Grant Program
- Innovation Grant Program
- Keystone Innovation Zone Program
- Technology Development Grant Program
- The Ben Franklin Technology Partners
- Venture Investment Program
- Ben Franklin Technology Development Authority Annual Report 2013 (pdf)
- Ben Franklin Technology Development Authority Annual Report 2012 (pdf)
- Ben Franklin Technology Development Authority Annual Report 2011 (pdf)
- Ben Franklin Technology Development Authority Annual Report 2010 (pdf)
- Ben Franklin Technology Development Authority Brochure 2010 (e-book)
BFTDA Board Members
The Authority is governed by a 21-member Board as prescribed in the Ben Franklin Technology Development Authority legislation.
Previous Board Meeting Minutes
- Minutes for October 28, 2010 Board Meeting
- Minutes for January 27, 2011 Board Meeting
- Minutes for March 31, 2011 Board Meeting