PA-Grown Technology Company Recognized with Prestigous National Award

Release Date: Jul 28, 2009  |  Author: Jamie Fulginiti (DCED) 717-783-1132

ATM, Fax Machine and HDTV Among Past Winners  

HARRISBURG – An industry magazine that recognized the fax machine, ATM and high definition television before they were popular has recognized a Philadelphia start-up company’s product as being one of the most “technologically significant” of the past year.

The product—the Tunable Nanoporous Carbon—is produced by Y-Carbon Inc. and has been recognized in R&D Magazine’s 47^th annual R&D 100 Award.

Department of Community and Economic Development Secretary George Cornelius said Y-Carbon’s success was nurtured by the commitment and investment in the company by the commonwealth, the Ben Franklin Technology Development Authority, academia and industry partners.

“With the support of the Rendell administration, Y-Carbon came up with a product that provides clean energy, safe drinking water and, amazingly, improves health care,” Cornelius said. “This is a prime example of the great things that can happen for Pennsylvania’s technology companies when industry, academia, government and entrepreneurs work together.

“The continuum of services offered and the spirit of collaboration present in Pennsylvania set the perfect climate for emerging technologies and small business growth,” Cornelius said. “This recognition is testament to that.”

The Nanotechnology Institute and the Pennsylvania Nanomaterials Commercialization Center, two partners within the Pennsylvania Initiative for Nanotechnology that are funded by the Ben Franklin Technology Development Authority, provided Y-Carbon with more than $300,000 in seed funding for research and development. The Wharton Small Business Development Center, one of the 18 small business development centers throughout Pennsylvania, also assisted Y-Carbon.

The company is located in a Keystone Innovation Zone, or KIZ, and has benefited from the commonwealth’s R&D tax credit program.

“I’ve been a founder or officer of technology start-ups in multiple states,” said Y-Carbon CEO Ken Malone. “There is no better place than Pennsylvania to grow an advanced-technology company.”

Despite the success of Y-Carbon and other Pennsylvania companies that have emerged on the global stage with the support of the commonwealth, Cornelius noted that funding for the Ben Franklin Technology Development Authority, the parent funding source for projects like Y-Carbon’s, and funding for small business development centers are at risk in ongoing budget negotiations. 

The R&D 100 Awards help companies by providing the vital push a new product needs to compete successfully in the marketplace. Winning an R&D 100 Award provides a mark of excellence and is recognized as proof that the product is one of the year’s most innovative ideas.

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