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Ben Franklin’s investments successful despite COVID-19

Ben Franklin Technology Partners and its network of entrepreneurial clients played a significant role in lifting Pennsylvania’s economy and keeping people employed during the pandemic by innovating against COVID-19 and helping the state with its response and recovery efforts, according to the initiative’s 2020 Annual Statewide Impact Report.

Even amid the worst health care crisis in generations, the initiative supported 1,697 companies and helped clients create nearly 1,309 jobs while retaining 12,446 more positions, according to the report.

Ben Franklin clients continued to drive Pennsylvania’s economy with innovation and entrepreneurial efforts, developing 167 software copyrights and patents and launching 443 new products and processes.

Ben Franklin’s investments last year paid huge dividends for the commonwealth during the toughest of economic times, with clients generating more than $1.8 billion in revenue and securing $894 million in post-Ben Franklin financing.

“With the world in the grips of a global pandemic and our state and nation suffering both medically and economically, Ben Franklin Technology Partners and its clients rose to the occasion,” said Ryan E. Glenn, Ben Franklin’s director of statewide initiatives.

“Innovation has proved to be key in our response to this pandemic and it will remain central to our continuing recovery.”

Almost from the very first days of COVID-19, Ben Franklin clients have been working around the clock and contributing to efforts to address this public health issue in various ways, from treatments, to testing, to logistics, to other support mechanisms, including mobilizing or retooling manufacturing to produce the critical medical supplies and products to keep people healthy and safe.

For additional information, visit www.BenFranklinImpact.com.