$1.5 million in grants awarded to PA tech industry

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HARRISBURG, Pa. (WTAJ) — The Pennsylvania Department of Community and Economic Development (DCED) awarded $1.5 million in grants to allow businesses access to technology commercialization services.

This grant was a partnership with the Ben Franklin Technology Development Authority (BFTDA) and the funds will go to each of the four Ben Franklin Technology Partners (BFTPs).

The BFTDA, through the Venture Investment Program, also approved $1 million in funding to Riverfront Ventures II, LLC. Riverfront Ventures works alongside Innovation Works of Pittsburgh, a BFTP, to invest in early-stage technology companies.

“Our commonwealth’s economy is in active recovery from COVID-19 related impacts, and this funding will continue to support Pennsylvania’s technology companies as they move forward,” said Sec. Davin. “This industry has been an innovative leader in responding to the needs of the state as we navigate the COVID-19 pandemic, so continuing to support their efforts is critical.”

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