More than 300 entrepreneurs, investors, educators, legislators, and other community leaders gathered under a big top tent in September to celebrate the grand opening of Ben Franklin TechVentures, a new high-tech incubator and post-incubator facility for technology companies. Ben Franklin TechVentures is located on Lehigh University’s Mountaintop Campus, across the street from the former Ben Franklin Business Incubator at Jordan Hall. The facility is owned and managed by Ben Franklin Technology Partners of Northeastern PA.

Cutting the ribbon on the new Ben Franklin TechVentures incubator and post-incubator facility are (L to R): John Callahan, Mayor, City of Bethlehem Thomas Stine, Board Chairman, Ben Franklin Technology Partners of Northeastern PA, and President, DBSi R. Chadwick Paul, Jr., President and CEO, Ben Franklin Technology Partners of Northeastern PA Rebecca Bagley, Deputy Secretary, Office of Technology Investment, Pennsylvania Department of Community and Economic Development Dr. Alice Gast, President, Lehigh University

"Our job is to create and retain family-sustaining jobs in northeast Pennsylvania by nurturing local high-tech companies," Chad Paul told the attendees.

The reduced operating costs of starting a company in a business incubator are typically what initially draw early-stage companies. But the business development assistance and sharing of best practices among tenants are also keys to success and are often viewed by company leaders as the most important reason to be a Ben Franklin client.

A Legacy of Innovation
Born out of the former Bethlehem Steel Homer Research Labs, TechVentures is uniquely situated to meet the needs of emerging technology-oriented businesses, including the life sciences. The massive 62,000-square-foot facility addresses the region’s growing appetite for incubator space and affordable wet laboratory facilities. The facility is located within the Southside Bethlehem Keystone Innovation Zone (KIZ). Tenant companies enjoy the resources, synergies, and other advantages of being located in the KIZ.

Established just months after Ben Franklin in 1983, the original Ben Franklin Business Incubator graduated 40 successful companies that, today, gross over $560 million in annual revenue, and have created more than 2,800 jobs. In recognition of its success and adherence to best practices, the Ben Franklin Business Incubator was named Incubator of the Year by the National Business Incubation Association.

Responding to Regional Needs
The original Ben Franklin Business Incubator had been at capacity for most of its quarter-century of operation. Both Ben Franklin and its northeastern Pennsylvania economic development colleagues had to turn away promising companies due to a lack of incubator space.

In addition, wet lab space has been nearly impossible to find in the Lehigh Valley. Wet lab space is necessary for emerging companies in many technology-based sectors, from electronics to biotechnology. But building a true wet laboratory is an expensive investment, so labs are almost never built on speculation. This creates a scarcity of research and development facilities for start-up companies.

The building, which was completely renovated inside and out, boasts 35,000 square feet of rentable space, including 11,000 square feet of wet lab space. This doubles the available wet lab space and more than triples the office and dry laboratory space available over the original Ben Franklin Business Incubator. Click here for complete building specifications.

"By renovating this building, we continue to fuel the technology economy by investing in infrastructure. The legacy of innovation continues," Paul said, concluding the grand opening ceremonies.

 From the October/November 2007 issue