The concept of business incubators in Pennsylvania originated with the BFTP/NEP program. Established just months after BFTP/NEP in 1983, the Ben Franklin Business Incubator has graduated 33 successful companies, grossing more than $350 million in annual revenue, and creating more than 2,460 jobs.
The BFTP/NEP Business Incubator, located on Lehigh University's Mountaintop Campus, was named 2001 National Business Incubator of the Year by the National Business Incubation Association (NBIA). Staff apply the incubation expertise that won this honor in support of business incubators in a network throughout northeastern Pennsylvania.
The Center has collaborated with regional economic development organizations to establish and support a 10-incubator network of facilities:
- Ben Franklin Business Incubator Center (Bethlehem)
- Bloomsburg Technology Center
- Bridgeworks Enterprise Center (Allentown)
- CAN BE (Hazleton)
- Carbondale Technology Transfer Center
- East Stroudsburg University Accelerator
- Pottsville/Schuylkill Technology Incubator
- The Enterprise Center (Sayre)
- Great Valley Innovation Center (Wilkes-Barre)
- Scranton Enterprise Center
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 key benefits.
Ben Franklin staff meet with incubator managers regularly to exchange ideas and information, work collaboratively and provide guidelines that are in accordance with NBIA standards. Further, the NBIA provides regular training sessions, including an annual institute for managers' professional development. The greatly enhanced success rate of incubated companies is an important element in Ben Franklin's strategy for developing the technology infrastructure in the region.
From the September/October 2005 issue
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