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Wednesday, May 27, 2009
ClickEquations, ColdLight and TicketLeap land $250,000 from Ben Franklin program

People may continue to debate whether or not the Philadelphia region is a place where information technology companies want to be.

In the meantime, the Ben Franklin Technology Center of Southeastern Pennsylvania seems to keep finding small tech companies in which to invest its money.

Or rather taxpayer money, because the center is one of four in Pennsylvania that receives funding from a 26-year-old state program.

Yesterday, the Ben Franklin center announced investments in eight early-stage companies, totaling $1.59 million. Three received the $250,000 maximum:

* ClickEquations Inc., a Conshohocken software developer focused on the paid Internet search advertising market. The company was started in 2004 by Craig Danuloff, who’d founded iCat Corp., which was acquired by Intel Corp. in 1998. Its CEO is Lucinda Holt, who started TurnTide and Destiny WebSolutions, both of which received Ben Franklin funding.

* ColdLight Solutions L.L.C., a Wayne developer of software-as-a-service applications to help businesses evaluate strategies. It previously received $250,000 from Ben Franklin.

* TicketLeap Inc., a Philadelphia provider of an online ticketing and event management service used by more than 8,000 venues and event organizers. TicketLeap also had gotten another $250,000 from Ben Franklin.

Technology is often about building bridges, and one Bucks County company is trying to make sure the bridges and highways that we build stay built. Smart Structures Inc., which got $230,000, makes a wireless sensor that is designed to be put into wet concrete during construction and monitor any changes.

Ben Franklin also invested $87,500 into a company that has been trying to take the paper out of what was supposed to be the paperless society. Based in West Philadelphia, the Neat Co. has several products that enable people to scan their receipts, bills and business cards and organize them. The Ben Franklin center had previously put $600,000 into it.

Other companies to obtain funding were: CoreDial L.L.C., of Plymouth Meeting, $100,000; Sage Technologies Ltd., of Warminster, $200,000; and Hybrid Integration L.L.C., of Yardley, $225,000.

Posted by Mike Armstrong @ 2:30 AM  Permalink | File Under: Economic Development | | Technology | Post a comment
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About Mike Armstrong
Mike Armstrong, a business editor and writer for nearly two decades, is the Inquirer's business columnist and PhillyInc blog editor.
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