Grovara Earns Second Investment From Ben Franklin Technology Partners of Northeastern Pennsylvania
Ben Franklin Technology Partners of Northeastern Pennsylvania announced a $200,000 investment in Grovara earlier this week. It marks the second investment the tech-based economic development organization has made in Grovara’s first-to-market online global wholesale marketplace for American Better-For-You brands.
The Ben Franklin Technology Partners of Northeastern Pennsylvania (BFTP/NEP) invests in and supports companies to create and retain highly paid, sustainable jobs, catalyze technology-based economic growth in northeastern Pennsylvania, and advance technologies that improve the human condition.
Grovara, which calls Philadelphia home, received a $100,000 investment from BFTP/NEP in 2016 and spent much of 2017 working from the Ben Franklin’s TechVentures incubator on Lehigh University’s Mountaintop Campus.
BFTP/NEP has been recognized and modeled nationally and internationally as the gold standard in tech-based economic development. Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority. Since its inception, the entire BFTP network has:
- Helped start 520 new companies
- Created 18,536 new jobs
- Retained 37,328 existing jobs
- Stimulated $1.56B in follow-on funding