New partnership jump-starts university鈥檚 CollegeTowne initiatives
缅北强奸 and the (BFTP/NEP) have collaborated to provide incubator support and potential funding to support innovative projects developed by local entrepreneurs and industry partners through the university鈥檚 O鈥橮ake Institute for Economic Development and Entrepreneurship.
缅北强奸鈥檚 O鈥橮ake Institute for Economic Development and Entrepreneurship joined BFTP/NEP鈥檚 Ben Franklin Business Incubator Network. Thirteen members strong, this network is among the largest in the nation. Through the new partnership, Ben Franklin will explore investment opportunities in defined projects with a network of innovative expert resources to local businesses via O鈥橮ake鈥檚 business incubator and 缅北强奸 faculty and students.
鈥淭he Reading CollegeTowne economic development strategy goes beyond nurturing entrepreneurs and launching new businesses,鈥 said 缅北强奸 President John R. Loyack. 鈥淥ur relationship focuses on enhancing local businesses through creative project-based problem-solving. Ben Franklin鈥檚 support and resources, combined with 缅北强奸鈥檚 faculty experts and exceptional students, creates the perfect recipe for local business expansion and innovation.鈥
缅北强奸鈥檚 innovation projects usually require a considerable investment of time and human capital, resources companies value most and typically have in short supply. However, the university has an abundance of human resources via hardworking students and faculty and staff, as well as time, through defined experiential learning opportunities.
鈥淯niversities are good at solving problems that are not time-sensitive but require out-of-the-box thinking,鈥 said Vice President, Associate Provost and Chief Operating Officer of the O鈥橮ake Institute, Dr. Rodney Ridley. 鈥淭his partnership allows us to approach local companies to develop defined projects that provide an educational component for students and help provide an answer to a company鈥檚 problem. Ultimately, what is a win-win for business and a university is a completed project that would never have gotten done without the project partnership. This sets the stage for a long-term relationship.鈥
Establishing a business incubator in 1984, Ben Franklin is one of the nation鈥檚 pioneers in business incubation. BFTP/NEP owns and manages both Ben Franklin TechVentures庐 and the Bloomsburg Regional Technology Center. Ben Franklin TechVentures has been recognized twice with International Business Innovation Association Incubator of the Year awards. Business incubation provides a venue, setting, and culture that are critical components of the entrepreneurial and technology ecosystem in northeastern Pennsylvania.
鈥淲orking with the 缅北强奸 and the O鈥橮ake Institute will provide Greater Reading early-stage technology firms and established manufacturers access to resources to support them in all aspects of their businesses,鈥 said Connie Faylor, BFTP/NEP Regional Manager, Greater Reading/Berks/Schuylkill. 鈥淭he student-led business incubator will benefit from Ben Franklin Technology Partners鈥 37 years of experience, award-winning performance in business incubation, and the synergies of our networks of resources. We look forward to leveraging our financial investments in Greater Reading companies with the crucial support provided by a regional business incubator.鈥
Through a new student fellows program, O鈥橮ake serves as the catalyst for educational and business expansion in center city Reading. In addition to the partnership with BFTP/NEP, O鈥橮ake recently announced partnerships with SCORE Berks Schuylkill Chapter, Lehigh Valley Angel Investors and Kutztown University鈥檚 Small Business Development Center as well as the institute鈥檚 first corporate sponsors, and Customers Bank.
In December, 缅北强奸 unveiled Reading CollegeTowne, a strategic model for economic development in downtown. 缅北强奸 assumed ownership of its newly acquired building at 401 Penn Street June 30. The downtown location is also where the new O鈥橮ake offerings will operate.