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2 0 1 3performancep r o f i l e

PARTNERS WITH A PURPOSE

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RoseAnn B. RosenthalPresident & CEO

Stephen T. ZarrilliChairman of the Board

A MESSAGE FROM THE CHAIR, & PRESIDENT & CEO

*Calendar Year 2012

Ben Franklin entered its 30th year with a renewed commitment to providing the Capital, Knowledge and Networks that help innovative enterprises thrive. The original vision was never more in vogue as communities around the globe develop their own approaches to spur the innovations that can help ensure economic vitality and growth opportunities. And the economic impact of the Ben Franklin model was demonstrated yet again…with a return to the Commonwealth of PA of $3.60 : $1.00 in new state taxes generated and a boost in PA Gross State Product by $6.6 billion from 2007 through 2011.

In Southeastern PA, there is a distinct buzz…coming from entrepreneurs in virtually all segments of our community, our universities, county governments, and even large corporations, who are looking for innovative approaches and solutions from outside their walls. Innovate in PA, a new Commonwealth initiative, will flow in $80+ million for seed stage investments. And it’s needed…as documented by the Venture Impact Report released in October by Ben Franklin, PACT and EY.

Outcomes are what matter, so here are some of our outcomes for 2013:• We committed $6.3M to 39 companies, making us the most active

seed investor in the region and among the most active nationally• We provided assistance to more than 235 companies• Our portfolio companies:*

• Created and/or retained 413 jobs• Raised $193M in follow-on funding• Developed 89 new products and services• Filed 103 patents, trademarks and licenses granted

We couldn’t do this without the support and contributions of so many of our friends and family and our many regional partners. Our team looks forward to an even better set of outcomes next year, and hopes to engage you in the work of bringing Dreams to Reality!

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2013 CLIENT SUCCESSES

A C Q U I R E DF O R

$13.5M $14.9MR A I S E D

R A I S E D

$9.1MA C Q U I R E D

F O R

$250M

$5.3MR A I S E D

R A I S E D

$20M+

IPO TOTALED

$79.6M

R A I S E D

$3.5M

®

R A I S E D

$10M

A C Q U I R E DF O R

$144M

Building 100 Innovation Center

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BEN FRANKLIN’S 30TH ANNIVERSARY

Ben Franklin celebrates 30 years of helping Pennsylvania’s talented entrepreneurs bring their Dreams to Reality.

On June 3rd, the Ben Franklin Technology Partners celebrated their 30th anniversary, with the help of three Pennsylvania Governors and more than 200 guests. With an introduction by State Senator John Gordner, the celebration was held at the Harrisburg University of Science and Technology.

Ben Franklin proudly announced the results of an independent evaluation of its statewide economic impact.

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June 3, 2013 - Ben Franklin 30th Anniversary Event

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Ben Franklin Statewide Impact 2007-2011*

*Conducted by the Pennsylvania Economy League and KLIOS Consulting.

Governor Tom Corbett

“The Ben Franklin Technology Partners continue to be a national model, powering the next generation

of entrepreneurs and helping to transfer new technologies into the marketplace. My administration will

continue to support Ben Franklin to help create the innovative, high-tech and high-wage jobs that emerge

from the work of the partners. Congratulations on celebrating 30 years of success and enabling Pennsylvania

to remain the State of Innovation.”

Governor Tom Ridge

“I am very glad to be part of the 30th anniversary of Ben Franklin Technology Partners. Ben Franklin

has an enviable track record launching successful new technology companies and helping established

manufacturers innovate. As Chairman of the State Science and Technology Institute, I know first-hand that

Ben Franklin has become the gold standard for technology-based economic development and the advantage

that gives our state at many levels. Ben Franklin is truly one of the things that keep Pennsylvania a leader

among states and a competitor among nations.”

Governor Dick Thornburgh

“While it is hard to believe it has been thirty years since the founding of Ben Franklin Technology Partners,

I am gratified by the positive impact it has had on the Pennsylvania economy. We knew back in 1982 that

Pennsylvania had to diversify toward a knowledge-based economy and leverage the research and talent

coming from our many institutions of higher education. Ben Franklin has helped the Commonwealth do

just that and has built a powerful innovation network that is second to none in the country.”

BOOSTED

STATE ECONOMY

BY $6.6 BILLION

$3.60 TO $1.00

PAYBACK TO THE STATE

INCREASE OF

$502 MILLION

REVENUE FOR PA

$63,370 WEIGHTED-AVERAGE ANNUAL SALARY FROM BFTP CLIENTS:

36% HIGHER THAN AVERAGE FOR ALL PRIVATE NON-FARM INDUSTRIES IN PA

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CAPITALBen Franklin’s Investment Group provides critical risk capital and customized client support, working with entrepreneurs to realize their vision and attract other investment sources.

Select Investment Programs & Partners

Project Liberty Digital IncubatorIn 2013, the John S. and James L. Knight Foundation continued

its partnership with the Project Liberty Digital Incubator with the

announcement of a $345,000 award. Project Liberty launched in

2011 to foster digital media innovations by catalyzing a community

of startups that interact directly with the newsroom. Project Liberty

is managed by Ben Franklin and housed by Interstate General Media,

LLC (IGM), publisher of The Philadelphia Inquirer, Philadelphia Daily

News and Philly.com. Project Liberty’s ten startups have gone on

to raise more than $7 million. Six of the companies are now in Ben

Franklin’s portfolio, and five have active media projects with IGM.

Project Liberty was the first incubator in the nation to reside within a

traditional media company, a model now followed by The New York

Times, The Boston Globe and other media outlets.

Emerald Stage2 VenturesEmerald Stage2 is a venture fund

formed under the leadership of

Ben Franklin to address the need for early-stage venture

capital in information technology companies across PA and

the Mid-Atlantic region. Emerald Stage2’s $13.5 million fund,

raised in 2009, invested in eleven companies, four of which

are Ben Franklin portfolio companies.

s2vc.com

DreamIt VenturesDreamIt Ventures, an entrepreneurial

accelerator program for IT

enterprises, was launched in 2008

with Ben Franklin as a lead institutional investor. The accelerator

has launched more than 90 companies, which have raised more

than $100 million.

dreamitventures.com

In 2013, Ben Franklin committed $6.3M to 39 companies across three technology sectors.

IT

LifeSciences

PhysicalSciences

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August 7, 2013 - Project Liberty Funding Conference

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2013 COMPANY INVESTMENTS*

AboutOneChester County $200,000aboutone.com

AgileSwitch Philadelphia County $250,000agileswitch.com

Aklero Risk AnalyticsMontgomery County $29,200aklero.com

Alencon SystemsMontgomery County$400,000alenconsystems.com

Brad’s Raw ChipsBucks County$100,000bradsrawchips.com

CloudMine Philadelphia County$100,000cloudmine.me

Clutch HoldingsMontgomery County$200,000clutch.com

Cocurrent BioEnergyBucks County$250,000cocurrentbioenergy.com

Corridor PharmaChester County$17,373corridorpharma.com

Digital Life TechnologiesMontgomery County $225,000

Dynamis Skin ScienceMontgomery County$500,000meg21.com

EasyCopayMontgomery County$75,000easycopay.com

Grassroots UnwiredPhiladelphia County $100,000grassrootsunwired.com

HealthQxMontgomery County $150,000healthqx.com

iMomentousMontgomery County $250,000imomentous.com

MBF TherapeuticsMontgomery County $50,000mbftherapeutics.com

Miria SystemsMontgomery County$200,000miriasystems.com

MVP InteractivePhiladelphia County $125,000mvp-interactive.com

OneTwoSeePhiladelphia County $75,000onetwosee.com

Orion Security LSPMontgomery County $75,000orionlsp.com

Power & EnergyBucks County $250,000powerenergy.com

PowerlyticsBucks County $150,000powerlytics.com

QLIDA DiagnosticsPhiladelphia County $250,000

QR PharmaChester County $140,000qrpharma.com

Real Food WorksPhiladelphia County $175,000realfoodworks.com

RMH SciencesBucks County $50,000

Rumble NewsPhiladelphia County $150,000rumble.me

SidecarPhiladelphia County $110,000hello.getsidecar.com

Smart StructuresBucks County$150,000smart-structures-inc.com

SnipSnap AppPhiladelphia County $100,000snipsnap.it

SolarGrid StoragePhiladelphia County $250,000solargridstorage.com

tapCLIQPhiladelphia County $100,000tapcliq.com

TelefactorMontgomery County$400,000telefactor.com

TicketLeapPhiladelphia County $50,000ticketleap.com

Versify Solutions Delaware County $33,488iversify.com

Vistar MediaPhiladelphia County $200,000vistarmedia.com

WizeHiveMontgomery County $75,000wizehive.com

ZaahahPhiladelphia County $30,000zaahah.com

ZSX MedicalPhiladelphia County $250,000zsxmedical.com

* Fiscal Year 2013 (July 1, 2012 - June 30, 2013)

Project Liberty Supported

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INNOVATE IN PA CAPITAL:

On October 18th, Governor Tom Corbett joined entrepreneurs, members of the legislature, and guests, to launch Innovate in PA at Ben Franklin’s headquarters in the Building 100 Innovation Center.

The Innovate in PA program will increase investment capital for emerging and early-stage technology enterprises. Led in our region, by Ben Franklin and the Greater Philadelphia Alliance for Capital and Technologies, Innovate in PA provides tax credits for insurance companies that can generate up to $100 million to address the seed capital needs of start-up companies and small businesses. These businesses will facilitate job growth, create new patents and products, and increase tax revenues for the Commonwealth. Governor Corbett was joined for the announcement by members of the legislature, representatives of Ben Franklin, BioAdvance, Greater Philadelphia Alliance for Capital and Technologies (PACT), and the Philadelphia Industrial Development Corporation (PIDC).

Governor Tom Corbett

“With new & growth businesses

continuing to drive job creation in

Pennsylvania, Innovate in PA is a

common-sense approach to

economic growth. Innovate in PA’s

investments will help forward-thinking

companies inspired with vision to

become household names, turning

Pennsylvania into the next

Silicon Valley.”

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October 18, 2013 - Innovate in PA Announcement

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EVENTS

Almanack Series: Early Stage Venture ShowcaseFebruary 14, 2013

Ben Franklin hosted its fifth annual

Early Stage Venture Showcase in

partnership with Emerald Stage2

Ventures. 12 Ben Franklin portfolio

companies presented to 60+ venture

capitalists and angel investors.

Shark Tank Company JudgingMay 4, 2013

Ben Franklin sponsored a regional

company casting call for the popular

ABC TV program Shark Tank, hosted

by NextFab Studio. 40+ regional

companies pitched to a panel of expert

judges, selected by Ben Franklin.

Venture impactTechnology investment in the Greater Philadelphia regionTrends and highlights, January 2008 to June 2013

PACT 2013 IMPACT Venture Summit & Venture ReportOctober 22, 2013

The Philadelphia Alliance for Capital and

Technologies (PACT) hosted the Mid-Atlantic

region’s biggest venture capital conference.

IMPACT highlights emerging markets, capital

resources, and innovation in the region. This

year RoseAnn B. Rosenthal, President & CEO

of Ben Franklin, co-presented the regional

Venture Impact Report, produced by Ben

Franklin, PACT and Ernst & Young. Analysis

of five and a half years of data showed an

impressive $4.1 billion of investment across

multiple sectors in Greater Philadelphia.

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On October 18th, InfraScan, Bioconnect Systems and other regional companies showcased their products for Governor Corbett at the Innovate in PA announcement event.

Regional companies included Optofluidics, Core Solutions, Chandler Bats, Brad’s Raw Chips, UgMO, AgileSwitch & Luxtech.

Bioconnect Systems Bioconnect Systems is pioneering novel surgical implants and techniques that form precisely controlled vascular connections. The Company’s initial products, the Optiflow™ and Optigraft™, are designed to improve vascular access in hemodialysis patients. Bioconnect was funded with $500,000 from Ben Franklin in 2011-2012, and also received funding from BioAdvance. In 2013, Bioconnect raised $9.1 million in a private stock sale.bioconnectsystems.com

InfraScanInfrascan’s portable device enables screening for intracranial bleeding following injury. In 2013, InfraScan received FDA approval for the device. It also received the 2013 Hiller Ignite Award that recognizes the company for creating the year’s most significant lifesaving innovation. Infrascan was also featured on the network show, Greys Anatomy. From 2006-2008 InfraScan was funded with $750,000 from Ben Franklin, and also received funding from BioAdvance.infrascanner.com

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Created by the Bucks County Retirement Board and Ben Franklin, VC4BC (Venture Capital For Bucks County) is a partnership to invest $4 million in emerging and growing companies, located in Bucks County.

Bucks County Commissioner Robert Loughery

“VC4BC is a public/private

co-investment partnership, where every

Bucks County pension dollar is matched

by Ben Franklin. The partnership is

part of our new Bucks2Invest initiative,

intended to create a one-stop shop

for economic development in

county government, while increasing

the amount of government assistance

for businesses.”

CAPITAL:

For information on VC4BC please visit sep.benfranklin.org/vc4bc.

January 24, 2014 - Venture Capital For Bucks County (VC4BC) Announcement

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VC4BC

CenTrakCenTrak, located in Bucks County, is a Real-Time Location System providing precise, versatile, and cost-effective location solutions for healthcare. In 2013, CenTrak became the exclusive tracking provider to HP Enterprise Services via a $543 million contract with the Department of Veterans Affairs. CenTrak also ranked as Deloitte’s 129th fastest growing company. Ben Franklin has invested $750,000 in CenTrak since 2006, which has grown from four to more than 30 employees. centrak.com

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PA LIFE SCIENCES CONNECTPA Life Sciences Connect is a regional partnership to capture displaced life sciences talent to create new or expand existing life science companies.

On January 14, 2014, PA Department of Community and Economic Development Deputy Secretary Carolyn Boser Newhouse; David A. Niles, President of the Montgomery County Economic Development Corporation; and RoseAnn B. Rosenthal, President & CEO of Ben Franklin, announced PA Life Sciences Connect at the Montgomery County Technology Center. Supported with $750,000 from DCED’s Discovered and Developed in PA (D2PA) program, PA Life Sciences Connect, led by Ben Franklin & MCEDC, and partnering with Pennsylvania BIO, i2n, Ashton Tweed, the PA Biotechnology Center of Bucks County, the University City Science Center, and other key life science partners.

January 14, 2014 - PA Life Sciences Connect Announcement

KNOWLEDGEBen Franklin’s Technology Commercialization Group connects creative enterprises to its 20+ member Technology Commercialization Network of regional research and development partners to get products to the marketplace faster.

The Technology Commercialization Group also partners with universities and industry to accelerate discoveries to the marketplace.

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Bucknell University

CITECH

Delaware Valley College

Drexel University

Fox Chase Cancer Center

Institute for Hepatitisand Virus Research

Lankenau Institute for Medical Research

LaSalle University

Lehigh University

Lincoln University

NextFab

Northampton Community College

Pennsylvania College of Technology

Pennsylvania State University

Philadelphia University

Rutgers University

Temple University

Thomas Jefferson University

University of Pennsylvania

University of the Sciences in Philadelphia

Villanova University

West Chester University

Widener University

The Wistar Institute

Technology Commercialization Network Members

Ceptaris TherapeuticsCeptaris received FDA approval for VALCHLOR™ in 2013, a gel formulation for the treatment of early-stage skin cancer. In August, Actelion agreed to buy Ceptaris for up to $250 million. Ben Franklin invested $250,000 in Ceptaris in 2005. The company is led by Steve Tullman, Chairman and CEO.ceptaris.com

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THE NANOTECHNOLOGY INSTITUTE™ & ENERGY COMMERCIALIZATION INSTITUTE

T H E

I N S T I T U T ENANOTECHNOLOGY

TM

ENERGY COMMERCIALIZATION

INSTITUTE

B

C**ORIGINAL**

NTI is the region’s first multi-institutional partnership created to accelerate nanotechnology commercialization and company formation. Ben Franklin, the University of Pennsylvania and Drexel University created the NTI in 2000 to coalesce the region’s efforts around nanotechnology. In 2009 they created the NTI’s sister organization, the ECI, to focus on emerging technologies in clean technology.

Today, the NTI and ECI have more than 1,000 Intellectual Property assets under management, have executed 100+ licenses, and have attracted more than $350 million in public and private investment to the region. In addition they have supported 50+ company spin-outs, including

Vascular Magnetics, Graphene Frontiers, Eqalix and Nelum. These companies are solving complex issues such as new drug delivery methods for cardiovascular disease, scaled graphene production, tissue engineering of wound patches and self-cleaning, moisture-proof surfaces.

Both Institutes are initiatives of the Pennsylvania Department of Community and Economic Development, and are funded by the Ben Franklin Technology Development Authority. nanotechinstitute.org

October 16, 2013 - Krishna P. Singh Center for Nanotechnology, University of Pennsylvania

The Nanotechnology Institute™ (NTI) and the Energy Commercialization Institute (ECI) awarded a total of $715K to ten university-based technology commercialization projects in 2013.

KNOWLEDGE:

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PHILLY ENTERPRISE HACKATHON

Developers were presented with real business problems facing enterprise companies and challenged to come up with a solution prototype within three weeks. Ben Franklin, working with our Delaware River Water Alliance, sponsored the Technology Infrastructure track for $25,000, where teams competed to develop a mobile app for FLOWatch, LLC, a Ben Franklin portfolio company that manages data for water utilities.

May 1, 2013 - Philly Enterprise Hackathon Event

With $75,000 in awards, Greater Philadelphia Alliance for Capital and Technologies (PACT)’s Philly Enterprise Hackathon was designed to foster collaboration between Philadelphia-area enterprise companies and the region’s burgeoning software development community.

FLOWatch®FLOWatch®, led by Dr. Bruno Levine, is a next generation data management system focused primarily on the water utility and environmental fields. Leveraging its extensive water utility and IT expertise, with over 100 years of combined experience, the company offers its clients cutting edge,

truly flexible and affordable solutions. Ben Franklin invested $250,000 in FLOWatch® in 2013. flowatch.com

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NETWORKSThirty years ago, Ben Franklin started seeding companies and partnerships in southeastern Pennsylvania’s emerging biotechnology industry.

Energy Efficient Buildings & Hub Commercialization CenterBen Franklin is a commercialization partner for the Energy Efficient Buildings Hub (EEB) in

The Navy Yard, funded with more than $100 million from the U.S. Department of Energy,

Economic Development Agency and other federal agencies. Ben Franklin operates the EEB Hub Commercialization Center (HCC), which houses and supports startup, growth and established

businesses focused on improving energy efficiency in new and retrofitted buildings.

eebhub.org/hcc

It became the region’s largest technology sector. Since then we’ve worked to translate our region’s IT, nanotechnology, energy, water and advanced manufacturing assets into platforms for regional growth, creating new opportunities to retain and attract talent.

commercialization center

Select Programs & Partnerships

Ben Franklin Navigator™Ben Franklin Navigator™ offers business mentoring, product commercialization, networking

and partnership opportunities. Navigator capitalizes on the global trend toward virtual

services. It is a unique program focused on providing additional acceleration services for

incubator portfolio companies, a value add to local incubators and accelerators. Navigator

was piloted through the Energy Efficient Buildings Hub in 2013.

NextFab Studio Advanced Manufacturing PartnershipBen Franklin and NextFab Studio announced a partnership

for rapid prototyping, utilizing advanced manufacturing

technologies. Ben Franklin provides matching funds for

regional companies that wish to utilize NextFab’s facilities

and services to develop prototypes for commercial products.

The partnership reduces the time and expense of prototype

construction through access to specialized facilities,

equipment and expertise required for design, simulation

and fabrication of products.

nextfabstudio.com

January 16, 2014 - NextFab Studio Partnership Event14

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PHILLY STARTUP SCHOLARS AND BEN FRANKLIN TALENT CONNECT

Ben Franklin and Campus Philly created the Philly StartUp Scholars student intern program, funded by the City of Philadelphia’s StartUp PHL program.

In 2013, Philly Startup Scholars provided ten students from area colleges and universities with real-world experience in some of the growing technology companies in Ben Franklin’s portfolio. At the same time, the companies benefited from the skills, energy and resources the students provided.

The Philly StartUp Scholars builds upon the successful Ben Franklin Talent Connect internship program, piloted with Swarthmore College in 2012 and 2013. Twelve students have interned at Ben Franklin and its portfolio companies, receiving an extensive entrepreneurial education.

b e n f r a n k l i n

July 30, 2013 - Philly Startup Scholars Luncheon

January 16, 2014 - NextFab Studio Partnership Event 15

KerathinFounded and led by Tom Fitzsimons, Kerathin is an FDA Registered Medical Manufacturer, focused on tools and treatments for foot conditions. In 2013, Kerathin took on a Technical and Engineering Support Intern through the Ben Franklin Talent Connect internship program. Since 2011, Ben Franklin has invested $350,000 in Kerathin. kerathin.com

Talent Connect Jobs BoardBen Franklin launched the Talent Connect Jobs Board, the best place to find job openings among our innovative client and alumni companies. Search, sort and apply today! sep.benfranklin.org/jobsboard

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Philly Tech WeekApril 26, 2013

Technically Philly, a growing media

company focused on Philadelphia’s

tech community, moved the focus of its

2013 Philly Tech Week to the Navy Yard.

On April 26th, Ben Franklin sponsored

the Entrepreneurship and Investment

session that drew over 200 attendees

and featured a panel discussion on the

State of Technology Entrepreneurship.

At the session, Ben Franklin presented

a video montage of some of its

IT clients, noting its long commitment

to the region’s IT community.

2013 Enterprise AwardsMay 9, 2013

Attracting more than 1,000 prominent

business leaders, the Enterprise Awards

black tie gala celebrates achievement,

innovation and success in the region’s

advanced technology and investment

community. Ben Franklin, an annual

sponsor of the awards, was pleased to

celebrate its 30th Anniversary.

Ten members of the Ben Franklin Family

were award winners or finalists, including

Holganix, InstaMed, CloudMine, Halfpenny

Technologies, Kerathin, The Neat Company,

OxiCool, Rajant, Vascular Magnetics and

Zonoff. RoseAnn B. Rosenthal, President

& CEO of Ben Franklin, presented the

award for Cleantech Company of the Year

to Holganix, a Ben Franklin client.

Pennsylvania Bio Annual DinnerMarch 13, 2013

The 2013 Pennsylvania Bio Annual

Dinner and Awards Celebration is the

premier event of the season for the

life sciences industry in our region.

It attracts nearly 1,000 guests from

throughout the industry. This year

Ben Franklin was honored to

highlight its 30th Anniversary.

EventsNETWORKS:

AWE Gala and Iris Newman AwardNovember 18, 2013

The Alliance of Women Entrepreneurs

(AWE) is the Mid-Atlantic region’s largest

organization dedicated to fostering

high-growth businesses founded or

led by women. RoseAnn B. Rosenthal,

President & CEO of Ben Franklin, was

presented the Iris Newman Award at the

2013 Gala for her outstanding support of

the entrepreneurial community.

IEDC Annual ConferenceOctober 7, 2013

The International Economic Development

Council (IEDC) is a non-profit membership

organization dedicated to economic

developers. The 2013 Annual Conference

was held in Philadelphia. RoseAnn

B. Rosenthal, President & CEO of Ben

Franklin, participated in two panels,

titled “Innovative Public/Private

Partnerships” and “Strengthening the

Entrepreneur and Startup Landscape.”

SBA Small Business and Government ConferenceSeptember 24, 2013

The US SBA organized a series of

conferences around the country

titled, “Small Business and Government:

Maximizing Entrepreneurship,

Driving Innovation.” Ben Franklin

managed the Philadelphia

conference, with 100+ attendees.

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BOARD OF DIRECTORS*

Michael AronsonManaging DirectorMentorTech Ventures

Thomas M. BalderstonPresidentBalderston Capital, LLC

Joseph Bordogna, Ph.D.Professor and Dean EmeritusSchool of Engineering and Applied ScienceUniversity of Pennsylvania &(Former) Deputy Director & Chief Operating Officer, NSF

Alan J. CohnBFTP/SEP Treasurer & Finance Committee ChairCo-Founder & Co-PresidentSage Financial Group

Michael F. ColaCEOMedgenics

Richard S. EgosiGroup Executive Vice President, Chief Legal Officer & Company Secretary Teva Pharmaceuticals

Janice GianniniExecutive PartnerParadigm Associates

Michael J. HellerBFTP/SEP Corporate Secretary & Governance Committee ChairPresident & CEOCozen O’Connor

Osagie O. Imasogie, Esq.Senior Managing Partner,Phoenix IP Ventures & Chair, Iroko Pharmaceuticals

Kef KasdinGeneral PartnerBattelle Ventures & Innovation Valley Partners

Anil (Bob) KothariBFTP/SEP Corporate Development Committee ChairSenior Vice PresidentProcurian

Kenneth G. Lawrence(Former) Chairman PECO Energy Company

John A. LoftusManaging Director ICG Group

Ami MironPresidentA.M. Partners

Bob MoulCEOArtisan Mobile

Charles P. Pizzi(Former) CEO & PresidentTasty Baking Company

Sashi ReddiManaging PartnerSRI Capital

Matthew Rieke, M.D.PartnerQuaker Partners

Charles M. RobinsBFTP/SEP Vice Chair Managing DirectorFairmount Partners, Inc.

RoseAnn B. RosenthalBFTP/SEP President & CEO

Anthony M. Santomero, Ph.D.(Former) PresidentFederal Reserve Bank of Philadelphia

Timothy C. SchevePresident & CEOJanney Montgomery Scott, LLC

Stanley W. SilvermanBFTP/SEP Audit Committee ChairVice ChairDrexel University Board of Trustees

Stephen T. ZarrilliBFTP/SEP Chair President & CEOSafeguard Scientifics, Inc.

Ben Franklin Chair’s Leadership Council

Walter D’AlessioVice ChairmanNorthMarq Advisors, Inc.

Brenda D. Gavin, D.V.MFounding PartnerQuaker Partners

Robert E. Keith, JrCEO, Managing Director & PresidentTL Ventures

Josh KopelmanPartnerFirst Round Capital

Bruce TollCo-Founder & Vice ChairmanToll Brothers, Inc.

Corporate Development Committee Volunteers

Steve Andriole Thomas G. Labrecque Professor Department of Decision & Information TechnologiesVillanova University

Thomas GordonManaging DirectorSilicon Valley Bank

Scott OpitzPresidentAltosoft, A Kofax Company

Mindy PosoffManaging DirectorGolden Seeds, LLC

*January 2014

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STAFF*

RoseAnn B. RosenthalPresident & CEO

Adare McMillan, CPACAO & Assistant Treasurer

Terrence H. HicksVice PresidentInvestment Group & Assistant Secretary

Anthony P. Green, Ph.D.Vice PresidentTechnology Commercialization

Senior Management

Jason G. HeritageGraphic Design & Marketing Coordinator

Marketing & Communications

Jim GambinoSenior Advisor

Mark TrabboldDirector of Business Development

Khalilah Mangum-ParhamProgram Administrator

James LairdIndependent Consultant

Bob GreutzmacherIndependent Consultant

Technology Commercialization Group

Alan R. KrausDirector of InvestmentsInformation Technology

Jennifer H. HarttDirector of InvestmentsLife Sciences

Mark deGrandpre, Ph.D.Director of InvestmentsPhysical Sciences

Omar Mencin, DBADirector of Special Projects

Gloria SanchiousProject Coordinator

Yvette MoodyAssociate

Investment Group

David L. Cohen, AICPSenior Manager

Paul KarosasDatabase Analyst

Frederic J. StrawbridgeResearch Analyst

Program Analysis & Development

*January 2014

Frank Celona, CPAController

Thomas DelGuercioDirector Information Services

Richard C. WellsSenior Manager Human Resources & Operations

Cynthia BanaszakAssistant Controller

Dorthea ChrupcalaExecutive Assistant to the President & CEO

Stacy HalasaSenior Grant & Contract Administrator

Anthony LisacchiStaff Accountant

Tristan LySenior Portfolio Analyst

Elaine FultonReceptionist & Operations Assistant

AnnMarie RutherfordOffice & Human Resources Assistant

Administrative Services Group

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ADVISORY COMMITTEES*

Jeffrey P. Bodle, Esq.Glen R. BressnerRichard Cohen, Esq.Joe FalkenstienKaren Griffith-GrygaLarry HollinBoris M. KalandarMichael KaneKevin KemmererMichael A. KopelmanDave KurtzVincenzo La RuffaSherry Olin LemonickNathaniel LentzShoshana K Loeb, Ph.D.Bruce Luehrs

Daniel McKinneyPercy NikoraScott NissenbaumDavid Noteware, EsqKatherine O’NeillDouglas R. PetilloMindy PosoffErik B. RasmussenSaul RichterEdward F. Sager, Jr.Elizabeth Sigety, EsqJeffrey SnellenburgRichard VagueRaymond Walheim, Esq.Darren WallisEd Zabar

Nat Brinn, CFAMing FangEzra FelkerScott FishmanPaul Karl Horan, Ph.D.Elaine Jones, Ph.D.Hyman R. Kahn, M.D.Frank Lexa, M.D.

Sandy Matalonis, MBAChristopher Miller, Esq.John MoranThomas A. OlenzakGregory J. Rice, Esq.Catherine Angell SohnDavid TwerskyTracy Warren

Christopher CeraCraig E. ConwayGrant DavisDavid FamolariAllan FrankRichard GallagherRichard GenzerMike GoetterThomas F. Goldman, Esq.

David L. HousemanMunir Mandviwalla, Ph.D.Steven P. MelickRobert A. Pressman, Esq.Justin Yuan Shi, Ph.D.Aron Starosta, Ph.D.Thomas J. UngerPaul Weinberg, Ph.D.

IT Investment Advisory CommitteesInvestment

Investment

Technology

Technology

Technology

Life Sciences Investment Advisory Committees

Margie BeardStanley B. DissonMartin E. Gilligan, Jr.Pamela HicksKarl M. KrausClifford M. LavinLarissa MilneJoseph F. (Jef ) Morrow, Jr.

Bill RingleEric S. SiegelRobert SolomonAron Starosta, Ph.D.Harry TankinEllen ThompsonDr. Jean K. WilcoxMichele A. Zujkowski

Kip AnthonyAlain F. Bouruet AubertotTama CopemanHal CraigThomas P. Dwyer, Esq.Steve N. EconomouThomas EdwardsHanan FishmanPat J. Foley, Jr., Ph.D.Glen D. Gaddy, Ph.D.Andrew Hamilton, Esq.Scott HerrinRichard N. HudockArthur L. HudsonStephen J. KellyEdward E. Liebert

Steven L. LudmererDavid Malloy, Ph.D.William B. MooreMichael MurphyJames MurdockKevin O’SullivanAnthony B. ParisiDavid OppenheimerLouis M. RappaportRobert F. Small, CPASteven SpivakSteve TalisDan WishnickJack S. WisniewskiBrian C. Yerger, CFA

Physical Sciences Investment Advisory Committees

Marc Besser, Ph.D.Daryl S. Boudreaux, Ph.D.Tama CopemanDouglas D. HackettArthur L. HudsonPatrick C. Joyce, Ph.D.William Kane, Ph.D.Karl M. Kraus

Amir Metry, Ph.D.Kris Radhakrishnan, Ph.D.William A. RobertsBrett RosenJorge Santiago, Ph.D.Pritpal Singh, Ph.D.Daniele S. TedescoSom Tyagi, Ph.D.

Due Diligence Reviewers & Portfolio Managers

Bill Bosch, Ph.D.Melisa Cooper, MD MSGreg DiRusso, M.D.George DytkoCarolyn L. Kong, Pharm DJeff Martini, Ph.D.Robert B. McGrath, Ph.D.Banu Onaral, Ph.D.Ruth E. Perry, M.D.A. Sami Saribas, Ph.D.

Philip Sass, Ph.D.Allan Shatzman, Ph.D.S. Anne Shehab, Ph.D.Paul M. Simon, Ph.D.Elliot Sloane, Ph.D.Catherine Angell Sohn, Pharm.D. CLPEric SugalskiGretchen L. Temeles, Ph.D.Margaret A. Wheatley, Ph.D.

*January 2014

Investment

20

REGIONAL OFFICESBucks County Economic Development Corporation2 East Court StreetDoylestown, PA 18901

Chester County Economic Development Council737 Constitution DriveExton, PA 19341

Montgomery County Industrial Development Corporation420 West Germantown PikeEast Norriton, PA 19403

University Technology Park1350 Edgemont AvenueChester, PA 19013

The 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.

Bucks

Montgomery

ChesterDelawareDelaware

Ben Franklin Technology Partners of Southeastern PennsylvaniaBuilding 100 Innovation Center4801 S. Broad Street, Suite 200The Navy YardPhiladelphia, PA 19112T: 215-972-6700 F: 215-972-5588

W W W. S E P. B E N F R A N K L I N . O R G

Angel Venture Fair (AVF)

BioAdvance

Blank Rome

Bridge Business Center

Bucks County Industrial Development Corporation

China Partnership of Greater Philadelphia

City of Philadelphia

Cleantech Alliance Mid-Atlantic (CAMA)

Delaware Crossing Investor Group

Delaware Valley Regional Planning Commission (DVRPC)

DVIRC

Early Stage East

Economy League of Greater Philadelphia

Edison Ventures

Executive Leaders Radio (ELR)

Federal Reserve Bank of Philadelphia

Gabriel Investments

Greater Philadelphia Alliance for Capital and Technologies (PACT)

Greater Philadelphia Chamber of Commerce (GPCC)

Greater Philadelphia Science, Technology, Engineering and Mathematics (STEM)

I2N

Interstate General Media (IGM)

Innovation Partnership (IPart)

John S. and James L. Knight Foundation

Mentortech Ventures

Mid-Atlantic Angel Group (MAG)

Mid-Atlantic Diamond Ventures (MADV)

Minority Angel Investor Network

National Additive Manufacturing Innovation Institute (NAMII)

National Advisory Council on Innovation & Entrepreneurship (NACIE)

National Nanotechnology Initiative (NNI)

Naval Sea Systems Command (NAVSEA)

Network for Teaching Entrepreneurship (NFTE)

Nextstage Capital

Novotorium

Osage Partners

PA Department of Community & Economic Development (DCED)

Pennsylvania Bio

Pennsylvania Biotechnology Center of Bucks County

Philadelphia Industrial Development Corporation (PIDC)

Philadelphia University

Philly Startup Leaders (PSL)

Regional Affinity Incubation Network (RAIN)

Regional Innovation Acceleration Network (RIAN)

Robinhood Ventures

Safeguard Scientifics

Seed Philly

Select Greater Philadelphia

Startup Pennsylvania

Swarthmore College

Temple University

Technically Philly

University City Science Center

Venturef0rth

WHYY

Woodcock Washburn

World Trade Center of Greater Philadelphia (WTCGP)

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