Montgomery County's investment in local innovation has just received a $500,000 boost. In a recent announcement, the Montgomery County Industrial Development Authority (MCIDA) committed an additional $500,000 to the Montco Made Investment Initiative, a collaboration with Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) aimed at fueling emerging and growing companies in Montgomery County. This new injection of funds raises MCIDA's total investment to a solid $1.5 million since the program's inception.
This partnership, which began in 2018, has enabled Ben Franklin to leverage its expertise in identifying suitable companies for funding quickly. By choosing to expand this investment once again, MCIDA aims to continue strengthening the local economic fabric through the creation of high-tech and clean manufacturing jobs. The Montco Made program has already witnessed palpable success, with companies like WealthHub, SFA Therapeutics, and Mitochon benefiting from the initial investment rounds.
Jason Salus, Chair of the MCIDA, underscored the partnership's achievements and its significance for the region’s future: "Ben Franklin has long been a tremendous supporter of companies in Montgomery County that are committed to innovation, and this partnership takes that to the next level," according to an Montgomery County's official statement. "We now have the resources to grow companies in Montgomery County and to create jobs in hi-tech and clean manufacturing, which is important for the continued growth of our local economy."
