Shapiro Administration investing in tech companies to spur Pa. economy, workforce

Pennsylvania Department of Community and Economic Development (DCED) Secretary Rick Siger said investments in high-growth, innovative industries help Pennsylvania compete in the global economy. PHOTO/PACAST

by Ed Gruver | January 29, 2024

Reposted from the Central Penn Business Journal

Two venture capital firms have been awarded a combined total of $3 million to make investments in Pennsylvania-based early-stage technology companies.

The announcement was made by Department of Community and Economic Development Secretary Rick Siger. Funding was awarded through the Ben Franklin Technology Development Authority (BFTDA) and is aimed at advancing the competitiveness of Pennsylvania’s companies and universities.