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Convertible note investments and research grants for PA tech startups and manufacturers.
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Sign in to save this grantBen Franklin CNP has made 254 verified investments across its 32-county service area[5], but the main track here is not a grant. It is convertible debt or straight debt with a 1:1 match requirement[1], which means you need outside capital or documented in-kind contributions before Ben Franklin commits. Understanding that upfront saves weeks of preparation aimed at the wrong door.
The program runs three distinct capital paths: the main investment fund for tech startups and small manufacturers, the Manufacturing PA Innovation Program that pairs university faculty with industry partners, and periodic BIG IDEA pitch competitions. Your county location determines which regional office handles your case[2], and your business type determines which track fits.
Not sure which track applies to your business? Use the eligibility tool below to check your county and business type. It will not make the decision for you, but it will cut the confusion before you read further.
Most online sources cover Ben Franklin generically across all four PA regions, which makes it hard to know what specifically applies to Central and Northern PA. The table below gives you the essential comparison. The sections that follow go deeper on the tracks most likely to apply to your situation.
This is the track that drives most of the Ben Franklin reputation. The CNP office provides convertible debt or straight-debt investments[1] that carry repayment terms and potential equity conversion. Up to $500k is available for tech startups; up to $250k for small manufacturers innovating in their sector. Early-stage awards in the region have landed between $50k and $75k in documented cases[5], which typically covers the gap between a prototype and a first commercial product.
The entry point is a public inquiry form on the CNP funding page, not a formal application portal. After submission, a regional representative schedules a first meeting. If the fit looks right, you present to the investment committee, go through due diligence, and negotiate terms. Budget 3 to 6 months from that first meeting to actual disbursement. The committee meets quarterly, but exact dates are not published anywhere. You get them only after your inquiry is reviewed and a meeting is scheduled.
Matching funds are required at a 1:1 ratio. Allowable uses include product development, hiring, software and prototype development, beta testing, and sales and marketing. The fund will not pay for land, buildings, machinery purchases, or inventory. Convertible note interest rates have historically been around 8 percent, but confirm the current rate when you speak with your regional representative.
This is the only true grant in the Ben Franklin CNP portfolio, but it does not work the way most manufacturers expect. The DCED program page lists Carnegie Mellon as the primary applicant, which leads many manufacturers to assume they apply directly. That reading is wrong. CMU serves as the administrative fiscal agent. The actual lead applicant must be a faculty Principal Investigator at one of these seven eligible universities:
Penn State University Carnegie Mellon University University of Pittsburgh Drexel University Lehigh University Temple University University of Pennsylvania
Required Steps
The manufacturer is the essential industry partner, not the filer. Your practical job is finding a faculty PI willing to co-develop the research proposal and then providing matching contributions in cash or staff time. The 2025-2026 cycle closed on January 20, 2026[3] with award notices expected by April 15, 2026. The next cycle is expected to open in fall 2026. Project grants range from $25k to $70k from an available pool of approximately $2.835M. Identifying your university partner before the next RFP opens is the critical preparation step, not the application itself.
If your company is early-stage and you are comfortable presenting live, the BIG IDEA contest is the lowest-barrier entry point in the CNP ecosystem. No matching funds required. The 2025 AgeTech cycle awarded up to $35k total in cash prizes[4], plus a People’s Choice award. Contests are themed by sector and run periodically, not on a fixed annual schedule. The 2025 cycle has concluded. Watch the Ben Franklin CNP BIG IDEA page for 2026 cycle announcements, as they are not always released months in advance.
If your business is in Erie County, a separate $500k fund exists through a partnership with Erie Insurance. The structure is investment-based and mirrors the main fund’s approach rather than a grant. If you are in Erie County, contact the regional office directly to confirm current availability and any Erie-specific terms.
Ben Franklin CNP has made 254 verified investments over its history. The program has been operating since 1983 and is part of a statewide network that has supported more than 4,500 companies. These numbers signal institutional staying power but they do not change what you will need for your own application.
These are the most common reasons an application stalls or fails outright. Check these before you invest time in any track.
Things to Avoid
Do’s
Don’ts
The main fund’s quarterly committee dates are not published publicly. You will not find them on the website. You receive them only after the inquiry form review, which means you cannot back-plan from a posted deadline. Build your timeline around the 3-to-6-month process window, not around a calendar date.
The main fund is the most complex track to navigate because it functions like an investor relationship, not a grant cycle. Here is the realistic sequence:
Process Steps
1
Submit the public inquiry form at the CNP funding page
2
Receive a call or email from a regional representative to discuss initial fit
3
Prepare a detailed business summary and pro-forma financial projections
4
Present your case to the investment committee during the next quarterly cycle
5
Complete due diligence and negotiate note terms with the CNP team
6
Receive disbursement typically within 3-6 months of your first meeting
Estimated preparation time is around 20 hours across all tracks. The documentation burden is real: business summaries, capital plans, and financial projections need to hold up under professional scrutiny. For Manufacturing PA, add a technical research proposal, a formal budget in the CMU InfoReady portal format, and a signed industry partner letter. For the BIG IDEA contest, preparation is lighter but still requires a polished pitch deck and live presentation readiness.
If you are approaching the main fund, build your financial projections before your first meeting with the regional representative, not after. The inquiry call is partly an informal fit screen. Walking in with draft projections signals seriousness and often accelerates the timeline to committee presentation.
Expert Tip
If you receive money from the main investment fund, yes. The structure is convertible debt or straight debt, which means repayment with interest and, in some cases, equity conversion tied to a future financing round. Manufacturing PA project grants and BIG IDEA contest prizes do not require repayment.
No. A university faculty member must lead the application as the Principal Investigator. The manufacturer is the required industry partner. Your role is to co-develop the research scope, provide matching contributions, and commit to implementing the research outcomes in your operations.
No. Ben Franklin Technology Partners operates as four separate regional organizations. CNP covers 32 counties in central and northern Pennsylvania. If your business is in Philadelphia, the Lehigh Valley, or western PA, you need to work with those specific regional offices, not CNP.
Matching is typically required at a 1:1 ratio. Acceptable forms include private investment, bank loans, and in certain cases in-kind contributions such as staff time or facility use. The intent is to show that other parties with genuine financial stakes are also backing the project.
For the main investment fund, plan for 3 to 6 months from your first meeting to disbursement. This is not a fast-turnaround program. The quarterly committee cycle, due diligence phase, and term negotiation all take time. The sooner you submit the inquiry form, the sooner the clock starts.
The 2025-2026 cycle closed on January 20, 2026, with award notices expected by April 15, 2026[3]. The next RFP cycle is expected in fall 2026 based on the confirmed annual cadence. If you are a manufacturer, the time to identify and approach a university faculty partner is now, before the window opens.
Each track on this page carries a different kind of complexity. The main fund requires investor-grade projections and a narrative that holds up under committee scrutiny. Manufacturing PA requires navigating the university research system to lock in a faculty partner before the RFP opens. The BIG IDEA contest requires a pitch that competes live. None of these are fill-in-the-blank exercises.
The Grantaura team can help you audit your match documentation, structure your investment narrative for the CNP committee, or map your university outreach strategy before the next Manufacturing PA cycle. If you are not yet sure which track fits, that’s the right starting question too.
or schedule a 1-on-1 call with a grant expert to identify your track and assess your readiness before the next cycle opens.
Not eligible for Ben Franklin CNP? Browse the full Grantaura grant directory to find programs that match your sector, region, and stage.
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