When someone does you a favor, you pay them back and in SilcoTek's case you pay it forward. When SilcoTek® was formed in 2009, Ben Franklin Technology Partners helped us grow by investing in our technology. Now that we're running on all cylinders, we're able to pay back Ben Franklin early. That helps Ben Franklin Technology Partners, by giving back capital to invest in more startups.
The Keystone Edge quoted our founder Paul Silvis, noting:
"During the early days of the company, it was Ben Franklin’s funding that kept us afloat," recalls Silvis. "We knew that SilcoTek would grow tremendously, but that it would take time. Ben Franklin’s investment bought us that time."
Ben Franklin Technology Partners CEO commented about our future by saying:
Today, with customers that include refineries, petro-chemical plants, and industrial, aerospace, and automotive manufacturers, SilcoTek is in the position of being able to pay off its remaining debt to Ben Franklin early. That money, a little more than $300,000, will be re-invested in three more startups located in Ben Franklin’s footprint. Stephen Brawley, Ben Franklin’s CEO, commented, “In 2014 alone, right after moving into a new facility, SilcoTek introduced two new coatings and filed nine patents – so, I have no doubt that they are on target with their goals for 2020. Paul Silvis and his team are to be congratulated for their vision, energy, and their ability to turn a startup, in six short years, into an award winning company that now employs 40 people."
All we can say is thanks Ben!
