Pennsylvania’s state-backed early-stage capital provider for tech startups says it’s hurting.

Since 2008, Ben Franklin Technology Partners (BFTP) has lost around half of its previous state funding due to budget cuts, from $28 million to $14.5 million per year. That breaks down to about $3.5 million for each of its four centers across the state, including Ben Franklin Technology Partners of Southeastern Pennsylvania in the Navy Yard.

During that time, the 35-year-old nonprofit has been able to supplement its budget from the likes of the state’s Alternative Energy Development Program initiative, from 2010 to 2013, and the Innovate in PA initiative, from 2016 to 2018, according to comms VP Jason Bannon.

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