Area Startups Receive Grant Funding from Penn Community Bank, Investments from IDA

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boxed treats
Image via Dr. Brownies.
One of the startups gaining a sweet sign of support from Penn Community Bank grant was Dr. Brownies.

Five high-potential, early-stage startups have been selected to receive a total of $125,000 in investment funded by the Bucks County Industrial Development Authority (IDA) along with 12 months of advisory support from Startup Bucks. New this round, seven additional applicants were awarded a total of $30,000 in business grants sponsored by Penn Community Bank.

The five startups that received $25,000 investments from the Bucks County IDA span various industries and have founders or teams already based or operating in Bucks County:

  • AccuTennis: Using computer vision to monetize data for racquet sports
  • BioVeras: Collection and verification of clinical trial data utilizing blockchain for quicker launch of life-saving treatments
  • Saint Rocco’s Treats: Fostering transparency in the dog treats and food industry
  • THRIVV: Science-based company focused on hair growth and post procedure skincare
  • Xenoil: Mitigating carbon footprint by re-manufacturing plastics for 3D printing

“In only the second year of the Bucks Built Startup Fund, we are already seeing the impact these investments are having to the growth of the startup community within Bucks County. We hope that through continued funding and support in this innovative program, Bucks County will become the premier destination for new and cutting-edge startups to call their home,” said Stephen Marzullo, Chairman, Board of Directors for the IDA.

Area startups receiving grants up to $5,000 from Penn Community Bank include:

  • AWSM Sauce: Sustainable sauce and condiments
  • Dr. Brownies: First-of-its-kind ready-to-bake, plant-based brownie batter
  • Eternally: Health tech company supporting end of life planning with Telehealth
  • Forge: Contact manager that helps sales professionals increase conversions by building genuine trust with clients
  • Measure Studio: Helping publishers and content creators deploy a data driven content strategy by providing AI powered social media analytics
  • Sage SEO: Smart SEO tools for small businesses and startups to write, publish, and measure their content marketing strategies
  • Vital Start: Treatment of perinatal mood and anxiety disorders using virtual reality

“Penn Community Bank is proud to partner with Startup Bucks and the Bucks County Industrial Development Authority to help area businesses and innovators succeed. We understand that a thriving local business community means economic success for individuals, families, and the region for years to come,” said Jeane M. Vidoni, Penn Community Bank president and CEO.

Originally screened from over 100 applicants, 10 finalists pitched to a screening panel of investors, entrepreneurs, and community leaders who evaluated the businesses on several factors, including the potential to grow quickly and broadly while having a positive economic impact in the County. The ten startups from the earlier two Bucks Built cohorts have already made impressive progress with all demonstrating growth, four receiving new investment commitments from Ben Franklin Technology Partners, and two having been accepted to TechStars Accelerators.   

Later this year, the Bucks Built Startup fund will deploy another $125,000 in investment from the Bucks County IDA along with an additional $20,000 in grants sponsored by Penn Community Bank. Early interest applications can be submitted by startups throughout the year.

Keep up to date with local startup news by subscribing to updates from Startup Bucks and connect with the Bucks County startup community every Wednesday at 9:00 a.m. on Zoom during Startup Buck’s weekly entrepreneur forum, Founder’s 30, powered by Penn Community Bank.

More information on program details and criteria is online.

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