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  • About
    • About the Center >
      • The Next Generation of Shale Gas
    • Our Team
    • SGICC News / Press Releases
  • Partners & Advisors
    • Institutional Partners
    • Research Partners
  • Funding Opportunities
    • 2017 Shale Gas Innovation Contest
    • Technology Showcase 2017
    • DCED Grant Award >
      • DCED Grant White Papers
      • Grant Award Announcement Doc
    • Funding through the BFTP Program
    • Archived Contests >
      • 2016 Shale Gas Innovation Contest
      • Technology Showcase 2015
      • 2015 Shale Gas Innovation Contest >
        • 2015 Innovation Contest & Workshop
      • 2014 DCED Grant Summary & Results
      • 2014 Innovation Contest
      • 2013 Innovation Contest
      • 2012 Innovation Contest Results
      • 2011 Innovation Workshop Presentations
      • SGICC Annual Environmental Health & Safety Award
  • Research & Reports
  • Our Newsletter

Ben Franklin’s SGICC Releases Study on Technology Adoption in the Shale Industry

9/3/2015

 
STATE COLLEGE, Pa.--(BUSINESS WIRE)--Amid a challenging business environment for the region’s oil and gas industry, the services offered by the Shale Gas Innovation & Commercialization Center (www.sgicc.org) have become even more critical. Using funds provided by the Pennsylvania Department of Community & Economic Development (PA DCED), SGICC commissioned a study on the evolving relationship between Pennsylvania-based entrepreneurs and the companies they serve in the industry. Go to http://www.sgicc.org/dced-grant-white-papers.html to access the report.

“This report has helped our future planning by validating the things we are doing well and highlighting the areas where we can continuously improve our services.”

Given the historically low commodities prices, Pennsylvania-based companies are facing new challenges when introducing a new product or service into the upstream markets. This dynamic makes organizations with missions such as the SGICC even more critical, and challenges entrepreneurs to look for more diversified applications of their technologies – ideally resulting in stronger long-term viability. Bill Hall, SGICC Director commented, “This report has helped our future planning by validating the things we are doing well and highlighting the areas where we can continuously improve our services.”

The report identified things that innovating companies need to do:

  • Clearly define their value proposition
  • Devote the necessary resources and time to marketing and selling
  • Diversify their customer base
  • Stay current on customers and industry needs
The study’s author, Kathryn Klaber commented, “In the last decade, our region has experienced first-hand a rapid expansion and contraction of the natural gas industry. The supply chain companies that are built on a strong business model and have diversified their products and services are poised to benefit from the eventual rebound. Given the cyclical nature of the industry, SGICC is an ideal, stable partner for Pennsylvania innovators as they develop products and services that have strong value propositions that will serve their industry customers for decades to come.”

The Ben Franklin Shale Gas Innovation and Commercialization Center (www.sgicc.org), an initiative of Ben Franklin Technology Partners/CNP (http://www.cnp.benfranklin.org) is designed to harness innovation and new technologies as a means to maximize the economic return to Pennsylvania’s citizens from the various shale formations comprise part of the energy reserves of the Commonwealth. The Center also identifies, supports and helps commercialize technologies and early-stage businesses that enhance responsible stewardship of the environment while properly utilizing this transformative energy asset.

ContactsShale Gas Innovation & Commercialization Center (SGICC)
Bill Hall, 814-863-4881
Executive Director
billhall@psu.edu

Original Source: http://www.businesswire.com/news/home/20150903005128/en/Ben-Franklin%E2%80%99s-SGICC-Releases-Study-Technology-Adoption#.VhSc6BNVhBd



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About ben franklin technology partners

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Ben Franklin Technology Partners/CNP, an initiative of the Pennsylvania Department of Community and Economic Development and funded by the Ben Franklin Technology Development Authority, provides investment capital, operational assistance, and entrepreneurial support to emerging tech-based companies and small, existing manufacturers for the purpose of creating and retaining jobs in Pennsylvania.

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William Hall, Executive Director
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(814) 863-4881
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