Editor's note: More and more, entrepreneurs are finding financial and intellectual help for their startups through accelerator or incubator programs. Portfolio.com will be breaking down these programs to help startup founders pick the right program.

What: Ben Franklin Technology Ventures

Where: 125 Goodman Drive, Bethlehem, PA 18015-3715

610-758-5200

800-445-9515

When: There's no set time for a company founder to apply for funding or a lease.

Who: Startups and entrepreneurs looking for early-stage funding, mentorship, and the opportunity to work with other new companies. You must be located in Pennsylvania or have plans for a significant portion of your operation to be in Pennsylvania.

Why: To gain access to other entrepreneurs, to receive mentorship and money, and to get the opportunity to pitch venture capitalists.

How: To learn about the application process, go to the website, or e-mail info@nep.benfranklin.org.

Don’t put Ben Franklin Technology Partners in the same bucket as 500 Startups, TechStars or YCombinator, even if it is in basically the same business of providing space, funding and mentorship to startup entrepreneurs.

Here’s how Ben Franklin is different.

First, the incubator that provides space and funding to promising startups is as much an economic development engine for its region, northeastern Pennsylvania, as it is an investment powerhouse—a la Y Combinator. It’s original funding came from the state, and its mission in supporting startups is to create jobs as a result of the companies that grow in its hothouse.

Second, unlike most of the prominent incubators and accelerators going today that have sprung to life within the past 10 years, in trendier locations like San Francisco or Boulder, Colorado, Ben Franklin has been around for 23 years. It's primary location? An old Bethlehem Steel facility on the campus of Lehigh University.

In that time, Ben Franklin has supported a wide range of technology companies, from artificial intelligence research companies like Discovery Machine to companies working in biotechnology and chemistry like Saladax Biomedical, a firm that develops biologic assays, and which takes advantage of the old Bethlehem Steel wet laboratory facilities the incubator has on its campus.

The incubator offers some level of funding to ventures that go through a screening process, which involves submitting their plans to Wayne Barz, manager of entrepreneurial services at the incubator, who then runs those plans by a panel of advisors before finally approving either funding, or allowing companies to use office or laboratory space, or both.

Leases for space generally run for a year, though one has gone as long as five years at the facility. A lease costs $18 per square foot for lab space with phone and Internet, or $6,000 for the year. Companies can also vie for an investment from Ben Franklin of up to $100,000.

The process of just getting that space or funding can take as long as six months.

Ben Franklin touts a pretty impressive roster of achievements in its time. It has spawned 420 companies which have developed 1,017 new products and created 14,922 jobs, and generated $9.3 billion for the Pennsylvania economy. Among the companies funded are Ciclon, a semiconductor firm that was sold to Texas Instruments. It’s been successful enough that Ben Franklin is expanding campus to accommodate Ciclon, now called Texas Instruments Lehigh Valley.

Ben Franklin was recently recognized by Inc. Magazine as one of the nation's top 10 incubators.

One thing Barz and his colleagues have in common with other incubators is they’re often dealing with dreamers and inventors who are counting on outside investors to whip them into business shape.

“Typically it’s the first venture of the founders, there’s two of them, there’s no other investor, more often than not their pre-revenue and pre-baked business plan,” Barz said. “I become the first stranger to tell these guys, ‘Hey, I like this.’”

And, also like an angel investor, venture capitalist or private incubator leader, a big part of the job for the staff is putting company founders in touch with the investors who can help them grow their idea.

Conversely, he’s also sometimes the guy who tells founders that their idea is not destined to become a great business.

“Incubator managers should probably have a clinical psychology degree,” Barz said. “My job is to help keep them on track.”

That observation holds true whether the incubator is publicly supported like Bethlehem or a private venture. And as with privately-run incubators, it isn’t easy for companies to even get into Ben Franklin’s programs to begin with.

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Kent Bernhard Jr. is News Editor of Portfolio.com