November 19, 2015 | Drexel Now
A number of developments in University City’s startup ecosystem are aligning—all to the benefit of Philadelphia’s burgeoning community of entrepreneurs. Drexel University and Ben Franklin Technology Partners of Southeastern Pennsylvania are teaming up to create a $10 million early stage seed fund that will support spin-off companies from the University. Concurrent with the launch of the new fund, Ben Franklin will join Drexel and University City Science Center’s efforts to strengthen the offerings for members at the Innovation Center @3401 (ic@3401). And the technology and healthcare growth capital provider, Safeguard Scientifics, is also joining ic@3401 in a high-level capacity.
“Ben Franklin has a strong track record of seeding and growing successful companies,” said Ben Franklin President and CEO, RoseAnn B. Rosenthal. “Linking our capabilities with Drexel and the ic@3401 community gives entrepreneurs fantastic new opportunities to leverage each organization’s unique assets, while strengthening the region’s robust engine for innovation.”