The StartupPHL Fund is an effort by the City of Philadelphia and the Philadelphia Industrial Development Corporation (PIDC) to increase the availability of investment capital for Philadelphia-based startups.
PIDC has partnered with Ben Franklin Technology Partners, a leading seed stage capital provider for the region’s technology sector, to manage StartupPHL Seed Fund II.
Fund II launched with $3.5 million of initial capital from PIDC ($1.75M) and Ben Franklin ($1.75M). PIDC and Ben Franklin are currently exploring opportunities with additional investors to reach a target of $5 million. Seed Fund II will target investments averaging $150,000-$200,000 in seed and early-stage technology companies in Philadelphia.
Applicants are required to be a Philadelphia-based, early-stage technology business.
Startups and entrepreneurs interested in applying should initiate discussions directly with Ben Franklin Technology Partners. Learn more at www.sep.benfranklin.org or attend one of the regular Meet Ben events throughout the region.