Enterprise Software Firm, Northpoint, Launches Center City Office

July 19, 2013 | Technically Philly by Christopher Wink

NorthPoint, the New York-based enterprise software company that specializes in the financial and digital sector, opened a Center City office last month in One Liberty.

To start, the office, which is the company’s third after Boston, will be a one-woman band. Debra Loggia (@debloggia) will be running the expansion with her sales and healthcare background. As she told Technically Philly recently on a breezy afternoon in University City earlier this month, she was most recently leading digital marketing at Thomas Jefferson Hospital, where she also had done her masters work in health policy.

That background may be one of her best assets for NorthPoint, which is widening its reach and the pharma, life sciences, hospital and other medical businesses that dot this region are in strong alignment.

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With ‘boot camp,’ TechGirlz seeks to build future startup leaders

July 16, 2013 | Newsworks By Zack Seward

Just 3 percent of tech startups are launched by women. That stat motivates TechGirlz, a Philadelphia-based nonprofit that aims to upend current statistics by getting a really early start. That’s why 19 girls, ages 11 to 15, spent last week in a tech entrepreneurship “boot camp.” “At the end of the day, what we are trying to show them is the possibilities of what they can do,” said TechGirlz founder Tracey Welson-Rossman.

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Mayor Michael Nutter cuts ribbon on Curalate’s new Center City office

July 12 | Technically Philly by Juliana Reyes

It was the second time that Nutter has celebrated a new startup office in less than a month, cutting the ribbon at Artisan Mobile’s new Old City office in late June. It’s a sign of the times — and Nutter’s priorities — that he’s throwing his weight behind startups that are still early-stage, with a few dozen employees, instead of only applauding big name tech companies that have moved to the city, like Fiberlink, Bentley Systems and First Round Capital.

Mayor Michael Nutter celebrated Curalate‘s new Center City office at a ribbon cutting yesterday. Growing from three employees last summer to 21, the visual analytics firm had outgrown its office space at First Round Capital‘s University City headquarters. At the ribbon cutting, Curalate CEO Apu Gupta said his company’s growth was a sign that Philadelphia can be a place for tech companies to thrive. “Great opportunities don’t need to be found in the Valley, or the Alley,” Gupta said. “They can be found right on the banks of the Schuylkill,” referring to his new office that lines the river at 24th and Walnut Streets.

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Mayor Nutter touts startup’s new office, growth

July 11, 2013 | Philadelphia Business Journal by Peter Key

Curalate celebrated its move to a new Center City location Thursday with a visit from Philadelphia Mayor Michael Nutter.

“Curalate’s growth is yet another sign that Philadelphia is increasingly becoming a hub for fast-growing technology companies and a place for entrepreneurs to start and grow their businesses,” Nutter said in a statement released by his office.

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Tech company moves into East Falls’ Mason Building

July 10, 2013 | Newsworks by Matthew Grady

Situated in a historic building, a once-suburban startup is now based along a Northwest Philadelphia business corridor.

Earlier this month, BuLogics, Inc. announced that they have departed their Malvern headquarters and have set up shop at the prominent Mason Building, located at the intersection of Ridge and Midvale avenues in East Falls.

Founded in 2003, BuLogics is a wireless embedded software engineering firm that has completed numerous national projects, and recently adopted a new focus on energy management tools for apartment buildings and other multiple dwelling units. Among their local projects was a $175,000 award from the city in 2010 to install its energy control systems at the Philadelphia Navy Yard and the Inn at Penn, according to the company’s website.

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‘Innovate’ Tax Credit to aid PA Tech Firms

July 7, 2013 | Pittsburgh Post-Gazette by Deborah M. Todd, via philly.com

If tax credits that helped bring Batman and Jack Reacher to Pennsylvania breathed life into the state’s film industry, a similar measure included in the new 2013-14 budget could save the day for early-stage tech investments.

The Innovate in PA Tax Credit was officially signed into the tax code Sunday and will be activated once the 2013-14 budget makes it through all the necessary channels.

The credit boosts funding to Ben Franklin Technology Partners, the state-sponsored initiative that funds regional technology accelerators. It is based in Harrisburg, with Philadelphia in the southeastern regional branch, one of four…

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FirstMark Capital Reinvests In Artisan Mobile (And Its CEO)

June 26, 2013 | Forbes by Karsten Strauss

Mobile software provider, Artisan, was just slipped a few bills from 5-year-old VC firm FirstMark Capital. The $5.5 million investment is a reaffirmation of FirstMark’s confidence in the Philadelphia-based firm, which it funded to the tune of $1.5 million last year.

FirstMark’s previous investments include Pinterest, SecondMarket, NewsCred and TapAd. The VC had also led a $4 million funding round in 2008 for Boomi, the platform-as-a-service company headed by current Artisan CEO Bob Moul. Boomi went on to be acquired by Dell in 2010.

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More Wharton MBAs Are Opting for Startups

June 25, 2013 | Bloomberg Business by Elizabeth Rowe

The percentage of Wharton MBAs starting their own businesses at graduation has nearly tripled in five years, and the number of students working summer internships with startups is up nearly 15 percent since last year, the school says.

So far this year, 7.4 percent of Wharton’s 2013 graduating class are starting their own companies, up from 6.1 percent last year and 2.6 percent in 2008. The number of first-year students working internships with startups has hit 70, up from 61 last year.

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Philadelphia Welcomes Entrepreneurs

Philadelphia’s own NextFab, a high-tech workshop and prototyping center, will host a casting call for ABC’s Shark Tank reality show on May 11th. This is the only East Coast casting call, and the expectation is that more than 500 folks from the region will travel to Philadelphia for the opportunity to spend two minutes with producers.

Local media has taken notice, and Next Fab is prepared. Participants can find up to the minute information on transportation and visitor information, and special pre-event practice sessions, by subscribing to the NextFab Shark Tank mailing list and by following NextFab on Facebook and Twitter. You can also follow the conversation via #SharkTankPHL on Twitter and Instagram.

Visiting entrepreneurs take note: Philadelphia is a growing hub for entrepreneurs. With changes to the City’s tax code, zones that offer tax credits and savings, and a growing investment community, Philadelphia has a lot to offer growing companies. 

Jump Start Philly is designed to attract new businesses and entrepreneurs that create jobs to Philadelphia by exempting them from paying the Business Income and Receipts Tax during the first two years of operations. Additionally, fees will be waived for eligible new businesses for a variety of licenses and registrations, including the Commercial Activity License, formerly the Business Privilege License.

Philadelphia Job Creation Tax CreditTo qualify for the credit, a business must demonstrate the ability to create at least 25 new full-time jobs, or increase full-time workforce by at least 20% within the required five-year period. The business must also demonstrate financial stability, project viability and the intention to maintain operations within the City for a period of 5 years from the date the tax credit certificate is submitted to the Philadelphia Department of Revenue.

Keystone Innovation Zones (KIZ) are specially designated areas throughout Pennsylvania that receive special tax treatment. Philadelphia’s KIZ is administered by the University City Science Center KIZ program. Although often Life Sciences focused, KIZ benefits have been expanded to include Information Technology companies. You can also learn more about KIZs here.

Tech companies located in Philadelphia can also apply to the Startup PHL Seed Fund, a $6 million investment fund that helps tech startups grow.

 

First Round Capital to Manage $6 Million Startup PHL Seed Fund

Philadelphia, March 19, 2013 – Mayor Michael A. Nutter announced today that the Philadelphia Industrial Development Corporation (PIDC) will partner with First Round Capital, one of the most active investment firms in the country, to invest in and manage the Startup PHL Seed Fund, a new effort by the City of Philadelphia and PIDC to increase the availability of investment capital for Philadelphia-based startups.  Both PIDC and First Round Capital will invest $3 million and First Round Capital will manage the fund to make early-stage investments on behalf of the Startup PHL Seed Fund.  First Round Capital will not receive a management fee, or any other form of compensation, for managing the Startup PHL Seed Fund.

“Supporting entrepreneurs, startups and small businesses in Philadelphia is a priority for my Administration and is crucial for the future of our city. I am thrilled that one of the leading investment firms in the country will partner with us in this effort,” said Mayor Michael A. Nutter.  “Josh Kopelman is one of the most successful investors in the venture community and a leading entrepreneur who has demonstrated his commitment to this city time and time again.  With his help and the support of our entrepreneurial community, Philadelphia will once again be recognized as one of America’s leading cities for innovation and entrepreneurship.”

Josh Kopelman, First Round Capital’s founder, said, “We are thrilled to be participating in this effort. Mayor Nutter’s Administration has been very supportive of entrepreneurship and the Startup PHL Seed Fund is a very concrete example of how the City of Philadelphia is dedicating real attention and resources towards helping founders succeed in America’s founding city.”