Got more questions? Stay tuned for our twitter talk on Tuesday, December 3rd, at 1:00 EST. Follow the conversation at #CallforIdeas. You can also follow us on twitter at @startupphl.
Real Food Works moves headquarters to Philadelphia, receives $200,000 seed investment.
October 24, 2013 – Mayor Michael A. Nutter, along with First Round Capital and the Philadelphia Industrial Development Corporation (PIDC), announced that Real Food Works will receive the first investment from the Startup PHL Seed Fund. Real Food Works partners with local restaurants to provide customers with healthy prepared meals. It will receive a $200,000 investment from the Startup PHL Seed Fund.
“The goal of Startup PHL is to help innovative new companies to start and grow in Philadelphia, and this investment in Real Food Works is an example of that strategy,” said Mayor Nutter. “Lucinda and her team have created a company that supports the local economy and encourages people to eat healthy food. This investment will allow Real Food Works to continue growing and is the first of many investments in Philadelphia startups that will be made through Startup PHL.”
Real Food Works will receive a $200,000 investment from the Startup PHL Seed Fund, a $6 million seed stage investment fund, in which both PIDC and First Round Capital have invested $3 million. First Round Capital manages the fund.
John Grady, President of PIDC said, “We are proud of our partnership with First Round Capital and the City of Philadelphia to launch the Startup PHL Seed fund to increase the availability of seed-stage capital and to help make Philadelphia an attractive place for entrepreneurs. As a successful startup that has relocated to Philadelphia, Real Food Works is a perfect demonstration of the power of the Startup PHL Seed Fund making the City a great environment to launch and grow business.”
First Round Capital Managing Partner Josh Kopelman said, “We are excited to contribute to the growing vibrancy of the Philadelphia startup ecosystem, to be working with innovative partners, the Philadelphia Industrial Development Corporation and the City of Philadelphia. We are thrilled that our first investment together is in such a great company and entrepreneur. Real Food Works is tapping into an important trend of healthier eating, and the company’s scalable model and technology promises great growth. And, of course, backing a proven entrepreneur gives us tremendous confidence.”
Lucinda Duncalfe, Founder and CEO of Real Food Works, created the company after being inspired to eat a more healthy diet. She founded Real Food Works in May 2012 and incubated the company at Monetate in Conshohocken, Pennsylvania. In June 2013, Duncalfe moved Real Food Works to Philadelphia, where it is currently located at 224 North Juniper Street. Real Food Works employs 10 people.
“The investments from First Round Capital, Startup PHL and Benjamin Franklin Technology Partners are a vote of confidence in Real Food Works’ vision, technology, and team,” said Duncalfe. “We’re grateful for their support, and look forward to working together to make our dream of a healthier America based on a real food diet a reality.”
Benjamin Franklin Technology Partners of Southeastern PA is also an investor in Real Food Works. President and CEO RoseAnn Rosenthal added, “We’re happy to, once more, be an investor in one of Lucinda’s ventures. We’ve partnered in the past and are thrilled to see her launch yet another enterprise. Her actions reflect the commitment and confidence of entrepreneurs who have achieved success, here, and who are choosing to do it again, here.”
Mayor Nutter launched the Startup PHL initiative in October 2012. In March 2013, the City and PIDC announced that First Round Capital would manage the Startup PHL Seed Fund. The Startup PHL Call for Ideas, another portion of the initiative, is designed to provide small grants to organizations working to support entrepreneurs in Philadelphia. The second round of funding will be announced next week by the Department of Commerce, led by Alan Greenberger, Deputy Mayor for Economic Development.
“Philadelphia is increasingly seen as a home for startups, entrepreneurs and investment with more and more companies locating here” said Greenberger. “Startup PHL is the City’s effort – in partnership with First Round Capital and PIDC – to support this growth and attract new job-creating businesses, firmly establishing Philadelphia as a hub for innovation and entrepreneurship.”
Startup PHL is a collaborative effort between the City of Philadelphia Department of Commerce and the Philadelphia Industrial Development Corporation (PIDC). The Startup PHL Seed Fund is an effort by the City of Philadelphia and PIDC to increase the availability of investment capital for Philadelphia-based startups. The Startup PHL Call for Ideas is a grant program to support innovative proposals for ideas that support business creation and entrepreneurs of all stripes in Philadelphia. More information about Startup PHL can be found at www.startupphl.com. More information about the City of Philadelphia Department of Commerce can be found at www.phila.gov/commerce.
Real Food Works:
Real Food Works delivers fresh meals made with only all-natural whole food ingredients. The meals are developed and cooked fresh by a network of local independent restaurants, which create specific meals to meet the real food diet’s nutritional requirements — ensuring delicious, nutritious food. The real food diet has been popularized in New York Times bestsellers, including The China Study, VB6, and Whole, the Amazon best-selling documentary Forks over Knives, and by celebrities including Alec Baldwin, Gwyneth Paltrow and Alicia Silverstone. Located in Philadelphia, the company was founded by seasoned entrepreneur and healthy food fanatic Lucinda Duncalfe and is backed by leading investors. For more information, visit https://www.realfoodworks.com/.
Philadelphia Industrial Development Corporation:
Beginning in 1958 as a non-profit joint venture between the City of Philadelphia and the Greater Philadelphia Chamber of Commerce, PIDC is Philadelphia’s economic development corporation. In the past 55 years, PIDC has invested more than $11.4 billion in Philadelphia supporting $21 billion of total project costs. Currently managing a diverse loan portfolio in excess of $600 million, PIDC brings years of experience and a wealth of knowledge to structuring real estate and financing transactions that attract investment and create and retain jobs in the City of Philadelphia. PIDC has partnered with First Round Capital to create a $6 million public/private venture fund, the Startup PHL Seed Fund. Both PIDC and First Round Capital have invested $3 million and First Round Capital manages the fund increase the availability of investment capital for Philadelphia-based entrepreneurs.
Ben Franklin Technology Partners of Southeastern Pennsylvania:
Celebrating its 30th Anniversary, Ben Franklin Technology Partners of Southeastern Pennsylvania is a national, award winning organization that provides capital, knowledge and networks that help innovative enterprises generate jobs and economic growth. Ben Franklin is the single largest investor in seed-stage companies in this region, and is one of the most active seed-stage investors in the United States. Three-quarters of all recent venture funded companies in the Greater Philadelphia region had previously received funding from Ben Franklin. The Ben Franklin Technology Partners is an initiative of the Pennsylvania Department of Community and Economic Development and is funded by the Ben Franklin Technology Development Authority.
Buy your tickets online: http://seed3point0.eventbrite.com/
SEED (Supporting Entrepreneurship in Education) 3.0 is a crowd-funded and -sourced opportunity for education entrepreneurs and teachers to compete for cash prizes and, even more importantly, present their ideas before an engaged audience of potential funders, users, collaborators, and community members.
SEED 3.0 is modeled off the internationally popular Sunday Soup program, a micro-granting program where attendees pay on a sliding scale (usually $10-20) for a locally sourced dinner during which they hear brief presentations from members of the creative community. The attendees then vote on their choices for first, second, and third prize. Once the votes are tallied, the winning groups take home monetary prizes of varying sizes (e.g., $400 for first, $200 for second, $100 for third) funded by the attendance charge.
SEED 3.0 takes the premise of Sunday Soup and tweaks it: the presentations focus solely on education entrepreneurship in the Philadelphia area. Following a meet and mingle period, during which presenters will be available to answer attendee questions on their concepts, presenters will be given three minutes each to “pitch” their idea to the entire audience. After each pitch, an esteemed panel of judges has five minutes to ask questions, critique business plans, and make suggestions. After all the pitches and Q&A, the audience then votes for a winner.
To generate a significant monetary prize (targeted at $5,000 for first place and $2,500 for second place), attendees will be asked to pay a $25 entrance fee and sponsorships from corporate partners will be solicited. A large portion of this year’s monetary prize comes from a StartUp PHL grant awarded to PhillyCORE Leaders. Other sponsors include PECO, Oxford Mills, and the Philadelphia School Partnership.
The first SEED in March 2012 had over 40 applicants, which were narrowed down to 12 finalists – 6 in an “Emerging” Entrepreneurs category and 6 in an “Expanding/Established” Entrepreneurs category. The winner of the “Emerging” Entrepreneurs category – PhilaSoup – won $5,000, which it is used to apply for non-profit status and to extend its outreach. The winner of the “Expanding/Established” Entrepreneurs category – Springboard Collaborative – won a bundle of pro-bono services (legal, accounting, etc.) and sit-downs with several foundation heads in the region.
The second SEED event, called SEED 2.0, was held in October 2012, and the theme was “technology in the classroom.” We attracted over 20 “ed tech” applicants, which were narrowed down to 5 finalists. The winner, Teachers Lead Philly, used the $5,000 to create an online portal that would supplement its off-line teacher networking and collaboration events. Each SEED event had on average 150 attendees and each raised about $9,000, including $5,000 from ticket sales and $4,000 from corporate sponsorships.
This year, there will be two categories for this year’s SEED event. The first category will be for education entrepreneurs (either non-profit or for-profit) and the second category will be specifically for teachers who are focused on bringing innovation and leadership to their school but are committed to remaining in the classroom as teacher.
WHEN/Where? Wednesday, October 16th from 6 to 8:30 p.m. at City Hall.
Buy your tickets online: http://seed3point0.eventbrite.com/
A recent post in the TicketLeap blog not only talks about what makes a great event, but also highlights Philly Startup Leaders’ Summer BBQ. It’s an event that we at Startup PHL were disappointed to miss, especially because we can honestly say that both TicketLeap and Philly Startup Leaders improves our daily lives.
Bonus: The Porch at 30th Street Station and the Philadelphia skyline make cameo appearances.
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.
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 Credit: To 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.
Philadelphia, March 19, 2013 – The Philadelphia Industrial Development Corporation announced today that through its Penn Venture Fund, it will invest up to $500,000 in the University City Science Center’s QED Program, the country’s first multi-institutional proof-of-concept funding program for healthcare and life sciences technologies. PIDC’s loan will provide direct funding to qualifying research projects at Philadelphia-based academic and research institutions participating in QED. The projects will be developed and selected through QED’s market-driven process. The loan will be repaid from PIDC’s share in proceeds from successful projects.
“PIDC is excited to invest with partners like First Round Capital and the University City Science Center, both of which are highly respected national leaders in their fields,” said PIDC President John Grady. “These new investments are both designed to bring more capital to entrepreneurs in Philadelphia at earlier stages, so that they can turn their big ideas into reality sooner and more efficiently. Today’s announcement illustrates PIDC’s ongoing commitment to find innovative ways to partner with the public and private sectors and to develop new resources for Philadelphia businesses.”
The QED Program has funded a total of 16 projects since its launch in April 2009. So far, five of the projects have resulted in technology options or licenses, and close to $9 million in follow-on funding has been raised. Twenty-two universities and research institutions in Pennsylvania, New Jersey and Delaware, including 11 in Philadelphia, participate in the program.
“Due to a lack of funding, promising technologies are often stranded in the lab and never make it to the marketplace where they can have a positive impact on patients’ lives,” says Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “PIDC’s investment will help launch new companies that commercialize Philadelphia-based discoveries. We at the Science Center look forward to working with PIDC to encourage these companies to stay and grow in the city.”
Philadelphia, March 19, 2013 – Mayor Michael A. Nutter announced today that six local organizations will receive Startup PHL grants from the City of Philadelphia for programs or services that support the entrepreneurial community in Philadelphia. The Startup PHL ‘Call for Ideas’ received more than 115 submissions, which were reviewed by City officials, PIDC, and representatives of the entrepreneurial and startup community. The grant winners are the following:
Alan Greenberger, Deputy Mayor for Economic Development, said, “The overwhelming response to the ‘Call for Ideas’ is further evidence of the strength of Philadelphia’s startup and entrepreneurial community and one of the many reasons why the Nutter Administration is committed to supporting business creation in Philadelphia. Increasingly Philadelphia is becoming a place of choice for businesses to start, stay and grow and the Startup PHL initiative is just one more tool we have to help make that happen.”
The City of Philadelphia and PIDC expressed their gratitude to the following people for their support and assistance: Andrea Allon (Greater Philadelphia Chamber of Commerce and PIDC Board Member), David Brussin (Monetate), M. Therese Flaherty (Wharton Small Business Development Center), Steve Goodman (Morgan Lewis), Apu Gupta (Curalate), Sam Landman (Comcast Ventures), Bob Moul (Artisan Mobile and Philly Startup Leaders), and Richard Vague (Gabriel Investments).
The first Call for Ideas received an overwhelming response with almost 120 organizations and individuals submitting creative, innovative ideas for how to support and strengthen Philadelphia’s entrepreneurial community. The selection committee is currently evaluating the finalist’s ideas, and will announce the winners this month.
Startup PHL anticipates future Calls for Ideas and encourage people and organizations to apply. Sign up for updates or follow @startupphl on twitter for further information, including what makes a successful application.
In no particular order…
Greater Philadelphia Alliance for Capital and Technologies (PACT) – The PACT Enterprise Hackathon
The PACT Enterprise Hackathon will provide an opportunity for technology entrepreneurs to develop solutions that address specific needs posed by any one of several enterprise participants across the healthcare, financial services, infrastructure and government sectors. Hackathon participants in the government sector will work with the City of Philadelphia to address specific technological problems.
Greater Philadelphia Chamber of Commerce – Entrepreneur’s Resource Directory
The Greater Philadelphia Chamber of Commerce will develop and maintain an on-line, searchable, sortable, linked Entrepreneur’s Resource Directory, replacing and improving out-of-date and unsearchable resources that currently exist. The Directory will provide a centralized site to find information on funding sources, professional and technical expertise, specialized facilities and professional services within the region.
Seed Philly – Startup Data Collection Engine
Seed Philly is creating a vetted directory and data collection engine of members of the startup community. By capturing relevant information related to a startup’s daily activities, we intend to create a blueprint for more efficient growth in Philadelphia. Data collected includes the software and hardware products used by each startup, vendor relationships, and details about different growth milestones. The data can be used to create a baseline for entrepreneurs to benchmark their growth, make faster decisions, and ultimately grow more efficiently.
Campus Philly and Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP) – Targeted Internship Matching Program
The Targeted Internship Matching Program will place students at Philadelphia area colleges and universities at BFTP/SEP portfolio companies based in Philadelphia. The goal of the internship program is twofold: 1) provide Philadelphia start-ups with immediate help on current projects and a talent pipeline they can hire in the future; and 2) connect college students to start-ups as employers and mentors, thereby keeping college students in Philadelphia in the future after they graduate.
RJ Moore, RJ Metrics – Entrepreneurship Podcast
We invite interested listeners across the country to join us for a weekly podcast about everything entrepreneurship. Produced in collaboration with Philadelphia media outlets, startup organizations, and universities, our project reinforces Philly as a prominent and dynamic part of the national startup ecosystem. This entertaining podcast fosters collaboration among local organizations and universities, creates an audio archive of educational content for entrepreneurs, and places a sustained spotlight on Philadelphia as a center for thought leadership.
The Franklin Institute – STEM Opportunities at the 2013 Philadelphia Science Festival
Young people need to learn what it takes to turn a great idea into a business opportunity. Startups and entrepreneurs need the chance to showcase their products and ideas. This project will: underwrite the presence of up to 15 STEM-related startup companies or entrepreneurs at the 2013 Philadelphia Science Festival; produce events for students to learn about entrepreneurship; create opportunities for companies to present their ideas to industry leaders.
The Moore College of Art and Design – Women’s Creative Entrepreneurial Launch
Moore College of Art & Design, the only women’s art and design college in the US, will create the Women’s Creative Entrepreneurial Launch to promote entrepreneurship among women, retain college graduates in Philadelphia, and build on Philadelphia’s assets as a center of design and creative innovation. Tailored specifically to art and design-related businesses, the Women’s Creative Entrepreneurial Launch will link recent Moore alumnae who are entrepreneurs and small business owners to mentoring, networking, educational opportunities, co-working sites, StartUp fellowships, micro-loans and access to capital.
Slash 7 and Indy Hall – Philadelphia Bootstraper Conference: BaconBizConf
BaconBizConf: The only conference exclusively for bootstrappers who’ve chosen the awesome yet thorny path of selling software, ebooks, videos, training resources, and tools. While most startup conferences feature a lot of soft-touch stories and venture capital advice, BaconBizConf is relentlessly focused on helping you create, market, and support a product your customers will love. Speakers will include industry stars such as Patrick McKenzie (“The Bingo Card Guy”).
GreenLight Fund, Scattergood Foundation, and Wharton Social Impact Initiative – Collaborative Work and Learning Space: The Exchange
The Exchange brings together entrepreneurship, capital, and capacity building support under one roof to support high performing and high potential nonprofit and social innovations. The Exchange is a collaborative work space and community of practice shared by philanthropic organizations, emerging nonprofit and social ventures, evaluators and service providers. In addition to space, the exchange will provide workshops, access to shared services and technology, networking, and partnership building opportunities.
The Enterprise Center – Center for Culinary Enterprises Program
The Enterprise Center Community Development Corporation supports Philadelphia’s food entrepreneurs. Using state-of-the-art, shared-use commercial kitchen space at The Dorrance H. Hamilton Center for Culinary Enterprises in West Philadelphia, startup entrepreneurs will have the opportunity to develop new and innovative local food products and bring those products to market.
Philly Tech Meetup – Program Expansion
Philly Tech Meetup is the connective glue of the local innovation ecosystem, and convenes technologists, entrepreneurs, investors and the broader community regularly to learn and share. We want to advance entrepreneurship and innovation in Philadelphia, and will 1) develop enriching programs and content, 2) engage more participation and collaboration from stakeholders in the ecosystem, and 3) use our big microphone wisely to benefit the overall community.
The University City Science Center – Formalize and Expand the Regional Affinity Incubation Network (RAIN)
RAIN brings together the regional network of 50-plus research parks, business incubators, accelerators, co-working spaces and support organizations, in order to encourage the sharing of information, capabilities and opportunities. By leveraging, and better connecting, the programs and facilities that support Philadelphia entrepreneurs, RAIN will coalesce, extend and invigorate Philadelphia’s startup community, leading to more ideas developed, more companies formed, and ultimately more jobs created.
Venture F0rth – Program and Facility Expansion: VentureF0rth Commons
Increasingly less of Venturef0rth’s space has been available to support educational programming and community events such as Startup Weekend, DreamIt Ventures, Meetups, and its own series of speakers. Modest modifications to the campus will enable an expansion of the tech, design and entrepreneurship events that have become a centerpiece of the region’s tech ecosystem. The Venturef0rth Commons will support round-the-clock events and programming for the community alongside our shared workspace, providing the flexibility required to better share experiences and teach critical skills to those growing the region’s tech economy.
Ben Franklin Technology Partners of Southeastern Pennsylvania (BFTP/SEP), Greater Philadelphia Alliance for Capital Technologies (PACT), Philly Startup Leaders – The Philadelphia Startup Information Web site
The Philadelphia Startup Information Web site will be an interactive, Web-based data collection and display tool that will be integrated into regional organization sites. The site will highlight and market the diversity, range and impact of Philadelphia area start-up companies by showing: key start-up leaders and connectors, start-up related non-profit and member organizations, and the impact and history of start-ups in Philadelphia.
Technically Philly, the Knight Foundation, Delaware Valley Grantmakers – Social Entrepreneurship Asset Map
Technically Philly will lead a reporting and mapping asset analysis project to highlight the existing pipeline for mission-focused social entrepreneurship in the region. The mapping platform and identified community of social enterprise will serve as a tool for individuals and organizations to better understand the mission-minded entrepreneurship landscape in the region, as well as a basis for the local Knight chapter, in partnership with DVG and Technically Philly, to develop a fund dedicated to this focused slice of Philadelphia entrepreneurship.
Philadelphia’s Coalition of Rising Education Leaders (PhillyCORE Leaders) – Education Entrepreneur Support and Pitch Night
PhillyCORE Leaders we will host SEED (Supporting Entrepreneurship in Education), a crowd-sourced pitch night for education entrepreneurs to compete for funding and present their ideas before an engaged audience. Over the course of the year, we will also provide access to ongoing social entrepreneurship training and create an online portal for education entrepreneurs to share resources.
The Entrepreneurial Law Clinic at the Earle Mack School of Law at Drexel University – Open Source Legal Documents
The Drexel Entrepreneurial Law Clinic supports Philadelphia’s entrepreneurial ecosystem by providing free legal services to startups. With input from the leading startup lawyers in the region, we will partially “productize” our core services by creating an open source set of customizable organizational documents with instructions for use by entrepreneurs.
Advancena, LLC – Lean Start-ups for the Minority Community Program
“Lean Start-ups for the Minority Community” is a six-week, intensive workshop specifically designed to empower members of the minority community to build successful business ventures using the principles of the Lean Start-up methodology. Students will hear from a variety of industry experts and engage in practical, hand-on activities, while collaborating with one another to methodically build their entrepreneurial visions into viable economic opportunities.
GoodCompany Group –Program Expansion
In order to increase the number of social venture startups in Philadelphia, GoodCompany Group will launch a series of community engagement initiatives to build the entrepreneurial ecosystem for civic and social enterprise startups in Philadelphia such as: GoodCompany Alumni Network; PHL Civic Innovators Council; and an Ecosystem Opportunity Survey.
Startup Corps – High School Entrepreneur Program
Startup Corps helps teens learn to create value for themselves, others and the world through entrepreneurship. The program provides classes, mentorship, and micro-capital to help Philadelphia’s next generation of entrepreneurial leaders launch businesses and non-profits.