Half of the six startups from last year’s cohort stayed in Philadelphia. In that way, the program is giving us that DreamIt Ventures vibe.
August 10, 2016 | Technical.ly by Wafai Dias
Leigh Sevin and Jinesh Shah want you to get to your next meeting in style.
The pair runs Arthur, a startup that connects users with personal stylists. After meeting as Venture for America (VFA) fellows in Miami, they’re here in Philadelphia with VFA’s accelerator, along with six other startups run by VFA fellows. (VFA places recent college grads at startups in up and coming tech cities across the country, including Philadelphia, Miami and Detroit.)
It’s the second summer VFA has brought its accelerator to Philadelphia — specifically, First Round Capital’s University City headquarters. The accelerator, which allows fellows to live rent-free for the summer in a West Philadelphia house and get business training and mentorship, is becoming a boon for Philly’s tech scene, akin to the way DreamIt Ventures has historically imported startups from around the country: half of the six startups from last year’s accelerator stayed in Philadelphia and are growing their teams here, including SkyMutual, Compass and LeagueSide.
“A big part of why we stayed in Philly and why our entrepreneurs continue to stay is because of the openness and support we get from the community here,” said Sergei Revzin, VFA’s Entrepreneur in Residence who took over for VFA’s Mike Tarullo in running the accelerator.
See who else after the jump
StartupPHL has done a bang-up job supporting Philly startups, argues VeryApt CEO Ashrit Kamireddi.
August 1, 2016 | Technical.ly by Ashrit Kamireddi
Over the last few months, a lot has been said about the upcoming changes to StartupPHL and more broadly about city and state involvement in fostering an environment that supports local startup growth.
As a non Philly-native who chose Philadelphia as home for my company, VeryApt, and as a StartUp PHL portfolio company, I thought it would be helpful to give my perspective on the program: how it’s driven Philly’s tech ecosystem and how it can be even better the second time around.
Prior to raising a $270,000 angel round led by StartUp PHL, my two cofounders and I had just graduated from our respective grad programs and had placed 3rd in Wharton’s Business Plan Competition. We could have settled our company anywhere, with New York and San Francisco being the obvious choices. For a startup, the initial round of funding is where geography is most critical. Most angels don’t want to invest outside of their backyard, which explains the natural tendency for startups to relocate where there is the most capital.
Silicon Valley ecommerce company Magento bought RJMetrics’ core business for an undisclosed amount. The partial acquisition also creates a new Philly startup, Stitch.
August 1, 2016 | Technical.ly by Roberto Torres
…Analytics software company RJMetrics has sold its legacy CloudBI business for an undisclosed amount to Silicon Valley ecommerce company Magento. RJ officials say Magento will retain 37 members of the company’s current staff of 67.
The other half of the Center City-based analytics company — its Pipeline division, which launched in the fall of 2015 — will spin off to become a new company called Stitch (here’s the new website already), with cofounder Jake Stein at the helm.
The remaining 30 members of RJMetrics’ staff will be joining this new venture, along with cofounder and CEO Robert Moore, who will serve as Chairman of the Board of Directors…
GET THE DETAILS
The Grays Ferry innovation campus adds a robotics startup and two young healthtech companies.
June 30, 2016 | Technical.ly by Roberto Torres
Didn’t we say to expect more surprises from the Pennovation Center?
Since we told you Hershey Co. was going to be the inaugural corporate tenant at the 200,000-square-foot Grays Ferry space, three additional companies have been announced as upcoming members of the community.
FIND OUT WHO