StartupPHL Newsletter #43

State of Startups, White House Summit and A FinTech Tale


This week Mayor Kenney helped launch the Vault – the new innovation space at Sidney Kimmel Medical College at Jefferson. You can find more info about the innovative design medicine program online

Your weekend reading is right here.

State Of Startups 2016

Our friends at First Round Capital explore what it’s like to be an entrepreneur. Hear what 700+ Founders have to say.

See the Results, via First Round Capital

White House Teams Up With Stanford & Tech Leaders

The White House partnered with Stanford University and the Chan Zuckerberg Initiative to co-host the Summit on Poverty and Opportunity. The two-day event focused on using technology and innovation to address issues like poverty, inequality, and economic immobility.

Details, via BuzzFeed

Seeds Of A FinTech Startup

A story about FinTech, launching at any age, and knowing your market. Like, REALLY knowing your market.

Learn More, via The New York Times

StartupPHL Spotlight

PACT just wrapped up its annual IMPACT Capital Conference. Mayor Kenney opened the event and had some nice things to say about entrepreneurship and Philly’s tech industry.

If you weren’t able to make it this year, head over to the site to see who was there, find out what companies presented, and take a look back at over 20 years of the conference!

We want to shine a light on awesome things happening in the local community. Have something to share? Email us or tell us on social.

StartupPHL is the City of Philadelphia’s platform for supporting entrepreneurship and startup activity.

All events and applications noted in this newsletter are for informational purposes only and not an endorsement. We encourage readers to perform due diligence for any programs listed here.

Call for Ideas Recipient Spotlight: Schoolyard Ventures

The following post has been adapted from content provided by Rich Sedmak, Founder of Schoolyard Ventures.

What does it take to increase inclusivity and diversity in the PHL startup ecosystem? At Startup Corps and Schoolyard Ventures, we believe that developing a talent pipeline of traditionally under-served youth is necessary to leverage the talents of every Philadelphian. Over the last 3 years, over 400 high school students in Philadelphia have experienced launching their own companies and non-profits. With the help and support of funding from our StartupPHL Call for Ideas Grant, these students have had access not only to entrepreneurial programming and mentorship, but to micro-financing as well, to make their ideas a reality.

Through entrepreneurship programming, students in our city have received access to a supportive, entrepreneurial environment and culture that encourages taking calculated risks, in addition to a platform to access networks that they otherwise might not have access to. Via the micro-funding program, we’ve learned that as little as $250 can help a young person launch a business that could change their lives, as well as build skills and improve the lives of others in our city.

By developing talent among under-served populations and by providing students with access to networks, capital and knowledge not available in their schools, we’re hoping to provide every student in our city with the opportunity to participate in the entrepreneurial ecosystem.

The StartupPHL Call for Ideas program funds innovative and exciting proposals that support Philadelphia’s entrepreneurial ecosystem. You can apply for the fifth round of Call for Ideas online now.

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.


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.