Four months after taking the field, a statewide venture fund is taking its first shots. The so-called GO PA Fund has invested in two companies, a financial technology firm based in Swarthmore and an advertising tech company based in New York, albeit with roots and some operations in Philadelphia. The fintech company is LoanStar Technologies, which […]
Plus, state gov has a new chief information security officer, Exyn Technologies announced its new CEO, and more local leadership changes. With just a few weeks to go before her tenure begins, Mayor-Elect Cherelle Parker announced the members of her transition team last week. This includes a leadership team, senior advisors, a steering committee, 13 sub-committees and a transition […]
The fund will primarily invest in follow-on investments selected from over 600 current and future portfolio companies of the statewide network of four Ben Franklin Technology Partner entities, (collectively, the “Ben Franklin Network”). Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation (NASDAQ: FULT), today announced it is investing up to $10 million in the […]
The fund comes amid a uniquely innovation-minded moment for Pennsylvania, said Scott Nissenbaum, head of the statewide org’s southeastern arm. Ben Franklin Technology Partners of Southeastern Pennsylvania is leaning into statewide collaboration with the other Bens and state government with the new Global Opportunity Pennsylvania (GO PA) Fund II. The Philadelphia-area arm of the state-backed investment network announced […]
Ben Franklin Technology Partners has raised its largest ever amount of capital, securing $28 million towards its $100 million statewide fund in a bid to retain and grow startups in Pennsylvania. The Global Opportunity Pennsylvania Fund, or GO PA Fund II, follows the $24.3 million GO Philly Fund Ben Franklin Technology Partners closed in 2019. The GO […]
As part of the President’s Investing in America agenda, the U.S. Department of Commerce identifies regional centers primed for innovation and job creation. WASHINGTON, DC — The Biden-Harris administration, through the U.S. Department of Commerce’s Economic Development Administration (EDA), today announced that Greater Philadelphia Region Precision Medicine Tech Hub in Pennsylvania was designated as one of the […]
Local leaders Dr. Daniel Skovronsky, Margaret Berger Bradley, Sheila Ireland and Sulaiman Rahman were honored at the Science Center’s annual fête. Philly has the talent to succeed as an innovation hub, but its people and organizations need to believe in themselves more to make it happen. This was one of the themes discussed by leaders […]
Investments by Ben Franklin Technology Partners of Southeastern Pennsylvania in fiscal year 2023 reflected a slow capital market, and CEO Scott Nissenbaum said more of the same could be coming. Ben Franklin receives state funding, so it isn’t as pressured by external market conditions as a traditional venture capital firm, but it still saw fewer companies raising […]
Under the CHIPS and Science Act, the U.S. Commerce Department will award 20 or more winning regions $50 million to $75 million to create globally competitive industry clusters. Two Philly-area groups focused on biotechnology and precision medicine want to win a new federal designation as regional tech and innovation hubs under a U.S. Department […]
Celebrating 60 years of scientific innovation, the Science Center will honor four individuals who have demonstrated leadership in fostering a more innovative, collaborative, and equitable future during its annual Nucleus Awards, presented by CSL. The Nucleus Awards, taking place on September 26th, is the Science Center’s annual celebration convening the region’s leaders in support of cementing Philadelphia […]