Ben Franklin Technology Partners Joins 3.0 University Place Project with 28,000 square ft. Innovation Floor
Will join The Wistar Institute in the 240,000 square foot, Life Sciences enabled, LEED v4 Platinum Building on Market Street at 41st
PHILADELPHIA, Pa. —(June 25, 2019)—University Place Associates (UPA) and Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin) have announced their collaboration to operate a new 28,500+ square ft. innovation center within UPA’s life sciences-enabled 3.0 University Place building. To be situated within UPA’s development at 41st and Market Street in Philadelphia, the facility will be devoted to supporting early-stage technology-focused companies through incubation space, support services, and strategic resources.
“Ben Franklin’s decades of committed success in nurturing entrepreneurship makes them an ideal collaborator to share in UPA’s mission: to engage our community and its institutions to maximize the social and economic impact of innovation in our city, the region, and the Commonwealth of Pennsylvania,” said Scott Mazo founder and CEO of University Place Associates. “So many of Philadelphia’s leaders and high-growth entrepreneurs have partnered with Ben Franklin on the path to success. We’re proud that their capability to expedite the lasting growth of what’s happening here will be part of our story, too.”
“UPA’s partnership with Ben Franklin reflects our shared passion for innovation, and our commitment to bring new resources and opportunity to the Philadelphia region’s entrepreneurial ecosystem,” said Ben Franklin president and CEO RoseAnn B. Rosenthal. “Our organizations are aligned in vision to reinforce the resources and opportunities available at the early stages of our region’s continuum of innovation-based growth. That makes us excited to collaborate with UPA to bring our community new resources, and to highlight the amazing things happening here.”
“This innovation space provides critical resources needed by early-stage life science and engineering companies,” adds Anthony P. Green, Ph.D., Vice President of Ben Franklin’s Technology Commercialization Group. “In addition to shared lab space, companies will benefit from the access to Ben Franklin’s partners providing specialized services that support company growth—from bioinformatics and market research to prototyping and fabrication to supply chain, manufacturing, regulatory and market entry. Along with Ben Franklin’s own ongoing collaboration with The Wistar Institute, 3.0 University Place will leverage our Corporate and Venture First Meeting programs that match companies with pipeline and investors, and the full complement of services and assets that Ben Franklin brings its clients and partners”
“Partnering with Ben Franklin Technology Partners will allow us to create an environment that will make 3.0 University Place an integral part and active participant of the fast-growing early stage ecosystem in Philadelphia,” said Anthony Maher, president of UPA. “We’ll have the opportunity to nurture projects, ignite start-ups, and impact the community — and all of this will happen within one of the healthiest work environments you will find anywhere.”
For more information on Ben Franklin Technology Partners of Southeastern Pennsylvania, the Philadelphia region’s most active early-stage investor for more than 35 years, please visit www.sep.benfranklin.org, and follow us on Twitter @bftp_sep.
For more information about University Place Associates and 3.0 University Place,
About Ben Franklin Technology Partners of Southeastern Pennsylvania
Since its beginning in 1982, Ben Franklin has invested more than $200 million into over 2,000 emerging technology companies in the Philadelphia region, making it the most active seed investor in the Mid-Atlantic region, and ranked top 10 in the United States. An independent 501(c)(3), Ben Franklin has played a role in the creation of many of the region’s leading technology companies and, together with the statewide network of four independent Ben Franklin Partner organizations, has been recognized as significantly increasing the odds of success for the young companies it champions. Ben Franklin nurtures young companies by actively investing capital and providing an ever-growing repertoire of resources for its portfolio companies, their co-investors, and the Philadelphia region’s community of technology-based innovation. Ben Franklin is an initiative of the Pennsylvania Department of Community and Economic Development and is funded in part by the Ben Franklin Technology Development Authority.
About University Place Associates
University Place Associates [UPA] is a leading highly sustainable and socially conscious commercial real estate development firm. Based and focused in the University City area of Philadelphia, UPA is dedicated to creating the finest quality, state-of-the-art, healthiest commercial developments in a socially conscious and environmentally responsible way. UPA also seeks to engage and intersect with the surrounding residential communities, startup businesses, schools and universities, to create local jobs, and attract organizations hungry for innovation and talent. For more information, please visit www.upaphila.com and follow @UPAphila on Twitter and UniversityPlaceAssociates on Facebook.
About 3.0 University Place
3.0 University Place is a 240,000+ sq ft Life Sciences enabled building (commercial lab and office trophy building), a flagship for social and environmental responsibility, built for generations that demand both from its workplace. Currently, 3.0, is in fast-track to have shovels in the ground by the end of the year. This location will serve as the first expansion of an innovation corridor that was recently designated as a Keystone Opportunity Zone (KOZ) and a Qualified Opportunity Zone (QOZ). Future tenants in the corridor will benefit from significant tax incentives, as well as close proximity to the 40th & Market transit hub, the University of Pennsylvania, and Drexel University.