Philadelphia, the Tech Start-Up Incubator
It’s an exciting time to be part of the tech community in Philadelphia.
All of the ingredients of a vibrant entrepreneurial environment are in place.
Sources of capital, both public and private? Check. World class universities attracting and retaining talented young people? Check. Vibrant neighborhoods full of life, at affordable prices? You bet.
Philadelphia is beginning to be mentioned in the same rarified air as Silicon Valley, Boston and New York. Some are calling us “Philacon Valley” as in this quote from Courtney Boyd Myers on thenextweb.com:
“After being nonexistent for years (perhaps since the invention of the rocking chair?), Philadelphia’s tech scene is experiencing a revival with some local writers referring to it as “Philacon Valley.” The city has been hosting a handful of events that blend culture and technology to support new startups, promote investments and breed innovative ideas including Barcamp Philly, the local version of Silicon Valley’s tech conference. The city owes much of its talent to its established education system including Wharton, UPenn‘s School of Business. Many of the city’s start ups have been funded by First Round Capital, SeventySix Capital, Genacast Ventures, Comcast Interactive Capital, DreamIt Ventures and Good Company Ventures.”
First Round Capital, one of the most successful early-stage VC firms in the country has put down roots in West Philadelphia. One of its founding partners, Josh Kopelman sites Philadelphia’s strong Universities, including Penn and Drexel, as one of the core parts of our success story:
“I've seen more and more interesting startups get created in more and more diverse places. Cities such as Boulder. Austin. Portland. Providence. And, yes, Philadelphia. From Invite Media, Monetate, Curalate, Relay Network, PackLate, Solve Media and Warby Parker (which we were fortunate enough to invest in) to AdMob, Diapers.com, Milo, Venmo, DuckDuckGo and Lore (where we didn't invest) we've begun to see more really exciting companies get their start in Philadelphia.”
Just last month, Comcast announced that it plans to break ground soon on construction of tallest building in Philadelphia, the Comcast Innovation & Technology Center, which they say will include incubator space for some of Philadelphia’s tech startups.
Here are a few recent articles that talk about Philadelphia’s tech renaissance. We’ve been proud to be developing marketing for tech companies here for nearly 25 years; the next 25 look even more exciting.