JPMorgan Chase is making an investment in innovation, entrepreneurship and job creation through a grant to the Philadelphia-based University City Science Center, the oldest and largest research park in the U.S. The $200,000 grant over two years will support the Science Center’s Port business incubator and related economic development initiatives. The grant was announced during the Science Center’s Annual Funders’ Breakfast on May 20, 2015.
“The proof of the University Science Center’s impact is in the numbers: 15,000 existing jobs here in the Philly region and more than $9 billion generated to the regional economy,” said Mark Schrieber, Executive Director and head of the Greater Philadelphia middle market commercial bank for Chase. “As impressive as those numbers are; we at Chase want to see them grow. And I am proud to announce here today that Chase is committing a $200,000 donation to attract new businesses and give them the tools they need to succeed.”
“The Science Center has existed at the intersection of innovation and economic development for 52 years. We are honored and delighted to partner with JPMorgan Chase to help entrepreneurs and innovators turn flashes of inspiration into thriving businesses,” says Science Center President and CEO, Stephen S. Tang, Ph.D., MBA.
The Science Center is a dynamic hub for innovation, entrepreneurship and technology development in the Greater Philadelphia region. The Port is at the heart of the Science Center’s small business development strategy. Home to approximately 30 companies at any given time, the Port is one of only a handful of small business clusters in the region offering turnkey office and lab facilities, as well as access to shared lab equipment. Beyond the physical infrastructure, the Port offers a strong connection to the region’s innovation ecosystem. Residents can access Science Center networks and programs to capitalize and develop their businesses, while tapping into the rich pool of local talent to grow their workforce.
Since it was founded in 1963, graduate organizations and current residents of the University City Science Center’s Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. Port resident companies raised more than $150 million in private capital from 2009-2014.
About the Science Center
The University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. It provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. The Science Center was the first, and remains the largest, urban research park in the United States. Since it was founded in 1963, graduate organizations and current residents of the University City Science Center’s Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. For more information about the Science Center, go to http://www.sciencecenter.org.
