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UC KIZ Receives $172,500 KIN Grant to Support Emerging Tech Companies

PHILADELPHIA‐‐(September 25, 2012) The University City Keystone Innovation Zone (UC KIZ) has received a $172,500 Keystone Innovation Network grant from the Commonwealth of Pennsylvania for the Emerging Technology Collaborative, a suite of programming that will support the growth of emerging technology companies within the UC KIZ and better connect UC KIZ companies to the region’s entrepreneurial and innovation ecosystem. The grant was awarded by the Ben Franklin Technology Development Authority and the Pennsylvania Department of Community and Economic Development.

Emerging Technology Collaborative programs include:

 A Funders Fair that educates early‐stage companies on the availability, requirements and expectations of different types of funding.

 A mentoring program, followed by a pitch event that will allow university researchers to showcase their technologies and get a head start in raising capital

 SBIR/STTR grant writing support

 Micro Grants for the development of prototypes

 Program support to help address individual UC KIZ Partner needs while facilitating and promoting multi‐institutional collaborations

UC KIZ programming is aligned with the University City Science Center’s Quorum initiative which seeks to strengthen the region’s culture of innovation and entrepreneurship by providing the support system necessary for emerging technology companies to succeed. Alignment through Quorum also allows the UC KIZ to transcend geographical barriers throughout the Greater Philadelphia entrepreneurial community and reach a wider audience.

"The UC KIZ excels at accelerating technology transfer and entrepreneurship in the region” says Vice President for Research at Thomas Jefferson University, Steven McKenzie, M.D., Ph.D., who serves as Chairman of the University City Keystone Innovation Zone Executive Committee. “KIN funding will allow the UC KIZ to continue to provide entrepreneurs with the access and advice they need to maximize the potential of university research and start‐up companies in Philadelphia.”

As part of its larger efforts to support Philadelphia’s emerging technology startups, the UC KIZ has also expanded its industry focus of life sciences to include startups commercializing products and technologies within the information technology sectors. With the expanded industry focus, the UC KIZ expects to double the number of entrepreneurs and startups that it supports with its programs including the popular KIZ Tax Credit program which allows eligible companies to access up to $100,000 a year in tradable tax credits.

About the University City Keystone Innovation Zone

The University City Keystone Innovation Zone is a partnership of BioAdvance, Drexel University, Thomas Jefferson University, University City Science Center, University of Pennsylvania, University of the Sciences in Philadelphia and The Wistar Institute. It was established in 2004 by the Commonwealth of Pennsylvania as a Keystone Innovation Zone, a geographically designated zone designed to create a “knowledge neighborhood” that develops technology business communities by aligning talent and resources. UC KIZ partners are committed to working together to ensure that life sciences technology opportunities are developed and supported to maximize the potential of university research, start‐up companies and international companies seeking to locate in the region. For more information about the University City Keystone Innovation Zone, call (215) 966‐6156 or visit www.uckiz.com.

About the Science Center

The University City Science Center accelerates technology commercialization, regional economic development, and the market availability of life‐enhancing scientific breakthroughs by bringing together innovations, scientists, entrepreneurs, funding, laboratory facilities, and business services. Established in 1963 and headquartered in Philadelphia, PA, the Science Center was the first, and remains the largest, urban research park in the United States. 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 www.sciencecenter.org.

About Quorum

Quorum is a strategic initiative of the University City Science Center that is designed to unite the region’s entrepreneurship and innovation communities through a central gathering space and related programs that enable idea generators to meet, share and learn, promoting the success of companies, individuals and the Philadelphia region

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Media Contact:

Kristen Fitch

Kristen Fitch

Director, Marketing