Latest news from the Science Center, the companies we support and the innovation ecosystem.
March 26, 2019 | Publications
2018 PHILADELPHIA VENTURE REPORT
For the fifth year in a row, the Philadelphia MSA venture ecosystem closed in on nearly 200 transactions. However, 2018 set its own record, seeing nearly $1.4 billion invested—eclipsing the prior high of $1.1 billion handily. Median financing sizes also remained relatively healthy as opposed to inflated, signifying a sustainable financing environment. Although larger rounds are occurring more frequently than in the past, as over 60% of all capital invested in the Philly MSA in 2018 was within rounds of $25 million or more, that is more testament to the ecosystem’s ability to produce more mature companies capable of raking in fundings of such size in recent years.
Amid rapid change brought on by new forms of competition, new regulations, and innovation, the Life
Sciences industry in Pennsylvania is in the process of reinventing itself. The Life Sciences industry has
historically been a strong contributor to Pennsylvania’s economy. Following the financial crisis, the pace of growth has slowed in the face of increased costs, heightened uncertainty, changes in regulations and
risk factors, and greater demands for efficiency.
This edition of the Science Center's Annual Review celebrates the wide range of scientists who make up the Science Center — including the entrepreneurs, artists and students who relentlessly pursue discovery. The desire to push beyond the status quo is what motivates all the people who are at the core of the Science Center. The thinkers, doers and entrepreneurs who are bringing to life the ideas that will revolutionize our collective future.
Connect to compete: Philadelphia’s University City-Center City innovation district
Philadelphia’s innovation economy is strong, but city leaders can do more with its existing assets to compete globally and benefit local communities, according to a new report from the Anne T. and Robert M. Bass Initiative on Innovation and Placemaking at the Brookings Institution.
The Greater Philadelphia Region (GPR) is positioned to lead the next stage of disruption within the spectrum of Life Sciences disciplines, thanks to its world-renowned research institutions, top biomedical programs, and a healthy ecosystem of small and large enterprises and investment activity, a new study shows.
University City Science Center Is an Economic Catalyst for Greater Philadelphia
Graduate firms and current residents of the Science Center’s business incubator support one out of every 100 jobs in Greater Philadelphia and drive $12.9 billion in economic activity in the region. A new analysis, conducted by the Economy League of Greater Philadelphia and Econsult Solutions, Inc. highlights the Science Center’s role as an economic catalyst for the region.
Between June 2015 and June 2016, we’ve created more spaces and places for people to engage with the Science Center; honed and expanded our programs to support innovation and entrepreneurship; and enhanced the way we talk about our role in the region’s innovation ecosystem.