Latest news from the Science Center, the companies we support and the innovation ecosystem.
June 7, 2019 | Publications
The Evolution of Innovation Districts: The New Geography of Global Innovation
The Evolution of Innovation Districts: The New Geography of Global Innovation” offers new insights on these evolving places, building on the 2014 paper, “The Rise of Innovation Districts: A New Geography of Innovation in America.” After four years of research and ground truthing, this paper offers new insights on innovative practices, processes, and policies and how to implement them at scale.
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.