Apr. 16, 2014 12:30 pm
The incubator budgeted $600,000 to invest in EDSi's inaugural three startups: Apprennet, Raise Labs and scrible, EDSi CEO Brien Walton said. This number includes the $10,000 that each company received at the beginning of the program, as well as program services.
Feb. 28, 2014 12:30 pm
It builds off the work of Penn's four-year-old UPstart program, which helps faculty and students create businesses, and gives those businesses a physical place to call home. At least one UPstart business is located in the Pennovation Center already: Novapeutics, a diabetes treatment company.
Jan. 13, 2014 11:30 am
The incubator held its first three six-month cycles in 2012 and 2013, backed by a $250,000 Knight Foundation grant. The Knight Foundation re-upped its funding last August, awarding Project Liberty $345,000.
Jan. 7, 2014 9:30 am
Since launching in 2001, the Baiada Institute for Entrepreneurship has been a hub of Drexel tech startup businesses. It has a new incubator inside the new $92 million LeBow building but the same mission for growing the region's ecosystem.
Sep. 23, 2013 8:30 am
Each startup will receive $10,000 upon entering the incubator when it launches in late September and will be able to raise more funding from the incubator's fund after graduation.
Sep. 20, 2013 12:00 pm
The university is keeping mum about the details until the official opening, scheduled for Oct. 3, including the reason for the move and the number of companies the new space will be able to accommodate.
Sep. 6, 2013 11:30 am
The program is for entrepreneurs who are just beginning to formulate a business plan or product. It will offer sessions on "legal topics, finance, marketing, technology, sales, business strategy, and business plan writing taught by Novotorium partners and staff."
Aug. 13, 2013 12:30 pm
Housed at Macy's Center City, the incubator is dedicated to promoting local talent: it designates one spot each for alumni of Drexel, Moore College of Art, Philadelphia University and two "wild cards," designers who did not graduate from those specific schools.
Aug. 8, 2013 8:30 am
The Knight Foundation grant is a nearly $100,000 increase of the initial $250,000 grant that the Project Liberty partners received in 2011 to run three classes of the incubator.
Aug. 6, 2013 8:30 am
The incubator, said Zach Simkin, was "born out of total need." Simkin helps organize Penn's Founder's Club, a university-wide club that supports student entrepreneurs. He and co-organizer Carlos Vega kept hearing about MBAs who were struggling to find office space for the summer, Simkin said.