Welcome to the roundup of the latest from Philly's tech and entrepreneurship scene. Want this in your inbox? Subscribe for free.
Experian acquires locally founded adtech
Global data analytics company Experian acquired advertising tech company Audigent. While the company is now headquartered in New York, Philly is important to its founding story, cofounder Jon Gosier told Technical.ly.
“Other than [Ben Franklin Technology Partners], every single major investor in Philly at the time passed on us,” Gosier said. “I hope this is a good example that encourages more to invest in Philly’s local entrepreneurs.”
Also, two Pennsylvania-based venture firms received funds from state government and the Wistar Institute got a grant to host a new workforce development program.
➡️ Get all the details in this month’s Money Moves
Philly teachers call for more support
Events like CS4Philly’s computer science education gathering are opportunities for students to create community around the subject and see that it is an option for everyone, said Naomi Housman, cofounder of the education org.
But to keep the ball rolling with computer science education, there needs to be equal opportunities for all students in the city and more certified teachers to lead the charge, educators said.
➡️ Read more about how Philly can advance the field
News Incubator: What else to know
• Healthtech founders need to consider how their product will fit into the wider healthcare ecosystem if they want to create systemic change, according to industry experts. [Technical.ly]
• Since Benefits Data Trust shut down earlier this year, local nonprofits like Penn Asian Senior Services are filling the gaps for Philadelphians who need benefits assistance. [Technical.ly/The Philadelphia Citizen]
• Biotech company Carisma Therapeutics announced a company restructuring plan, including a 34% reduction in workforce. Carisma did not respond to Technical.ly’s request for details about who would be affected and when the layoffs would begin. [PR Newswire]
• HR tech company Phenom announced that Olympic gymnast Simone Biles would be a speaker at its 2025 IAMPHENOM conference in March. [Phenom]
• Federal officials confirmed reports of drone sightings over New Jersey, New York and the Philadelphia suburbs, but added that the devices posed no security threat. [The Inquirer]
• Tech workforce development program Launchpad welcomed its third cohort last week. [LinkedIn]
• Philadelphia ranks No. 4 in life sciences metrics compared to other US markets, according to Colliers 2024 Life Sciences Market report. [Colliers]
• The city’s Digital Literacy Alliance announced six recipients of its fall 2024 grant cycle. It distributed $205,000 to organizations that address digital inclusion through community engagement. [City of Philadelphia]
• Penn Carey Law is accepting applications for its intellectual property clinic. [Penn Carey Law]
Understanding the local tech economy
If you’re not sure how qualified small business stock fits with your company or role, Philadelphia’s tech economy isn’t as bad as Philadelphians say it is. In the 2000s, civic leaders attacked the city’s brain drain problem. In the 2010s, startup and tech boosters attacked a dim reputation for commercialized invention and made progress: Of the 10 US regions that attract the most venture capital, Philly’s share grew second fastest.
Now there’s a vibrant movement of technology-led growth, backed with entrepreneur engagement and workforce development strategies. But the region still lags when it comes to overall economic mobility.
Many successes ring true, plenty of problems persist — and it’s all wrapped up in our State of the Philadelphia Tech Economy report.
➡️ Get the full picture and download the report
🗓️ On the Calendar
• Check out ProductTank Philadelphia’s holiday party on Dec. 18. [More details]
• Code and Coffee’s last meetup of the year is on Dec. 21 at the Yard. [More details]
• Join Decentralized Philly for Web3 Wednesday on Dec. 18 and learn more about two local entrepreneurs. [More details]
• AI enthusiasts of all levels are welcome to join AI Philly for its next Hack Night on Dec. 30. [More details]
• Ring in the new year with TOOOLBox and show off your latest project at the meetup on Jan. 3. [More details]
Sarah Huffman is a 2022-2024 corps member for Report for America, an initiative of The Groundtruth Project that pairs young journalists with local newsrooms. This position is supported by the Lenfest Institute for Journalism.Before you go...
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