Year in review: What changes did 2023 bring Philly’s tech community?

2023 was filled with fundraising, community gatherings and interesting technology. In Philadelphia, Technical.ly hosted the 13th annual Philly Tech Week, and the city welcomed a new mayor. And across the national tech landscape, we saw artificial intelligence dominate headlines and panel discussions — a trend that isn’t likely to slow down in 2024.

Here is a look back at some of the big moments in Philly tech this year. Did we miss any? Let us know: philly@technical.ly.

Inflation-targeted interest rate increases crushed sky-high tech company valuations.

The transition from growth-at-all-costs to capital efficiency brought waves of tech layoffs, including at high-profile startups, including dbt Labs and Gopuff.

Pennsylvania Broadband Development Authority furthered its plan to disperse at least $100 million in federal funding

PABDA was created in 2022 to create a statewide broadband plan and distribute federal and state funding for broadband expansion projects in the commonwealth’s most underserved areas. At the end of 2022, Executive Director Ben Carson and co. revealed a plan focused on affordability, literacy and education, access, and devices. The authority also completed a five-year action plan for BEAD, which went up for public review in August.

As Technical.ly reported this summer, groups from Pittsburgh to Philly have been collaborating through the Statewide Digital Equity Coalition to ensure the fair dispersal of these federal digital equity and broadband expansion funds.

Comcast released a series of investments as part of Project UP, part of its $1 billion commitment to advance digital equity.

The telecommunications giant gave 30 Philly-based nonprofits $4.3 million total in grants at the end of 2022. Part of that effort was a $1 million grant to education nonprofit Heights Philadelphia. Comcast also entered into a three-year long partnership with Heights this spring.

Fore Biotherapeutics raised $75 million in a Series D

Following this August raise, the University City-based biotech company said it would further clinical development of its investigational drug plixorafenib. Fore Bio is just one of the Philly-based life sciences companies that saw giant raises this year, but this was one of the biggest.

Philadelphia’s foot traffic recovery was the fifth strongest of big US cities

Center City District’s Downtowns Rebound report in October compared post-pandemic downtown recovery of 26 cities in the United States. The report found that cities with big tourism, entertainment and hospitality industries had high rates of recovery. Cities with big industries that allow remote work saw less recovery. Philadelphia appeared to have a mix of both.

The Enterprise Center awarded $200K in its first pitch competition for entrepreneurs of color

The program was funded by a $125,000 grant from the Most Diverse Tech Hub initiative from the City of Philadelphia’s Commerce Department. Eight companies were selected to go through a 10-week accelerator program that culminated with an October pitch competition. Four of the companies received prizes of varying amounts.

A regional precision medicine consortium was short-listed by the US Economic Development Administration for Tech Hub distinction

The Greater Philadelphia region — including the Philly suburbs, South Jersey and north Delaware — was one of 31 regions to receive a EDA Tech Hub designation this fall. Now the consortium is preparing its application for tens of millions in funding to expand tech manufacturing. Precision medicine makes sense for this designation because of Philly’s success in the life sciences industry.

Katalin Karikó and Drew Weissman were awarded the Nobel Prize in medicine for their contributions COVID-19 vaccines

Karikó and Weissman are both professors at the University of Pennsylvania’s Perelman School of Medicine. They received the 2023 Nobel Prize in Physiology or Medicine for their research with mRNA.

Apprenticeship program Apprenti expanded across PA

The national tech apprenticeship program Apprenti is coming to southeastern PA. PACT is leading the effort in the Philly region and hopes to launch the first cohort for software developers in early 2024.

1Philadelphia announced plans to raise $20 million by 2026

The digital inclusion nonprofit has already raised $4 million since launching in 2021. This future funding will support new and existing organizations doing tech equity work. At Innovation Weekend, the group was also announced as a co-organizer with Technical.ly of the next Philly Tech Week in May 2024.

Cherelle Parker was elected as Philadelphia’s 100th mayor

During her campaign, the former City Council member — who will also be Philly’s first woman mayor — said she would support minority business growth and workforce development, including life sciences and biotech. Parker said technology creates transparency around city government, but she is also focused on cybersecurity.

Barcamp Philly returned after a pandemic hiatus

About 300 Philadelphians attended the 14th annual BarCamp Philly after a two-year hiatus in November. The sessions ranged from crocheting to artificial intelligence to professional development tips. This early community event among civic-minded tech workers followed a rebound of tech meetups.

Penn Center for Innovation announced its affiliated startups attracted over $1 billion in investment capital in 2023

This statistic was noted in PCI’s FY2023 Year in Review report. Plus: Over 100 startups have spun out of Penn in the last five years, and Penn ranked #1 nationally for licensing agreement income.

Philly Startup Leaders celebrated its 15-year anniversary

December’s Glass Breakers Ball honored PSL’s founders, past presidents and directors of the organization. The evening’s programming also gave awards to members of the tech startup community in nine categories.