For its second class, edtech incubator EDSi triples in size - Technical.ly Philly

Business

Jul. 3, 2014 12:52 pm

For its second class, edtech incubator EDSi triples in size

EDSi is hosting nine companies for the six-month program, up from three in its inaugural class. Four of the nine are Philadelphia-based.
Oxford Mills developers Greg Hill and Gabe Canuso, shown here between two Oxford Mills buildings.

Oxford Mills developers Greg Hill and Gabe Canuso, shown here between two Oxford Mills buildings.

(Photo by Kimberly Paynter/WHYY)

Education Design Studio, Inc., the early-stage edtech incubator associated with Penn’s Graduate School of Education, announced its second class this week. The incubator has tripled in size, accepting nine companies for the six-month program, up from three in its inaugural class.

Four of the nine companies are based in Philadelphia, and they’ll be headquartered at Oxford Mills, the recently-launched affordable housing development for teachers. The other five companies will travel to Philadelphia five times during the program to participate in “intensive weekends,” one of which includes the final pitch day, said EDSi Board Chair Bobbi Kurshan. The startups will also have the option to travel to other cities to pitch investors and find customers, Kurshan said.

Like the inaugural class, each company will receive $10,000, plus all expenses paid for travel, material and other costs. EDSi also budgeted $600,000 for follow-on investments in the companies (that was the same amount as last year when the incubator was smaller, meaning that either the companies will get smaller investments or it will be stiffer competition). In exchange, EDSi will take an equity stake in the company. We’re waiting to hear details on the agreements made with this incoming class of startups. Kurshan declined to share how much equity EDSi would take in each company. For reference, the DreamIt Health accelerator takes eight percent of equity and gives up to $50,000 to each participating company.

The incubator sources its companies from finalists and semi-finalists in the Milken-Penn GSE Education Business Plan Competition. Last year, all three participants were finalists in the competition, while this year, only two of the 12 finalists (Ubongo and Open Assembly) opted to join the incubator. The rest of the incubator participants were semi-finalists in the edtech competition.

Advertisement

These are the participating companies:

-30-
BECOME A CONTRIBUTOR TO THE JOURNALISM FUND TO COMMENT
Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

With backing from Capital One, this startup is working on an edtech platform for refugees

AT&T’s Aspire Accelerator is looking for disruptive edtech orgs

Take a sneak peek inside 3675 Market St., ahead of its fall opening

SPONSORED

Philly

7 biz resources we learned about at Super Meetup Philly 2019

Philadelphia

Linode

Chief Information Security Officer

Apply Now

Blue Bell, PA

Pinnacle 21

Senior Software Engineers

Apply Now

Philadelphia

Linode

DevOps Engineer

Apply Now

‘Startups are the seed corn’: Steve Case stumps for community building in Philly

What it’s like joining a company and traveling to 10 states in two months

Practice got acquired by Instructure. Here are the details

SPONSORED

Philly

Paid family leave adds to the perks at Chariot Solutions

Philadelphia

Perpay

UX Designer

Apply Now

Chesterbrook, PA

Deacom

Inside Sales Representative

Apply Now

Horsham, PA

Penn Mutual

Product Owner/Business Transformation Specialist

Apply Now

Sign-up for daily news updates from Technical.ly Philadelphia

Do NOT follow this link or you will be banned from the site!