Backed by $500K, this upcoming program will help startups go global - Technical.ly Philly

Business

Oct. 24, 2017 12:30 pm

Backed by $500K, this upcoming program will help startups go global

The Global Startup Accelerator, from the University City Science Center and the Welcoming Center for New Pennsylvanians, will launch by January 2018.

The University City Science Center.

(Courtesy photo)

In a push to help Philly companies scale past U.S. borders, the Welcoming Center for New Pennsylvanians and the University City Science Center will launch a program called Global Startup Accelerator (GSA) by January 2018.

To fuel the accelerator, the duo of Philly organizations secured a $500,000 i6 Challenge grant through the U.S. Commerce Department’s Regional Innovation Strategies (RIS) program.

The GSA hopes to rely on the knowledge of “immigrant professionals and international communities in the region” to help early-stage life sciences and tech startups as plan for expansions abroad. To start, the accelerator will host two cohorts of 25 businesses: one focused on targeting the European market and another on the Indian market.

Science Center CEO Steve Tang, who frequently stumps for immigrants and their role in the country’s economic growth, said the program will allow new companies in the tech ecosystem benefit from the knowledge other immigrant entrepreneurs have gathered.

(BTW, here’s a list of 12 notable immigrant entrepreneurs in the Philly area.)

“This is an opportunity to harness the value of the immigrant entrepreneurial community in the city, not only as local job creators, but also as mentors, opening doors to global opportunities for the local startup community,” said Welcoming Center CEO Peter Gonzales. Earlier this year, the nonprofit also secured some grant money to create a business incubator for immigrant youth.

Advertisement

No word yet on if the program will include some investment on the companies themselves, but the organizations project that by 2022, the GSA will have created 240 direct new jobs, $6 million in new foreign investments and $12 million in follow-on investments.

-30-
LEAVE A COMMENT

Advertisement

Knight Foundation grants boost two Philly art-innovation projects

The drone from this Penn spinout can fly inside mines without maps or GPS

Why these biotech startups are facing a 550% rent hike

SPONSORED

Philly

UX, UArts and the importance of human-centered design

Chesterbrook, PA

Deacom

Deacom | Creative Marketing Writer

Apply Now
Chesterbrook, PA

Deacom

EDI Specialist

Apply Now
Philadelphia

Inspire

Associate Product Manager

Apply Now

Philly’s Digital Literacy Alliance has $175K to back innovative projects

Artists and scientists look for common ground, thanks to this Knight Foundation grant

New round of Knight Foundation grants for art orgs embracing tech

SPONSORED

Philly

Pitch to win up to $360,000 in funding at WeWork’s Creator Awards

Philadelphia

Perpay

Product Designer

Apply Now
30 S 15th St #1400, Philadelphia, PA 19102

Inspire

Fall 2018 – Cleantech Connect Project Mentee

Apply Now
Philadelphia

Practice

Director of Sales

Apply Now

Sign-up for daily news updates from Technical.ly

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