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U.S Venture Capital Investment Spanned 133 MSAs in 2015

Friday, February 12th, 2016

Boston, MA Breaks into Top Three for First Time, Overtaking San Jose, CA

WASHINGTON, DC – With the entrepreneurial ecosystem expanding from coast to coast, venture investors deployed capital to 3,662 companies located in 133 Metropolitan Statistical Areas (MSA) in 2015, according to the MoneyTree™ Report by PricewaterhouseCoopers LLP (PwC) and the National Venture Capital Association (NVCA), based on data from Thomson Reuters.

Check out the full press details.

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These Six Startups Are Getting Up to $50,000 Each — Without Losing Equity Meet the New Class of the Science Center’s Digital Health Accelerator

Tuesday, February 9th, 2016

PHILADELPHIA–(February 4, 2016) —Imagine enrolling your ill pet in a clinical trial – for free. Or getting treatment for a chronic wound without going to the doctor’s office. These technologies are among those being developed by the six promising startup companies that have been accepted into the second class of the University City Science Center’s Digital Health Accelerator (DHA).

Click here to read the full press release.

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First Round Capital Backs Curalate in $27.5 Million in Series C Funding

Wednesday, February 3rd, 2016

Curalate, a Philadelphia-based visual commerce solution, has raised $27.5 million in Series C funding. NEA led the round, and was joined by fellow return backers First Round Capital and MentorTech Ventures. www.curalate.com

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Protecting Philadelphia Companies from Chinese Hacking

Wednesday, February 3rd, 2016

Written by Jeffrey Lipson, Executive Director of Layer 8 Security

On Sunday, January 17th, 60 Minutes ran a segment on China’s massive theft of intellectual property from US businesses.The episode highlighted that the Chinese government is using its military and intelligence services to give its companies an edge over US companies by stealing our trade secrets.

Click here to read the full article.

To learn more about how your business can be more resilient against cyber attacks, visit our website at www.layer8cybersecurity.com.

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Health Care Innovation Collaborative: Greater Than Chronic Diseases

Wednesday, February 3rd, 2016

Written by Kate Hagedorn, Manager, Policy Communications, Greater Philadelphia Chamber of Commerce

The CEO Council for Growth unveiled the Health Care Innovation Collaborative in May 2015. This group represents a new and unprecedented national model for collaboration among health care providers, academic research institutions and the investor community. The member organizations include Ben Franklin Technology Partners of Southeastern Pennsylvania, The Children’s Hospital of Philadelphia, Christiana Care Health System, Comcast, Drexel University, Independence Blue Cross, Safeguard Scientifics, Inc., Thomas Jefferson University and Jefferson Health, and University of Pennsylvania Health System. The Collaborative was born of the CEO Council’s Health Care Innovation Task Force, co-chaired by John Fry, president of Drexel University and Daniel J. Hilferty, president & CEO of Independence Blue Cross.

On November 11, 2015, the Health Care Innovation Collaborative announced an open call for innovators around the world to work with its founding member organizations to tackle problems associated with chronic disease. Those who submitted ideas at www.GreaterThanHealthCare.com, an online portal managed by the CEO Council, are eligible to be selected to work directly with these organizations to accelerate innovation that improves patient care and outcomes.

The Collaborative closed the inaugural open call on January 15, 2016 with a robust number of 115 applications. They show a mix of local and out-of-region interest. Of those who applied to the Collaborative, 74% were from the Greater Philadelphia Region. Applications were also received from 10 states across the U.S. as well as from Canada and Australia. Of the companies that applied from outside the region, 72% expressed interest in relocating to, or opening an office in Greater Philadelphia. This interest demonstrates potential for growth in the city and region.

Looking further at the application data, diversity is seen among the applications. 67% of applicant companies identified themselves as a start-up; for applicants who responded to the question, 32% identified their company as minority-owned; and 45 applicant companies have raised capital in the past year. About one-third of the applications can be described as “telehealth” or mobile health communication solutions, while the next largest category was care management.

Priority will be given to those applicants that represent opportunities to reduce costs tied to health care, potentially benefit patients or health care consumers, and have a positive impact on one or more socioeconomically disadvantaged populations. The applicant notification period begins mid-March.

The CEO Council and the Greater Philadelphia Chamber of Commerce understand that leading the growth of health care innovation in Greater Philadelphia is not the responsibility of a single company or individual or even nine organizations. Instead, novel solutions for health care technology and delivery are driven by collaboration and through the experience, expertise and interaction with many key leaders from across the life sciences, technology, investment and health care communities. So they have begun convening leaders in this sector through the newly formed Greater Philadelphia Health Care Action Team – a unique, cross-functional group who share the vision that Greater Philadelphia can transform itself into the global leader in health care innovation. To learn more, visit www.GreaterThanHealthCare.com.

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February Member Spotlight: Domain Technology Group, Inc.

Tuesday, February 2nd, 2016

Domain Consulting Group, Inc. is an ever-growing information systems consulting firm with offices in Wyomissing and Philadelphia, PA. Domain serves Pennsylvania, Delaware, New Jersey, New York, and Florida, as well as other states. As a partner of SAP, the leading business management software publisher in the world, Domain implements SAP enterprise resource planning (ERP) systems for small, midsize, and emerging companies in order to increase the firms’ efficiency and profitability while allowing them to grow to their full potential. Domain is made up of a team of highly skilled and experienced consultants with intimate knowledge of ERP systems and business operations.

Domain’s team enjoys attending events held through the Philadelphia Chamber of Commerce, as well as PACT. They also are adamant about volunteering their time through these organizations in order to benefit people in need. Most recently, Domain attended the attic cleanup at one of the Ronald McDonald houses in Philadelphia.

To learn more and connect with Domain Consulting Group, visit www.domain-group.com

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Edison Partners Portfolio Company Exits

Tuesday, February 2nd, 2016

Bioclinica, a Newtown, Penn.-based provider of clinical trials services, has acquired Clinverse Inc., a Raleigh, N.C.-based provider of financial lifecycle automation solutions for the clinical trials market. No financial terms were disclosed. Sellers included Edison Partners and Hatteras Venture Partners. BioClinica shareholders include Ampersand Capital Partners, JLL Partners and Water Street Healthcare Partners. www.bioclinica.com

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Congratulations Newmark Grubb Knight Frank on a Banner Year

Tuesday, February 2nd, 2016

A Banner Year for the Philadelphia Office Market Closes on a Strong Fourth Quarter

Access the article here.

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Food Testing Start-Up Looks to Stand Out With a New Wrinkle

Tuesday, February 2nd, 2016

The company, Invisible Sentinel, has developed a patented technology called Veriflow that uses a hand-held device to detect the DNA of micro-organisms like E. coli, salmonella and listeria quickly and at a relatively affordable price. The technology has been approved by AOAC International, an association that sets standards for microbial food testing.

Click here to read the full article.

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The United States Of Startups: The Most Well-Funded Tech Startup In Every US State

Tuesday, February 2nd, 2016

Published by CB Insights

Our map infographic shows the top tech startups in every US state, as determined by funding totals. They include Avant, DraftKings, and Vice Media.

 

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