University City Science Center Receives SBA Funding for Newest Commercialization Program

PHILADELPHIA–(September 6, 2016) – The U.S. Small Business Administration has awarded $50,000 to the University City Science Center’s newest commercialization program, Phase 1 Ventures. Soft launched in 2014 and formally rolled out earlier this year, Phase 1 Ventures (P1V) is a startup accelerator for “long horizon” technologies – those requiring significant development and/or regulatory approvals – such as healthcare, materials, or energy companies.

Phase 1 Ventures provides know-how, management, facilities, and investment to universities looking to spin out new companies, and to startups formed for the purposes of commercializing academic technologies.

The program leverages the Science Center’s network of experienced entrepreneurs along with corporate and product-development professionals to strategically contribute expertise to the commercialization process and help applicable companies apply for Small Business Innovation Research (SBIR) grants.

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