PACT Times

November 2016

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Opening Night Reception at IMPACT 2015


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Cover Story

The revenue recognition transition

What emerging growth companies need to know about ASC 606. Authored by Phil Santarelli, CPA, Partner Emeritus, Baker Tilly and Howard J. Heyman, CPA, Partner, Baker Tilly

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Accounting Standards Codification (ASC) 606, Revenue from Contracts with Customers, affects virtually every entity that prepares financial statements. The new standard impacts one of the most important numbers in financial statements - revenue - and could impact key financial ratios, sales, contracts, technology systems, accounting and internal controls. Organizations that prepare financial statements under generally accepted accounting principles (GAAP) must act now.

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What's your story?

If you would like to write the cover story for upcoming editions of PACT Times, please contact Amanda Nardi by November 15th.

News & Announcements

Accepting Nominations for the 24th Annual Enterprise Awards

Nomination process closes Friday, November 11, 2016.


The Enterprise Awards is the region's most prestigious business honors for Technology and Healthcare companies, leaders, and entrepreneurs. The 24th Annual Enterprise Awards will present 10 competitive awards.


Nominations are now being accepted for:

  • Technology Startup
  • Technology Emerging
  • Technology CEO
  • Technology Company
  • Digital Innovation
  • Healthcare Startup
  • Healthcare Emerging
  • Healthcare CEO
  • Healthcare Innovator
  • Investment Deal

Attracting more than 900 prominent business leaders, the Enterprise Awards black-tie gala celebrates achievement, innovation and success in the Greater Philadelphia region.

Nominate a Company Today »

PACT Launches New Brand Focused on Innovation and Entrepreneurship

Strategy committed to early- and growth-stage technology and healthcare companies throughout the Delaware Valley


We proudly announce the launch of our new brand, laser focused on early- and growth-stage companies in the Greater Philadelphia region along with complimentary drivers of innovation and entrepreneurship.


Read full press details »

Connect witb PACT on LinkedIn


We invite all members and prospective members to connect with PACT on LinkedIn. Once you become a follower, you'll have access to member news, details on events and articles from the healthcare and technology spheres both regionally and nationally. You can also keep the PACT universe up to date with your company's latest news. This is a great way for PACT to help you build visibility and stay connected.


Connect with PACT on LinkedIn »


PACT Cybersecurity Event  

Managing Cybersecurity Risk on a Limited Budget

November 15 | 8:30 - 10:30 a.m.
Grant Thornton | 2001 Market St, Philadelphia, PA 19103

Sponsored by:

grant thronton

saul ewing


IMPACT 2016 Capital Conference

Growth Through Disruption

November 29 and 30 | 1 - 9 p.m.
Sheraton Philadelphia Downtown Hotel and The Crystal Tea Room | 201 N 17th Street, Philadelphia, PA 19103

Hosted by:

Grant Thornton


24th Annual Enterprise Awards

Recognizing Achievement in Technology, Healthcare and Investment

May 18 | 5 - 9 p.m.
Pennsylvania Convention Center | Grand Hall and Ballroom

Title Sponsor:

Fairmount Partners

In Partnership with:


Nominate A Company »


12/2 - PACT Technology Executive Roundtable »

12/7 - PACT Digital Health Event »

1/25 - PACT Foundation Breakfast »


Interested in Sponsoring an Event?

Please contact Dianne Strunk for more information.


Fresh off a major capital infusion, EvolveIP just acquired Xtium Philly

Evolve IP, a Wayne-based cloud services company, announced on Thursday it had acquired King of Prussia, Pa.-based Xtium, Inc., another cloud services company. The company did not immediately disclose any financial details from the transaction.

Read full article »

Drexel chief Fry warns Philly Chamber: Smaller cities 'eating our lunch'

Philadelphia Inquirer

Philadelphians might be feeling self-congratulatory about the estimated $11 billion invested in the Comcast and FMC headquarters towers, in the suburban-like Navy Yard office campus, in University City labs and clinics, and in the apartments, retail and restaurants transforming Center City and the college neighborhoods, and other new construction over the past three years.

Read full article »

Q3 saw highest investment figures in Philly area since Great Recession: Report

Philadelphia Business Journal

Venture capital investments in the Philadelphia region last quarter reached highs that haven't been seen since the Great Recession, a newly released report shows.

Read full article »

The Cheapest Cities to Base Your Tech Startup

Bloomberg Technology

It's no secret that the San Francisco Bay area has gotten too expensive for tech workers, but costs have also been skyrocketing for their companies, making other U.S. locales more appealing for industry offices and headquarters.

Read full article »


Welcome PACT Members

Adaptive Clinical Systems


Conlin's Digital Print & Copy Center

Conner Strong & Buckelew

DSM Biomedical

Fibrocell Science

GSI Health

Guiding Technologies Corp

IT Pros

PernaFrederick, LLC

Safeguard Scientifics, Inc.

T.G. Wall Management Consulting

The CRT Partnership

WealthHub Solutions

Press Releases & News


Anexinet Awarded Innovator of the Year! »

Data Systems Analysts

Data Systems Analysts Inducted into Philadelphia 100 Hall of Fame »

DSA to Supply Information Assurance Expertise in Support of US Navy Land and Sea Cyber Security Architecture »

Fairmount Partners

Fairmount Partners News »

Newmark Grubb Knight Frank

NGKF Completes the Sale of Delta Pointe's Lot 7 to the Shaner Hotel Group »

Intact Vascular, Inc.

FDA Approves TOBA II BTK Pivotal IDE Clinical Study »

Safeguard Scientifics

Safeguard Scientifics leads $5M Series A Financing for Brickwork, the first software platform to bridge the experience gap between e-commerce and brick and mortar retail »

Safeguard Scientifics leads $5.5M Series A Financing for Moxe Health, a company focused on accelerating the exchange of clinical data between payers and providers »

Safeguard Scientifics leads $750,000 Seed Financing for MedCrypt, an early-stage medical device software security company »

Zynerba Pharmaceuticals

Zynerba Pharmaceuticals Announces Initiation of STAR 2 Open-Label Extension Clinical Trial for ZYN002 CBD Gel in Adult Refractory Epilepsy Patients »

Zynerba Provides Clinical Update for Lead Development Candidates - ZYN001 and ZYN002 »

We thank our Founding Leaders for their commitment and support:



Ben Franklin Technology Partners

Bentley Systems

Comcast Business

Cozen O'Connor

Duane Morris

Evolve IP


Fairmount Partners

Fox Rothschild

Grant Thornton

Independence Blue Cross



Morgan Lewis

NewSpring Capital

Osage Partners

Pepper Hamilton



Safeguard Scientifics 



University City Science Center

University of Pennsylvania


Data Point of the Week with Bob Moore of RJMetrics

Bob Moore

Explore the world around us using data with Bob Moore of RJMetrics

View the Latest Episodes »

PACT Foundation Corner

Donate Today to AWE Ventures

Powered by Ben Franklin

About AWE Ventures
By using an innovative model that draws on crowdfunding and donations, everyone can be involved in supporting women-led ventures. AWE Ventures — Powered by Ben Franklin is built from three major components:

  • A crowd-funded, donation-driven capital pool exclusively in support of women-led startups and emerging enterprises. AWE and Ben Franklin will work together to engage donors in the world of investments in early-stage women-led enterprises. *Ben Franklin will match* contributions up to $250,000 to form a total contribution pool of $500,000, and will manage the process of investment in these companies.
  • Mentorship programs that combine Ben Franklin’s world-class model for due diligence with the experience of the AWE community, to provide hands-on support for entrepreneurs from both organizations’ shared networks of capital, counsel and connections.
  • Events, workshops and published content to empower potential entrepreneurs and investors with stories of success from each organizations’ network of leaders, celebrating the progress of women in entrepreneurship and investing.

Learn more »


Share Your Insights in imPACT Times

We invite you to contribute any insights or expertise you have that show the importance of women-led enterprises or support diversity in innovation for Philadelphia.

If you are interested in learning more or if you would like to donate, please contact Dianne Strunk.


11/17 — Anexinet View »

11/16 — LSC's Annual Networking Dinner Event 2016 »

12/15 — DevOps Workshop »

InSITE Philadelphia Call for Companies »

2/14 & 2/15 — CompTIA DC Fly-In »


Philadelphia Alliance for Capital and Technologies (PACT)
200 South Broad Street, Suite 700, Philadelphia, PA 19102  •  (P) 215 790-3800 (F) 215 790-3601