Drexel University, the University City Science Center and DreamIt Ventures, on a joint mission to support innovators and entrepreneurs in the Philadelphia region, will launch a new innovation hub in April.
“The Hub is available to companies in a variety of sectors, although its location makes it ideal for technology, digital media, or health IT companies. The goal is to accommodate a community of companies that value a collaborative environment and wish to interact with each other, with startups at the Science Center and with faculty and students at Drexel University, as well as other universities and research organizations in the region,” says Kristen Fitch, a Science Center spokeswoman.
The 17,500-square-foot facility on the second and third floors of the Science Center building at 3401 Market Street will include a suite of flexible workspaces designed to foster collaboration throughout the entrepreneurial ecosystem. It will also house the world headquarters for DreamIt Ventures, a global business accelerator.
The space will be able to accommodate about 100 and flexible enough to host a larger company of up to 25 people or many smaller enterprises in individual offices and a co-working environment, Fitch says.
Drexel is also making a $3 million investment in DreamIt to invest in startups. “DreamIt Fund II and our new headquarters in Philadelphia further position the region as a technology startup hub,” said David Bookspan, founder of DreamIt Ventures. “This exciting partnership between three world-class organizations is an important step in bringing additional capital to Philadelphia to support our growing startup community.”
Application materials are being developed, but expressions of interest can be sent to claing@sciencecenter.org.
Source: Kristen Fitch, University City Science Center
Writer: Elise Vider