PHOTOS: Inside Vanguard’s Philadelphia Innovation Studio

L to R: Head of Vanguard Innovation Studio Lisha Davis; Vanguard Chairman and CEO Bill McNabb; PIDC President John Grady; State Representative Brian Sims.

Investment management giant Vanguard has officially set up shop right here in Philadelphia, just a little ways away from its Malvern, Pa. headquarters. On Tuesday, the company officially cut the ribbon on its Innovation Studio now located at 2300 Chestnut Street, the historic Philadelphia Design Building.

The 16,000-square-foot space — complete with large windows, exposed brick walls, funky seating, and splashes of playful color — spans two floors and is already home to a Vanguard crew of 20, with room for up to 80 more.

Vanguard says the space is the beginning of its innovation journey, one that will further its corporate mission of making investment easier and more intuitive. Chairman and CEO Bill McNabb, who’ll step down as CEO in January, emphasized the role innovation has already played at Vanguard.  Read more »

WATCH: Eight Pitches From Philadelphia’s Shark Tank Casting Call

Shark Tank’s open call at Xfinity Live!. Photo by Haley Weiss

On Wednesday morning, hundreds of hopefuls toting products and presentations of all sorts lined up outside Xfinity Live! for Shark Tank’s annual Greater Philadelphia casting call.

As the hit ABC show revs up for its ninth season, the impact it’s had on America’s entrepreneurial spirit is more apparent than ever: Since its 2009 premier, producers now hear roughly 40,000 pitches annually. And last year, the show teamed up with Comcast Business for the first time to bring open calls to Philadelphia more regularly. Shark Tank holds fewer than ten casting calls each year nationwide.

Applicants from Pennsylvania, New Jersey, Maryland, Connecticut and a handful of other states showed up to fight for their chance to appear before the sharks. But, as we all know, the competition on Shark Tank is stiff—only 100 or so entrepreneurs of the 40,000 open call attendees make it on air each season. So do any Philly-area entrepreneurs at this week’s event have what it takes to wow producers and eventually score a big investment? From snap-off panties to trash can decor, here are seven ideas and products pitched at Philadelphia’s 2017 Shark Tank open call.

Read more »

Thrilled About How Far Philly Tech Has Come? Celebrate at the PHL Innovation Picnic

The Navy Yard | Photo: PIDC

Ten Philadelphia tech organizations are collaborating to host the first-ever PHL Innovation Picnic later this month. In fact, it’s happening next Thursday, June 29th.

The event is a chance to celebrate Philadelphia’s expanding tech community, although people across all industries are welcome to grab a ticket online and head to the Navy Yard for three hours of food, drinks, music, and games.

The Innovation Picnic also doubles as a fundraiser. Proceeds from the event will be donated to three local nonprofits – iPraxis, Spark, and TechGirlz – all of which are dedicated to educating Philadelphia schoolchildren and providing them with resources to succeed. iPraxis and TechGirlz, in particular, focus on science and tech education. Hundreds of attendees are expected to show up in support of these nonprofits and Philly tech.  Read more »

Here’s Why Brookings Thinks Philly’s Innovation Scene Isn’t Competitive Enough

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iStockphoto.com | f11photo

A new report released on Thursday by the nonprofit Brookings Institution tries to tackle a major, eternally looming question for Philadelphia: With all of the city’s recent advancements in innovation, why isn’t Philadelphia more competitive on the national and global stage?

The answer: Philly leaders and institutions lack “a sense of collective urgency” to help the city intentionally connect the dots on how to best leverage its innovation capacity.

The report examined what it calls Philadelphia’s “innovation district” the area from 17th Street in Center City to 44th Street along Market in University City and South along the Schuylkill River to Grays Ferry and determined that this region, home to anchor firms and institutions like CHOP, FMC, the Science Center, Drexel, Penn, Comcast, IBX, and PECO, can be further developed and more interconnected to push Philly past its innovation tipping point.

Philadelphia’s Innovation District. Courtesy of Brookings.

But before the authors prescribed their recommendations on how to bridge the innovation district’s gaps, they took a deep dive into what continues to ail the district and also what keeps it alive. Here are the strengths and challenges identified in the report:  Read more »

One City in Pennsylvania is Poised to Crush the 21st Century …

Photo via Dave DiCello/visit pittsburgh

Photo via Dave DiCello/visit pittsburgh

I came to Pittsburgh to see the future.

On a blustery late-winter morning with a light whorl of snowflakes falling near the banks of the Allegheny River, Sarah, a friendly young PR person for Uber, opened the rear passenger door of a Volvo SUV that had so much electronic gear installed on the roof, it looked like it was wearing a crown. She gestured for me to take a seat. We were in the parking lot of Uber Advanced Technologies Group, a converted restaurant-equipment warehouse just north of downtown. I was about to have a very special Uber ride, and not just because it was free.

I buckled up, and the Volvo headed out on a few blocks of 33rd Street that run under a hulking railroad trestle — an unsubtle symbol of the city’s heralded industrial past. The car turned toward downtown and headed into the bustling Strip District. We went a few miles and then circled back on Smallman Street to the Uber warehouse, which is situated in a part of Pittsburgh that recently has become such a magnet for tech research that one think-tank maven described it to me as “where you really feel you’re in the 21st century.”

The ride took maybe 15 minutes and was uneventful except for a needless stop for a double-parked delivery truck outside one of the Strip’s many food stores and some hard braking when an impatient idiot passed us on the right. I can’t say much more about it because Uber wouldn’t let me in the door unless I signed an imposing confidentiality agreement, and Sarah reminded me several times, in her very friendly way, that the whole trip was “on background.” But I think I can reveal this: Though there was someone in the driver’s seat, for most of the trip the car drove itself. Read more »

Philly ER Doc Wins Big for Creating a Real Tricorder

Toy Star Trek Tricorder prototypes. Image via Pinterest.

Toy Star Trek tricorders. Image via Pinterest.

Final Frontier Medical Devices, a team led by Paoli-based ER doctor Basil Harris, just won the global $10 million Qualcomm Tricorder XPrize competition for creating a groundbreaking device akin to Star Trek’s futuristic Tricorder.

The competition for the Tricorder XPrize has been five years in the making. The California-based nonprofit group XPrize, challenged applicants to develop a tricorder-like device, one that can accurately diagnose 13 health conditions and monitor five vital signs independent of a doctor or a hospital. The tool has the potential to revolutionize the health care space by giving consumers the power to check the state of their health independently at any time. The international competition had 312 entrants from 38 counties and Dr. Basil’s bootstrapped seven-member team of siblings and friends took home the grand prize of $2.6 million dollars for their tricorder prototype — the DxtER.  Read more »

How the Institute of Hip-Hop Entrepreneurship Is Building a New Class of Philly Business Leaders

Sudan Green explains his group’s ideas to the class during January's session.

Sudan Green explains his group’s ideas to the class during January’s session.

When I walked into the Institute of Hip-Hop Entrepreneurship’s third session one snowy Saturday morning in January, I was immediately greeted by the word hustle. It was written across the T-shirts of some of the program’s entrepreneurs, and the group chanted “Ay hustllllle” several times that morning to voice their enthusiasm.

The 24 entrepreneurs, clustered around the couches of the city’s Pipeline co-working space, were tuned into a lesson on the business model canvas, a template for fleshing out brand-new ventures. They spent hours thinking up value propositions, potential revenue streams, and their dreamt-up businesses’ cost structures. But the IHHE isn’t the average boot camp for entrepreneurs. In fact, this is Philadelphia’s first business incubator program intentionally geared toward young people who are often overlooked by existing educational and business communities — applicants who didn’t go to Wharton or have a venture capitalist for a relative. Here are four things I observed about the IHHE that prove it’s building Philly’s next generation of business tycoons. Read more »

10 Philly Startups to Watch in 2017, According to the Biggest Tech Leaders

Collagestartups

As we said farewell to 2016, BizPhilly put a call out to the tech community: Which local startups are you most excited about for 2017? That call was answered with overwhelming excitement for what’s ahead in Philly’s innovation space. Here are 10 startups to watch in 2017, according to the Philly tech community.

Stitch
stitchLAST

When Philly’s wildly successful data analytics startup RJMetrics was acquired by Magento Commerce in August 2016, Stitch spun out of the deal. The company evolved out of RJMetrics’ “Pipeline” product, which provided data infrastructure and consolidation services to clients. The product was beta-tested under RJMetrics for more than nine months and these services are now offered to clients like Booktopedia, Instapage and Philly’s Guru. We’ll be watching Stitch for several reasons: Jake Stein, who cofounded RJ Metrics, is leading Stitch as CEO. He’s definitely learned a thing or two about data SaaS after jumpstarting RJMetrics (once one of Philly’s fastest growing startups) back in 2008 and raising more than $20 million from investors in San Francisco, New York and Philadelphia. Stitch is backed by the same investors as RJMetrics—August Capital, Trinity Ventures and SoftTech VC. And less than six months after their August launch, the company passed 100 paying customers. That’s more than five times faster than RJMetrics grew. Read more »

This Is the Best Part About Jefferson’s New Health Design Lab

Jefferson University Professor Bon Ku; Special Assistant to the President and CEO, Vice President for Innovation Partnerships and Programs, Donna Gentile O’Donnell; President and CEO of Thomas Jefferson University and Jefferson Health, Stephen K. Klasko. Photo courtesy of Jefferson University.

L to R: Jefferson University Professor Bon Ku; Special Assistant to the President and CEO, Vice President for Innovation Partnerships and Programs, Donna Gentile O’Donnell; President and CEO of Thomas Jefferson University and Jefferson Health, Stephen K. Klasko. | Photo courtesy of Jefferson University.

This week, Thomas Jefferson University announced the opening of  The Vault Health Design Lab, a prototyping and maker space designed to spur collaboration between students, clinicians and other healthcare professionals. While it is undoubtedly cool that the health lab is housed in the Old Federal Reserve Bank building, the best part about the lab is that it is adaptable, a space that will continue to change to meet the needs of its occupants.

The space is equipped with 3-D printers and small sewing machines for micro-processing and fabrication projects. The healthcare system also has plans to add augmented reality and virtual reality components to the space as time develops.

Read more »

Mayor Kenney Op-Ed: Tech Is Key to Philadelphia’s Growth

James Kenney | City Council Flickr

Mayor Jim Kenney | City Council Flickr

When I think about where Philadelphia has the greatest potential for growth, I am instantly drawn to the tech industry, and I am not alone. Global incubator and seed fund 1776 partnered with the U.S. Chamber of Commerce this year on a report ranking 25 major U.S. cities and their readiness for the oncoming digital economy — Philadelphia ranked 8th, ahead of New York City and Washington D.C.

Right now, the buzz surrounding Philly’s startup scene is bigger than ever. Companies like Curalate and RevZilla are getting national attention. CNBC recently profiled our startup community, highlighting Philadelphia’s unique attributes, including the city-backed platform StartupPHL. We’re seeing extraordinary growth and development in University City and other innovation districts around the city.

As our progress continues, discussions around how to elevate Philadelphia’s tech and startup scene increase. A difficult regulatory environment is often noted as a challenge, as well as a perceived lack of urgency. I want to assure you I see it as my job to enable innovation, not stifle it, and I take this responsibility very seriously. Read more »

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