Designed specifically for startups, [ic@3401] combines the ingredients to launch companies faster. By combining a traditional co-working model with resources, connections and customized mentorship, startups get the feedback they need and the support they require. A partnership between Drexel and the Science Center, ic@3401 allows entrepreneurs to tap into the creative minds of academia and industry.
As a result of the successes coming out of ic@3401 members companies, investors are recognizing that ic@3401 is a Philadelphia asset and the place to look for their next deal. Ben Franklin Technology Partners has invested in nearly 40% of the companies at ic@3401, and many other investors count members and alumni in their portfolios, including: Robinhood Ventures, Keiretsu Forum, Mid-Atlantic Diamond Ventures, BioAdvance, Safeguard Scientifics, Penn GSE / EDSi, NextFab RAPID Accelerator, Rittenhouse Ventures, Delaware Crossing, DreamIt, and Startup PHL to name a few.
Since the beginning of 2016, 52 companies have raised over $53M, creating over 250 new jobs locally… Read More Here
…ic@3401, which is located on Drexel’s University City Campus at 3401 Market St., specializes in growing startups and helping to build companies to a point where they can expand and move off-site (and, hopefully, remain in the city). Most of the companies that come to ic@3401 are just starting out and can grow in a rent-subsidized space surrounded by a community of entrepreneurs and other innovators. It’s also a valuable resource for Drexel faculty, postdocs and graduate students with entrepreneurial endeavors related to their research.
“This space was designed with Drexel academic innovators in mind,” said Shintaro Kaido, managing director of venture commercialization for Drexel Ventures. “Many from Drexel are relatively new to entrepreneurialism. So ic@3401 was built so that there’s a critical mass of active and successful entrepreneurs who Drexel participants can work alongside to move up the learning curve as fast as possible.”
“We're providing a competitive advantage for Philly's startups to raise capital, grow, and stay in the city,” said Eamon Gallagher, JD ’13, program director of ic@3401 and director of the Entrepreneurial Law Clinic in the Kline School of Law. “Companies start here with two or three people and an idea, and we help them deliver a product, sell it, hire employees, raise capital and get their company off the ground. Our average startup goes from a team of two to a team of 10 in 19 months.”
This year, 34 companies in ic@3401 have already collectively raised more than $20 million, a marked increase from the $16 million raised in 2017 and the $18 million raised in 2016. In the past three years, 52 companies have raised over $53 million. Read More Here
…If the word “grit” entered your lexicon sometime in the last few years, you likely have Angela Duckworth to thank. She’s the author of the best-selling book “Grit,” which Forbes named a “Must-Read Business Book for 2016.” Now Duckworth, who’s also a recipient of the esteemed MacArther Foundation “genius grant,” will set up shop at the Science Center in University City with her team Character Lab… Read More Here