University City : Innovation + Job News

Crosstown tracking: The Philly Tech Week 2012 preview

Flying Kite Media Tuesday, March 27, 2012

Sure Old City is ground zero for the Philly tech scene, but Philly Tech Week 2012 organizer Christopher Wink has his eye on advancing technology citywide. Kicking off April 20 with Philly Startup Weekend, PTW 2012 is designed to reach a bigger audience with curated events organized by track. With over 60 items now on the calendar, and more to come, Wink says he wants PTW to reflect a broad, inclusive and impactful tech community.

"I have always been interested in digital access issues," says Wink, who is working with State Representative Rosita Youngblood on an event aimed at increasing computer literacy for seniors, as well as widening the circle to include neighborhood groups outside the city ring. Wink, who is also the co-founder of Technically Philly, is looking forward to the robotics expo, which aims to show middle and high school kids that technology can be both cool and practical.

The avalanche of events of last year's inaugural PTW, says Wink, was meant to rapidly raise awareness of the tech community. Feedback from 2011 led to curation of 2012 participants and creation of tracks for Entrepreneurship/Investment, Media/Transparency, Arts/Creative, Access/Policy and Design/Development. "Sixty to 70 events are too much to comprehend," says Wink. "The grouping of events makes it easier for Joe Entrepreneur." A close relative, by the way, to Joe Sixpack, organizer of Philly Beer Week and the inspiration for PTW.

That first weekend, beginning April 20, already packs a punch. In addition to Startup Weekend, which will take place at University of the Arts, the Women in Tech Summit meets all day Saturday, April 21, and on Sunday, April 22, Indy Hall sponsors a block party on North 3rd Street from 1 to 8 pm. You can also get a peek into how the Philadelphia Eagles choose draft picks, find out if your IP is leaking, and mingle with Switch Philly judges Josh Kopelman, Ellen Weber and Mayor Michael Nutter, who will choose one entrepreneur in the competition for a major prize package. The complete schedule can be found here.

Source: Christopher Wink, Philly Tech Week
Writer: Sue Spolan

University City-based PalmLing concierge translation service lauches Kickstarter campaign

Flying Kite Media Tuesday, March 20, 2012

You are in a foreign country. You don't speak the language. Something awful happens. "I was in China," says Ryan Frankel, co-founder of PalmLing, a startup out of University City aimed at providing real time concierge level translation assistance to travelers at a modest daily cost. "I thought I could eat anything on the menu, but the next morning I was in a world of pain. It was a serious situation. I don't speak Mandarin. I staggered to the pharmacy. At that point, I would have given anything to have someone there capable of communicating on my behalf."

That was the lightbulb moment for Frankel, who connected with business partner Kunal Sarda back at Wharton, where both were pursuing MBA degrees. "We are helping international travelers navigate the complexities of a language barrier," says Frankel. A PalmLing subscriber calls an access number 24 hours a day and gets connected real time with a live translator who can do the talking on the traveler's behalf to a pharmacist or taxi driver, for example.

PalmLing has just launched a Kickstarter campaign to raise $25,000, which will be used to create a PalmLing mobile app. Right now, all it takes to get connected to a translator is a standard mobile phone and an access code.

The human capital intensive business requires live translators to sign up. Travelers can book PalmLing for periods of 10, 20 or 60 days, at a variable cost of $1.50 to 4.00 per day, depending on the length of the package.

"We went from zero to 1,300 translators in the last month without any advertising," remarks Frankel, who counts stay at home moms, retirees and ex-military among the legion of live assistants who get paid anywhere from $15 to 25 an hour. "We offer PalmLing for Hindi, Mandarin, and all Spanish speaking countries," says Frankel, who estimates coverage of about 200 million trips annually with those three languages alone. Frankel adds that those 1,300 employees were acquired at nearly zero cost.

Frankel and Sarda are also seeking partnerships with businesses to acquire customers in three core stages of travel: before the trip on sites like Orbitz and TripAdvisor, en route at the airport or in the airline magazine, and at the destination, working with hotels, transportation providers and local mobile phone companies.

Source: Ryan Frankel, PalmLing
Writer: Sue Spolan

Transforming the law school experience with ApprenNet out of Drexel

Flying Kite Media Tuesday, March 20, 2012

Students graduating from law school may be well versed in the doctrine, but have no idea how to put together an angel funding package or negotiate a divorce. Drexel University law professor Karl Okamoto is changing the way law is taught through his startup ApprenNet.

Okamoto, a Professor of Law and Director of the Program in Business & Entrepreneurship Law at the Earle Mack School of Law at Drexel, has already rolled out his engaging and gamified instructional program to about 20 law schools nationwide, thanks to initial grants from the National Science Foundation totaling $180,000 so far, with a potential million-dollar grant on its way this summer. Okamoto is assisted by recent Drexel law grad Emily Foote and developer Paul Tzen.

ApprenNet, currently in beta, is an interactive website that augments and expands on the classroom experience by redefining legal education as an apprenticeship. A student watches a client pose a question on a legal topic, then posts a video answer, finally getting to see an expert answering the same question. Others can view student answers, and the budding attorney gets a portfolio of video responses which can be shared with potential employers.

By the end of this semester, Okamoto estimates that a quarter of U.S. law schools will be using ApprenNet. "Professors struggle over how to insert practical training," says Okamoto. ApprenNet is hands off. All the instructor has to do is send a student to the website. The startup grew out of Okamoto's LawMeets program.

"The whole system relies on practitioners' participation," says Okamoto, who has been most heartened by the discovery of a huge pent up demand to provide teaching and feedback among practitioners the world over. Usually, in a guest lecture, students are surfing or sleeping, and are not engaged. The way ApprenNet works, says Okamoto, it takes only 10 minutes to record an expert video, and students are eager to get feedback from the experts.

So far, Okamoto has not sought revenue outside of sponsors who are excited to be in front of law students, like Practical Law Company and Bloomberg. "We have not yet charged any user for the exercise, but have been collecting data on what people are willing to pay," says Okamoto, who is building in the ability to charge users a small monthly subscription fee.

There is also potential to create ApprenNet for many other disciplines, like training food service workers, teachers, or even musical training. "We'll take care of law first, says Okamoto, "and then use it in lots of different places. Why can't we crowdsource violin?"

Source: Karl Okamoto, ApprenNet
Writer: Sue Spolan

Baiada Center expands to Baiada Institute, offers family wisdom at recent summit

Flying Kite Media Tuesday, March 13, 2012

The Laurence A. Baiada Center for Entrepreneurship announced today that it is expanding to become the Baiada Institute, a University-level institute within Drexel University. The Baiada Institute will pursue more seed capital, micro-grants, and Small Business Innovation Research grants.

Previously, Baiada functioned within the LeBow College of Business.

The parents of Mel, Mark, Mike and Matt Baiada must have been some kind of magic. The four siblings have found business success in very different fields. On March 8, the Baiada Center, named after the family patriarch, hosted The Brothers Baiada: 4 Faces of Entrepreneurship.

Mark Baiada founded Bayada Nurses, and has grown a home health care operation to more than 200 offices in 20 states. He was awarded Ernst & Young's Entrepreneur of the Year, which commended his tenet to think big, work hard, and show love.

Mike Baiada was one of Drexel's earliest students to receive dual business and engineering degrees. Mike's ATH Group fundamentally alters the air traffic control process, aiming to greatly increase timeliness and profitability. Mike, also a commercial airline pilot for United, says the secret to success is to determine process first, and then create minimal technology to make ideas a reality.

SolidSurface Designs is Matt Baiada's business. "When I was in grammar school, we had to walk two miles to get home. We would pass a lumber yard every day," recalls Matt. "There was a contractor there who had a whole lot of cash and was always peeling off bills. That was pretty impressive." Matt began by fixing up the Baiada family home, then founded a carpentry and cabinetmaking business that became SolidSurface, a 20,000 square foot manufacturing facility with 25 employees.

Mel, the youngest of the brothers, went into information technology. He sold his company Bluestone to Hewlett Packard in 2001 for over $350 million. His advice: passion is useless if there is no need for your product or service in the marketplace -- save your passion for long term sustainability. Mel is now managing partner at BaseCamp Ventures and President of Basecamp Business.

The early morning event, part of the Eye of the Entrepreneur series, drew a crowd of about 150.

Today's announcement was made possible by a $500,000 donation from the Barbara and Charles Close Foundation, $250,00 from Mel and Mark Baiada and $200,00 from Dick Hayne of Urban Outfitters, also a Drexel trustee. A behavioral laboratory planned for the new 12-story LeBow College of Business facility will foster experiential learning in sales and negotiations.

Source: Matt Baiada, Mark Baiada, Mel Baiada, Mike Baiada, Baiada Center for Entrepreneurship
Writer: Sue Spolan

New Philly Startup Leaders president: 'We are way closer to cracking the code than people think'

Flying Kite Media Tuesday, February 28, 2012

Bob Moul, the new head of Philly Startup Leaders, joked that he was ambushed into accepting the position. Termed "a recovering corporate guy" by interviewer Greg Bernabeo of Saul Ewing at last Thursday's PACT Expert Series Event with Philly Startup Leaders, Moul entered the startup world initially as a way to give back.

Moul, who literally began his career in the mailroom of EDS in 1981, advanced through the ranks, and got hired by SCT, which was purchased by Sungard for $650 million. Moul then moved to the far smaller Boomi. He went from managing 1200 people at SCT to 15 people at Boomi, but describes it as one of the happiest times of his life because he could wear so many hats.

Success followed Moul, who sold the Software as a Service integration provider Boomi to Dell in 2010. "After I sold Boomi, I finally had an opportunity to lift my head up," says Moul. "I was a little disappointed in what I saw. This region has so much potential, with so many raw ingredients. We have world class universities. It's a great city to work and live in. We have great entrepreneurs. I asked myself why it's not all coalescing."

Moul, who now serves as CEO of appRenaissance in addition to his PSL post, cited the Delaware Valley's checkered stats: "Our region is No. 3 in terms of innovation capacity, No. 4 in R&D expenditures, but dead last of the top 15 metro areas in terms of business creation and entrepreneurial activities."

Starting a year ago, Moul says he approached anyone who would have a conversation with him about the gap. A hundred meetings later with entrepreneurs, angels, VCs, and institutions, Moul reports an almost unanimous feeling that so much more could be done. "We are way closer to cracking the code than people think," says Moul.

In particular, Moul would like to see a bridge between friends and family funding and VC funding. Retooling the culture will increase the willingness of successful businesspeople to give back through mentoring and advising. "Try to lead by example, or pay it forward. The more you put out, the more you get in return," says Moul.

"Innovation is a messy thing. It's not a linear process. We need a culture where it's OK to take risks, and at the same time OK to fail. As entrepreneurs, we should get more efficient about how we do that by testing quickly and failing quickly, not eating up a ton of capital in proof of concept."

In response to one audience member, Moul advised the entrepreneur to validate first and code second.

Moul is encouraged by the proliferation of coworking spaces and incubators sprouting up in the area. "Entrepreneurs come together and atoms start bouncing off each other. New initiatives are created. There's support when mentors hang around."

Moul recommends a forum where businesses pitch problems to entrepreneurs, rather than the traditional format where entrepreneurs pitch to business.

Moul is already hard at work shaping the future of PSL, and just announced the creation of the PSL leadership team. Danielle Cohn will helm Public Relations; Brian Glick will be in charge of the new PSL Circles Program, designed to cluster like minded startups; and a new PSL University will be led by Bob Moore of RJMetrics. Tracey Wellson-Rossman will head PSL's new partnership program, and Tim Raybould, CFO of Ticketleap, joins as PSL treasurer.

Source: Bob Moul, PSL
Writer: Sue Spolan

Drexel engineers music, 3D technology innovations with separate Philly institutions

Flying Kite Media Tuesday, February 28, 2012

Drexel University looks at the entire region as an extension of its campus. Ideas flow like steam beneath Philadelphia's streets. Two professors in different departments are heading multidisciplinary teams that merge new technology with Philadelphia traditions.

In collaboration with the Academy of Natural Sciences, the plan to print 3D dinosaurs has already gained national attention. In the area of music technology, Professor Youngmoo Kim is developing the first app to do real time annotation of Philadelphia Orchestra performances. The Drexel-generated iOS orchestra app will be the first of its kind in the world.

Paleontologist Ken Lacovara is in the process of reanimating dinosaurs. Before you jump to the obvious Jurassic Park conclusion, there are a lot of steps in between. Lacovara, a paleontologist, has teamed up with Dr. James Tangorra in Drexel's College of Engineering to scan and print out 3D dinosaur bones.

Also on board is Drexel Mechanical Engineering prof Sorin Siegler, whose focus is biomechanics. "We don’t really know exactly how dinosaurs moved," says Lacovara, who wonders how a creature weighing 60 to 80 tons could move and trot. Not to mention lay an egg.

With a birth canal opening at two and a half stories in the air, and an egg the size of a volleyball, Lacovara wonders how the massive dino would withstand the stress of squatting and getting up. With the help of his colleagues, creating 3D models and working out the biomechanics will answer literally tons of questions.

Over in Drexel's METLab, whch stands for Music, Entertainment and Technology, Youngmoo Kim takes a break from a robotics demonstration to talk about his collaboration with The Philadelphia Orchestra. It started a few years ago, when Kim made his students sit through a classical concert. "Those without classical training said, yeah, that was nice, but I didn't get it," recalls Kim. It was around the same time the iPhone came out, so he and students undertook a project to create an app that would tell listeners about the performance in real time.

It was such a hit that Kim and students applied for and won the Knight Arts Challenge. While Kim cannot be specific about the date of the public rollout, he says it will be within the year. Perhaps the launch will coincide with the orchestra's 2012-2013 season opener this fall, but Kim remains mum.

Kim also says that not every concert will have an accompanying app, so concertgoers who find smartphone use distasteful can choose performances without the tech overlay.

"There used to be a brouhaha over supertitles at the opera," says Kim, who has dual training in music and engineering. "Ten to twenty years later no one cares. If you go to an opera now and there are no subtitles, something seems wrong. Likewise, 10 to 20 years from now, no one will care if someone uses a phone at the symphony."

Source: Ken Lacovara, Youngmoo Kim, Drexel University
Writer: Sue Spolan

Vascular Magnetics' $7M Series A round shows impact of Science Center's QED program, company's team

Richard Woodward Tuesday, February 28, 2012

Fresh off a $7 million round of Series A financing, Richard Woodward says without hesitation that the company he co-founded, Vascular Magnetics, would not exist without the first-of-its-kind QED Proof of Concept Funding Program at the University City Science Center.

A veteran executive from the biotech sector with extensive startup and early stage experience, Woodward was semi-retired and consulting in 2009 when he learned about the QED program, which assesses white papers on promising technologies and links the best with a business advisor and the possibility of funding. In the case of Vascular Magnetics, Woodward was paired with Dr. Robert J. Levy of The Children’s Hospital of Philadelphia and they were awarded $200,000 by the QED program in 2010. The result was CHOP’s first spin-out company, focused on developing its proprietary, magnetically targeted drug delivery system for the treatment of peripheral artery disease (PAD).

“I was joking with my wife that this would have been a whole lot easier when I was 40,” Woodward says. “She said that when I was 40, I wouldn’t have had any idea what to do.”

In one respect, Woodward has come full circle with CHOP. His daughter had a medical condition that incapacitated her for her a couple years and a physician from CHOP helped contain the ailment, allowing Woodward’s daughter to pursue a career working for another children’s hospital.

“Dr. Levy, I have so much respect for that man,” says Woodward, the COO, of the company’s founding scientist. “He’s brilliant and a very prolific inventor, with something on the order of 31 issued patents. He probably has another 30 in various stages of the application process.

“It’s fairly rare to find an academic like that.”

The entire Series A round was funded by Wayne-based Devon Park Bioventures, whose general partners Christopher Moller and Marc Ostro will join the Vascular Magnetics board and rounds out a compelling case study of the potential of Greater Philadelphia's entrepreneurial ecosystem. Funds will allow the company to complete clinical trials, which are expected to begin in 2014. While the company will stay “aggressively virtual,” according to Woodward, there’s a good chance it will hire up to two more individuals. Also, the company is planning on maintaining workspace in the Science Center’s Port Business Incubator.

PAD effects about 30 million in Europe and North America, including 10 million in the U.S. Vascular Magnetics’ system aims to provide a more durable and effective treatment than angioplasty, grafts and drug eluting stents. It does this by combining biodegradeable, magnetic drug-loaded particles, a magnetic targeting catheter and an external device for creating a uniform magnetic field.

Woodward says some of Levy’s team at CHOP will be involved as consultants.

“These are some of the people that have developed the whole system. It’s important to have them around.”

Writer: Joe Petrucci
Source: Richard Woodward, Vascular Magnetics

Photos courtesy of Vascular Magnetics
Richard Woodward
Dr. Robert Levy

University City's fast-growing Leadnomics offers hiring bonuses for developers, media buyers

Flying Kite Media Tuesday, February 21, 2012

Philadelphia based Leadnomics is growing so fast that it's hard to project how big the lead generator will get this year. Since its inception in 2007, the company has grown 3,932%, according to Inc Magazine, which in 2011 ranked Leadnomics No. 48 in advertising and marketing companies nationwide.

Stephen Gill, Leadnomics CEO, says projections for 2012 are difficult due to rapid growth, but notes that there are now over 25 full time employees at the lead generation company. "The conversion process is an art and a science," explains Gill, who works with a vast national network of hundreds of lead buyers. "There are a lot of companies in marketing, but we are a marketing and technology company," says Gill. "Our model is like Lending Tree or Service Magic." Customers are captured via search marketing and are led to a Leadnomics powered page. "All of our customers are delivered in real time."

Leadnomics, with $5.8 million in reported annual revenue in 2010, works with nationally scalable companies in insurance, financial services, education and brand partnerships, reaching tens of thousands of potential customers a day, according to Gill, who plans to move into mortgages, senior care and home services in the coming months.

Gill has been working in the interactive world since 2003, starting his first business, which provided online tech support, while still in high school. At Rowan University, Gill says he stumbled into marketing. "I started doing paid search marketing for clients in dating and eCommerce." He met Leadnomics co-founder Zach Robbins at Rowan, and the duo moved from New Jersey to Philadelphia in 2009.

Today's expansive offices in the Cira Center are a vast improvement over previous incarnations, which included a home based office as well as workspace leased from a law firm. The 10,000 square foot space allows for company growth. "I hope we will have enough room here," says Gill. "We try to scale the business. People are not proportional to revenue." Nonetheless, Leadnomics is offering hiring bonuses for developers and online media buyers, which it is actively recruiting.

Gill attributes the company's success to the combination of proprietary technology and a marketing background. "Conversion is key," he says of leads. "Consumers want to get to a site that's trusted and safe. They are searching for a solution to a problem. The customer first sees you, and you bring them down a funnel. You get them comfortable talking to you before you ask for a lot of personal information."

Gill also looks forward to expanding the company's presence in New York City, where he plans on expanding the satellite sales office to accommodate a greater number of New York based clients.

Source: Stephen Gill, Leadnomics
Writer: Sue Spolan

Philly retail rewards startup Lokalty gains traction, triples participating merchants

Flying Kite Media Tuesday, February 07, 2012

The pleasant sound of a Lokalty chime will soon be audible all over University City. Philly start up Lokalty, which rewards frequent local shoppers and cross promotes merchants, is now expanding westward from Center City. Over a dozen UC merchants have signed on since the company crossed the banks of the Schuylkill about a week ago.

Launched in October 2011 by Penn grads Balu Chandrasekaran, Philip Tribe and Bipen Sasi, the name Lokalty is derived from Local plus Loyalty. "These days, business names are influenced by a domain name search," says Chandrasekaran, who changed the C to a K. But the uniqueness of the name is actually a good thing, adds Tribe, who comes from a product design background. "Lokal business means it's in our network," he says. The company tagline, "Keep it Lokal," has become a bit of a marketing boost.

Lokalty membership is not tied to a credit card, unlike LevelUp, which isn't a direct competitor except in the area of retail counter real estate. Both companies use a dedicated smartphone built into a plastic box to read customer QR or bar codes.

Lokalty is a cloud supported consolidated version of all the separate customer loyalty tags people carry in wallets and on keychains. The idea is that when you earn points for shopping at one Lokalty business, you can reap rewards at any business in the Lokalty network. Buy enough coffee at Elixr and get free food at Manakeesh.

Growing the company has been tricky, says Chandrasekaran, who says he and his partners have taken on a difficult task, marketing to businesses and consumers at the same time. "It's the classic chicken and egg problem." While Lokalty means marketing for retailers, "most small business owners would rather hear sales pitches that address the cost side instead of the revenue side."

The business benefits of Lokalty participation may take time, but Chandrasekaran cites the example of newcomer Spread Bagelry, which saw several dozen new customers directly related to Lokalty participation. The participating merchant is privy to valuable metrics, and can get to know customers on a first name basis. Lokalty, says Chandrasekaran, is a year round marketing program, as opposed to less frequent offers like discount coupons and seasonal sales.

The fully bootstrapped Lokalty is set to release a new version of its smartphone app within the next few weeks, according to Tribe, and the company, which launched with 7 merchants and is now up to 29, hopes to achieve critical mass via placement in dozens more businesses around Philadelphia and the Main Line.

Source: Balu Chandrasekaran, Philip Tribe, Lokalty
Writer: Sue Spolan

Got entrepreneurial pain? Wharton provides soothing relief at upcoming conference

Flying Kite Media Tuesday, February 07, 2012

There are a couple of phrases that accompany just about every entrepreneurial gathering, and "pain point" is a biggie. On February 17, The Wharton School will host the all day conference, Turning Pain Points into Opportunity. Miriam Raisner, conference VP and a Wharton MBA candidate herself, says the gathering is meant to broaden the idea of entrepreneurship.

It's not all about the app. While most people these days equate start ups with high tech, Raisner says brick and mortar is still an avenue for entrepreneurs, and she cites recent efforts in the world of fashion (like Kembrel, created by Wharton students), as well as in health and wellness. Each of those topics will have its own panel of experts at the conference, and Veeral Rathod, co-founder and president of men's apparel company J. Hilburn will be one of the keynote speakers.

Raisner is also excited by a panel that teaches people to monetize their expertise, either as a speaker, a consultant, or by creating a business. "It's really helpful for people to have a frame of reference as to how different types of businesses grow," says Raisner, who says participants in the conference's shark tank will get critical feedback from venture capitalists, and possibly even get funding. There's also a startup fair, with fifty companies signed up so far.

Raisner expects around 400 attendees to the 16th annual conference which will be held in Center City at the Ritz-Carlton Hotel, with reduced rates for members of the Entrepreneurship Club, students and Penn alumni.

Source: Miriam Raisner, Wharton School of The University of Pennsylvania
Writer: Sue Spolan

DreamIt startup accelerator in Israel to be first-of-its-kind hybrid program

Flying Kite Media Tuesday, January 24, 2012

It is now time to look toward the land of milk and honey for the latest in tech. "Israel is famous for its technology innovation, though many companies have difficulty expanding into the US and global markets," says Mitchell Golner, Managing Partner of DreamIt Israel, the latest expansion of the Philadelphia based startup accelerator. After adding a New York City program in 2011, DreamIt Ventures goes global in 2012.

On January 17, applications opened up for Israeli entrepreneurs. Noelle McHugh, DreamIt's office manager, says companies have already started applying, and DreamIt expects to choose five Israeli startups to accompany 10 US-based entrepreneurs this summer in Manhattan.

Golner, who has been living in Israel, says DreamIt has been interested in developing a program in the Israel market for a while. "We are focused on helping Israeli startups expand in the US and in global markets. We will consider a wide array of companies that can fit the lean startup model. Most are in the Internet and mobile space and include B2B an B2C businesses." According to Golner, the new program is a hybrid and the first of its kind in Israel. DreamIt Israel will be based in the environs of Tel Aviv. A specific location has not yet been announced.

Companies will spend one month in Israel and then travel to the US to spend three months in New York. "After the NYC program, when the companies return to Israel, they are offered a workspace for up to 2 months," adds Golner. "The curriculum, coaching, community, and other fundamental aspects of the DreamIt program are consistent across the Israeli program and the NYC program, with specific curriculum elements for the Israeli startups in the first month."

The deadline to apply to the program is early March. The Israel program begins April 15, and participants start the New York segment on May 14, returning home in mid August. There will be two demo days for the overseas participants: one in New York and one back home. The Israel program wraps up in October.

Source: Mitchell Golner, Noelle McHugh, DreamIt Ventures
Writer: Sue Spolan

Science Center-housed biotech startup Ossianix a shark of innovation, hiring 10

Flying Kite Media Tuesday, January 17, 2012

The shark, it turns out, has an immune system worthy of human envy. Biotech startup Ossianix, located at the University City Science Center, is developing groundbreaking immune system treatments based on antibodies found specifically in the shark. "In terms of evolutionary biology, the shark has one of the the simplest immune systems. It is a much smaller antibody structure than in humans, but still very potent," says Ossianix founder and CEO Frank Walsh. "You can engineer that structure to attack a whole variety of pathologies."

Ossianix just announced a strategic investment by global pharmaceutical giant H. Lundbeck A/S in the form of a Convertible Promissory Note. While the exact dollar amount has not been disclosed, Walsh says the investment will cover the next three years in the life of his very early stage research company. Ossianix hopes to grow to 10 employees by the end of 2012. Walsh is also seeking standard funding from several pharmaceuticals.

After leaving Wyeth following its takeover by Pfizer, Walsh decided to start his own company, naming it after Ossian, a mythological Celtic figure. Says Walsh, "When you start a company, you can come up with a name aligned with the technology, or something unaligned so if you change strategic direction, you don't have to change the name."

The product Ossianix hopes to generate will be made entirely of synthetic compounds based on the naturally occurring structures in the shark. Walsh reports that while there have been a number of academic studies focusing on shark antibodies, Ossianix is the only biotech pursuing the application from a therapeutic point of view.

The shark based antibody is applicable to a variety of diseases, says Walsh, and initial research is two areas. "The first is being able to deliver antibodies to the brain in much higher concentrations than can be achieved by current technologies. There's a lot of interest in the pharmaceutical industry to attack the processes in Alzheimer's, MS and Parkinson's disease. Central nervous system disorders are a major area of focus," says Walsh. The second area is in ALS research, creating a strategy to build muscle to combat the loss of power associated with the ailment also known as Lou Gehrig's disease.

As far as larger trends in pharmaceutical research, Walsh says that for the first time in decades, R&D spending at pharmaceuticals like Pfizer is on the decrease. As a result, the big players are becoming much more dependent on outside companies for early innovation. "For me, that's one of the exciting things about starting Ossianix, building a credible small company in that early space."

Source: Frank Walsh, Ossianix
Writer: Sue Spolan

Wharton MBA candidates size up online clothes shopping experience

Flying Kite Media Tuesday, January 10, 2012

Size Seeker, you are blowing my mind. A new company about to launch out of University City has the potential to vastly improve the online clothes shopping experience. "Only about 7 percent of clothes are for sale online," says Ian Campbell, co-founder of Size Seeker, which uses Xbox 360 Kinect technology to find correctly sized clothing for online shoppers.

Size Seeker will officially launch at this month's Philly Tech Meetup. "It's not necessarily bad to be provocative when you are an entrepreneur," says Campbell. "Retail is about entertainment and being edgy." Campbell and partner Mona Safabakhsh met in the Wharton MBA program, where they are both currently enrolled.

"We each had clothing in closets that we'd bought online," recalls Campbell of the company's inception. "It's hard to find what size you are. Due to a vanity sizing problem, you don't know if you're a medium or a large. We both had clothes in our closet that were past the 30 day return window. We'd ended up with clothes that were never worn."

Settling upon the Kinect for Xbox 360 as a means to measure people accurately in the comfort of their own home, Size Seeker built a program that captures the shopper's entire body in a matter of seconds. Campbell compares that with other programs that may take five minutes or longer to achieve the same results. Partnering with TC Squared, Size Seeker was able to create a database of 100,000 body scans, bringing the accuracy of future scans to within an inch.

Using the Xbox for Size Seeker gamifies fashion, says Campbell, who adds that the online clothing industry shows enormous potential, growing 20 to 25 percent over the last 10 years.

Size Seeker is now looking to hire developers for the data platform. "We are a B to B company," explains Campbell. "We are essentially helping brands and retailers reduce return costs and convert new customers." Size Seeker's technology may have the power to bring the clothing industry up to speed with items such as computers, of which 50 percent are now sold online.

Source: Ian Campbell, Size Seeker
Writer: Sue Spolan

Startup activity gains momentum in 2011

Flying Kite Media Tuesday, December 20, 2011

It's the classic impulse: make lemonade out of economic lemons. 2011 was the year of the startup. When the job market slumped, ingenuity kicked in, and entrepreneurs had places to gather. The Quorum at the University City Science Center opened to provide a common space for entrepreneurs, hosting events like Philly Tech Meetup, which drew increasing crowds to its monthly demos of startups.

Along with the Science Center's continued support of entrepreneurs, Ben Franklin Technology Partners of Southeastern Pennsylvania provided funding for many local companies including AboutOne. BFTP's Navy Yard neighbor GPIC has stepped in to centralize the future of energy efficiency.

Bob Moul, of Dell Boomi, took the helm at Philly Startup Leaders, which is re-tooling its mission while putting together a pair of fruitful Philly Startup Weekends.

DreamIt Ventures 2011 gave a boost to 14 fledgling companies, including frontrunners Cloudmine, ElectNext, SnipSnap, Metalayer, and Spling, all to remain in Philadelphia. Yasmine Mustafa, a past DreamIt participant, and most recently a Philadev Ventures member, recently sold her startup 123LinkIt to national content syndication network Netline.

Writer: Sue Spolan

Innovation in 2011 stretched beyond tech to retail, media and civic engagement

Flying Kite Media Tuesday, December 20, 2011

Innovation in Philadelphia: it's not just all about tech. Government, retail, media and the way we work and live made major strides forward in 2011.

The University of the Arts' Corzo Center for the Creative Economy funded arts entrepreneurs this year, and businesses like Little Baby's Ice Cream, Kembrel, Gritty City Beauty, LevelUp and ReAnimator Coffee are just a few examples of the retail revolution underway in Philadelphia. Storably and Inhabi launched to re-imagine rentals. Milkboy Coffee expanded from Ardmore to Center City, and made plans to move its recording studio downtown as well.

Crowdsourced civic change is a major trend in Philadelphia's innovation efforts. We were named a Code for America city the second year in a row; programs like Open Access Philly and Change By Us live at the intersection of technology and civic engagement, with government stewardship by Jeff Friedman. Adel Ebeid arrived to lead the city's newly formed Office of Innovation and Technology in increasing broadband penetration.

TEDxPhilly, Young Involved Philadelphia, Philly Tech Week, PhillyStake, the Philadelphia Geek Awards and IgnitePhilly mixed business with pleasure, merging crowds and companies in festive settings.

Gaming and gamification continues to trend; local efforts include Cipher Prime, Port 127, Play Eternal and networking group PANMA.

Incubators and coworking spaces surged, with Indy Hall making expansion plans for K'House, Philadev's Musemaka, OpenDesks, Startup Therapy, and Novotorium in Langhorne.

In media, Wharton Publishing went all digital; Ryan Seacrest opened The Voice studio at CHOP; G Philly, Hidden City's Daily and Generocity launched; WHYY's Newsworks grew; and if it was relevant to technology, Technically Philly covered it all this year, never missing a beat.

Writer: Sue Spolan