University City : Innovation + Job News

As a young fashion designer out of Penn State, Scott Latham learned how hard it is to reach the marketplace. Now he is founder and CEO of Colabination, a site he describes as an Etsy for independent streetwear apparel brands.
 
Latham launched the company less than a year ago, and found a welcoming home at the University City Science Center’s Quorum. Today, Colabination employs 16, offers more than 200 hard-to-find streetwear labels from around the world, and recently moved into its own space in Fishtown.
 
The enterprise boasts a three-member fashion buying team -- they scour the globe looking for cool independent brands that represent quality and value (most items are under $100), and have "a great story to tell," which often means a socially or environmentally conscious mission, a unique aesthetic or intriguing origin tale.
 
The site charges a 30 percent commission for every sale in exchange for its web-optimized sales platform and sophisticated marketing. The brands do their own order fulfillment.
 
Latham is effusive in his praise for the help he got at Quorum. Free workspace alone was huge for the startup, and they benefited mightily from the camaraderie and networking opportunities. He recruited his chief technology officer at Quorum. Upstairs neighbors Nick Siciliano and Ben Pascal, founders of Invisible Sentinel, became trusted mentors. And he still can’t get over the day last fall when Science Center President Steve Tang introduced him to "Jim," who turned out to be then Mayor-Elect Jim Kenney.
 
"Quorum was a huge stepping stone for us," he enthuses.
 
For now, Colabination is focused on streetwear for millennials, but Latham hopes to expand to a broader selection of men's and women’s apparel. The company is testing its XCollection, now in beta, which allows customers to shop their personally curated brands with an algorithm that reacts to their preferences.  
 
The goal is to be "a destination to discover new brands for all types of products and shop them on demand," he concludes. "A modern day mall.”

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

For years, the FirstHand program has brought Philadelphia schoolchildren to the University City Science Center, aiming to spark interest in the STEM disciplines of science, technology, engineering and math. Now FirstHand is adding a professional development program targeting middle school teachers to further boost STEM learning.
 
The goal of the pilot FirstHand Institute for Educators is to integrate the classroom with the 21st century science- and technology-oriented workplace. For three days (August 16-18) about 14 teachers from Philadelphia School District middle schools will meet with Science Center scientists, technologists and entrepreneurs, taking what Danielle Stollak, FirstHand program manager, calls a "deep dive into careers here." The participants will visit working labs at the Science Center’s Port Business Incubator and, working in teams at the FirstHand Lab, develop projects for their students that can inculcate the real-world skills that employers are looking for.
 
Those skills are not all technical -- the focus will be on what educators call the "Four Cs": critical thinking, communication, collaboration and creativity.

"Technical skills are teachable," says FirstHand Director David Clayton. "These are experiential."
 
The expectation is that the teacher teams will implement their projects in classrooms this fall as part of ongoing engagement with FirstHand, bringing their students to the Science Center and reconvening in January. A further benefit, adds Stollak, is the multiplier effect of training teachers, who not only reach many students, but can also become "brand ambassadors" and mentors for other educators.
 
This year’s pilot program, supported by a grant from the William Penn Foundation, offers participants continuing education credits and a modest stipend. Teachers who are interested should email Stollak. 
 
Meanwhile, FirstHand continues to challenge young minds with Taste Test, a new summer program that is introducing 15 youth from Sunrise of Philadelphia to molecular gastronomy and culinary innovations through active experimentation.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

Quantitative Radiology Solutions is the latest company to hang its shingle at the University City Science Center's Port Business Incubator. 

By taking up residency at the Port, Quantitative gains access to an extensive network of resources to grow its business. Quantitative is also a participant in the Phase I Ventures Program, which allows early-stage companies to test their business feasibility in a low-risk environment. Quantitative received $213,000 in direct financing from P1V and additional grants from the National Institutes of Health and the National Science Foundation.

The startup is developing a technology that promises to disrupt radiation therapy and treatment for cancer patients. We asked Joe Camaratta, Quantitative's president and CEO to tell us more.

What is your big idea? 

Quantitative Radiology Solutions helps physicians make optimal treatment decisions through analysis of medical images. Our initial product, Automatic Anatomy Recognition (AAR), supports recognition, delineation and quantification of anatomical objects and diseased tissues in multiple body regions using CT, PET/CT and MR images. 

Unlike existing automatic segmentation approaches that work on only three to five objects in a specific body region and require an unacceptable number of manual adjustments, AAR recognizes and delineates all anatomical structures in a given body region accurately and efficiently.  

What is your origin tale? 

The company was [founded by] Drs. Jayaram Udupa (computer science) and Drew Torigian (radiology) at the University of Pennsylvania.

Dr. Udupa was developing a novel image segmentation algorithm that used hierarchical modeling and machine learning techniques for object identification and delineation. Dr. Torigian, who focuses on quantification of disorders using computer-assisted techniques, applied the algorithm in body fat quantification and obstructive sleep apnea to demonstrate its usefulness in radiology.  

Dr. Udupa presented the new approach during a seminar to physicians and physicists from the Department of Radiation Oncology, and was approached by Drs. Peter Bloch (medical physics) and Charles Simone (radiation oncology) about its application in radiotherapy planning. Drs. Udupa and Torigian contacted the Penn Center for Innovation and created Quantitative Radiology Solutions as part of the UPstart program to commercialize technology. I joined as president and CEO to lead these efforts. 

What is ahead for Quantitative Radiology Solutions?

Our initial application area is radiation therapy planning. We believe there are applications of our technology in medical oncology to help assess tumor response to therapeutic interventions. There are also potential applications in surgical planning and 3-D printing using medical images. 

Why does the marketplace need your company? 

The global market for medical imaging is forecasted to reach $50 billion by 2020, and advanced modalities such as CT, MR and molecular imaging will account for 50 percent of that market. The rise in the number of imaging exams and number of images per exams necessitates new approaches to augment a physician’s ability to effectively evaluate exam results in a timely manner. A quantitative approach to medical imaging interpretation can improve early disease diagnosis, standardize assessment of disease response to treatment, and enable the discovery of new disease biomarkers. 

What is your elevator speech? 

We combine 75 years of expertise in clinical imaging, computational theory and algorithm development, and product development and commercialization [experience] from industry-leading organizations in medical imaging. When applied to the field of radiation therapy planning, our approach enables a robust standalone software solution that significantly improves the speed and accuracy of imaging contouring to support initial treatment planning and adaptive radiotherapy.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

Alien lifeforms. Time machines. Comic books.
 
It's not the usual University City Science Center material, but the Center's Esther Klein Gallery is greeting summer with a lighthearted, farcical exhibition that spans 3,000 years and promises to "offer some answers to those who are willing to suspend reality and take a trip into the future."
 
Angela McQuillan, the gallery curator, agrees that the show is "more imaginative and fun. There's not a lot of real science going on."
 
The sci-fi and comic book-inspired exhibition features the work of Philadelphia artist Pat Aulisio and New York artist Josh Burggraf. The two have created a multi-media exhibition that incorporates sculpture, video and a special-edition printed copy of the "scientific journal" Intergalactic Geographic, which will be available for sale. The farcical publication features work by "the future's galactic journalists, photographers, holographers, dark mirror reporters and primetime superstars."
 
A fan and hobbyist in Philly's comic book scene, McQuillan was very familiar with the collaborators. Aulisio is a local artist and educator primarily focused on comics featuring hobbies such as amateur time travel. Burggraf works as a commercial animator and storyboard artist, and is editor of the Astro Plus Press where he constructs alternate personal universes on paper, the web and on screen.

According to McQuillan, comic books and science fiction "can be a portal to real science." And she has another motive in mounting the show: "Philadelphia has a big scene of people who make comic books and self-published art books. I wanted to draw attention to that scene and bring it to the Science Center."
 
Intergalactic Geographic Retrospective launches Thursday with an opening reception from 5 to 7:30 p.m. at 3600 Market Street. It closes Saturday, July 30 with a closing reception from 5 to 8 p.m. at Innovation Plaza, the Center's pocket park located on 37th Street between Market and Chestnut streets.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

The One Health Company is sending clinical trials to the dogs. And cats. And horses.

The startup, a participant in the University City Science Center Digital Health Accelerator, offers a new model of contract research by conducting pre-clinical trials on already ill patients: aka peoples' pets.

The science behind the idea is strong, says founder and CEO Benjamin Lewis. Disease induced in lab animals is often a poor proxy for natural human disease. Currently, 92 percent of animal cancer trials fail in people.

But pets, many of them genetically similar to humans -- and who typically share our environment -- are ideal proxies for 350 natural human diseases. Lhasa Apsos and male cats develop bladder stones. Poodles are frequently afflicted by cataracts. Golden Retrievers get Non-Hodgkin's Lymphoma. Horses suffer from osteoarthritis.

The approach, says Lewis, is also far more humane that inducing disease in lab animals.

"We have so many sick animals," he says. "Why create more so we can kill them and study them?"

One Health operates out of 350 specialty animal hospitals across the United States. Founded only this year, it already has 450,000 animals in its database and expects to have millions by the end of the year.

The company is currently conducting two trials. Details are proprietary, but their testing is mostly in cancer and endocrine diseases. One Health will test only for efficacy of pharmaceuticals, biologics, injectables, large molecules, medical devices and diagnostics. Testing for toxicology or safety is far too risky for client-owned pets.

Animals enrolled in One Health clinical trials remain with their owners and stay at home for care, returning to the hospital for evaluation by veterinary specialists, rather than being shipped to a lab or a longterm veterinary clinic. At the conclusion of the study, the hope is that the animal is cured or its symptoms ameliorated.

"I’m not asking anyone to do anything I haven’t done with my own pet," adds Lewis. One of his three rescue dogs -- Lulo, a Doberman -- participated in an osteosarcoma trial three years ago. Lulo lost a leg, but is going strong three years later. The prognosis is usually just three months.
 
WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

In Greek, "telesis" means "planned progress." Or as Maurice Hampton puts it, "'progress consciously planned and produced through intelligently directed effort.' Which characterizes how we get our work done at Telesis Therapeutics." 

Hampton is founder of the startup which is based at the University City Science Center's Port Incubator. The early-stage life sciences company is working to develop and license its first acquisition, "TTL-315," a promising cancer drug discovered at the Lankenau Institute for Medical Research.

"What I figured out is that molecules don't start out in [clinical trials.]," says Hampton. "They start out in the lab."

But the journey from lab to saving lives is a long, risky and expensive one. Telesis' role, he explains, is to identify, develop, de-risk and ultimately license the drug to a big pharmaceutical company that will conduct later-stage clinical trials, obtain FDA approval, take the medicine to market, and into the hands of patients in need. It's a process that takes years and millions of dollars, accelerated and made less risky by the work of the team at Telesis.

TTL-315 was developed to treat solid tumors such as pancreatic and triple negative breast cancers.

"Telesis Therapeutics preclinical, bench and animal, data for TTL-315 was published this past February 2016 in Oncotarget, a peer-reviewed medical journal focused on oncology," explains Hampton. "Preclinical efficacy results were positive: It worked! Preclinical toxicology reports were also positive -- a good sign -- and bode well for TTL-315's safety profile, a critical consideration in drug development."

The young company is pursuing a National Cancer Institute SBIR grant application and planning outreach to big pharma companies and other local funding sources to secure the necessary dollars to continue the preclinical research program. 

Hampton is ideally suited to the task: A serial entrepreneur, he has an MS and MBA, two years of medical school and years of international and domestic experience working at big pharma on blockbuster drugs including Prilosec  and the biologic Enbrel.

The lifesaving potential of TTL-315 is huge. The drug is initially aimed at pancreatic cancer, the fourth leading cause of cancer deaths in the U.S.  Eventually it could treat triple negative breast cancer,  lung and liver cancers. The potential payoff also could be huge. Current forecasts for the drug, at the time of launch, are estimated to be under $100 million in year one, growing to over $2 billion by the sixth year.

With the drug still in its infancy, Hampton takes the long view.

"At Telesis Therapeutics, we realize that this is not a sprint, it is an endurance run," he insists.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

Entrepreneurs interested in "long -horizon" technologies -- those that require significant development and/or regulatory approvals in sectors such as healthcare, materials or energy -- have a new option for obtaining funding, expertise and other resources.
 
The University City Science Center's Phase 1 Ventures Program (P1V)  has emerged from stealth mode to widen its net and offer support to startups so new they might not even yet have names.
 
"Phase 1 Ventures serves the space in between our QED program (which provides resources to promising projects that are being developed within the academic setting) and our Port Business Incubators (which provide resources to startup companies that have already raised financing)," explains Science Center spokesperson Kristen Fitch. "P1V helps to 'road test' commercially relevant technologies outside the academic setting and to give them a chance to build management and raise funding."
 
Since P1V was soft-launched as a pilot in mid-2015, the program has supported these ventures, with several more expected to begin this year.
 

• BioSignal Analytics uses machine-learning techniques to interpret medical signals such as electrical brain signals. The technology is from Temple University. 
• LytPhage is developing a biotechnology that it hopes will replace chemical antibiotics in the fight against resistant bacteria. The technology is also from Temple.
• PolyCore Therapeutics is developing a new drug to manage the side effects of treating Parkinson's and other neurological diseases. The technology is from Drexel University and Rutgers University. 
• SDMI Inc., a startup formed by Dr. Chao Zhou from Lehigh University and Robert Michel, is developing a technology that will improve the speed and quality of eye exams.
• A team including Dr. Oscar Perez from Temple University and Science Center Entrepreneur-in-Residence Matt Handel is working on a treatment for psoriasis.
• A team including Dr. Joseph Freeman from Rutgers University and Science Center Entrepreneur-in-Residence Russell Secter is working on a technology for improving bone healing. 
• A team including Drs. Michael Zdilla and Stephanie Wunder from Temple University and Science Center Entrepreneur-in-Residence Grant Chapman is working on a technology to improve the performance of lithium ion batteries.

P1V initially provides up to $25,000 and a semi-customized package of resources including facilities, funding, management expertise, and professional services in areas such as intellectual property, regulations, reimbursement, market evaluation, grant preparation and financial management.
 
Once successful in securing non-dilutive financing (capital that does not affect its ownership), participants become eligible for Phase 1 financing from P1V -- typically $150,000. Phase 2, typically $300,000, will be available to teams that subsequently secure follow-on financing.
 
According to Fitch, PolyCore has become the first company to transition to Phase 1 and will receive up to $250,000 to further its development of pharmaceutical treatment for Parkinson’s symptoms. The company secured funding for its project -- through its collaboration with Drexel University -- from the Wallace H. Coulter Foundation. 
 
"There are plenty of options for the growing software and digital sector, but not enough opportunities for long-horizon technologies," said Science Center President Steven Tang in a statement. "These are the technologies that have historically been the cornerstone of our region’s economy."

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

With limited access to screening, staggeringly few breast cancer patients in developing countries are diagnosed at the early stages of the disease, when it is most curable.
 
UE Lifesciences, a University City Science Center company, is working to meet that challenge with a low-cost, portable breast exam device.
 
Mihir Shah founded UELS in 2009 after several friends and family members were diagnosed with breast cancer. In April 2015, the FDA cleared the iBreastExam, a hand-held device that is painless, radiation-free and delivers accurate results in less than five minutes for less than $2 per exam. A few months later, UELS raised $3 million in equity funding. Now the company is using the capital to fabricate the device in Mumbai and scale it across India. Shah hopes to reach one million women there by the end of the year, though "even that would be a drop in the bucket," he says.
 
"iBreastExam is a game-changing technological breakthrough for countries and regions with rising breast cancer levels, most cases detected at late stages, and limited to no access to early detection for most women," explains the company on its website. "iBreastExam harnesses the power of innovative sensor technology, software computing and smartphone revolution, such that a doctor or any health-worker can offer objective and effective breast examinations, with ease and comfort."
 
The portable device is UELS's second invention. Its NoTouch Breast Scan, cleared by the FDA in 2012, is a contact-less and radiation-free screening tool, targeted at certain categories of women, including those at high risk for breast cancer.
 
Science Center spokeswoman Kristen Fitch calls UELS a poster child for the campus. Its core sensor technology was invented at Drexel University. The Science Center supported early prototyping through its QED program. UELS is also a graduate of the Center’s Digital Health Accelerator and continues to work out of the Center.

"They've been very flexible with the use of space, subsidized rent and great introductions to people," enthuses Shah.
 
Besides the equity funding, Shah reports that UELS has raised $1 million-plus in grant funding and $1.5 million in revenue.

"We are just getting started," he says. "We are looking to broaden our innovation portfolio and tap the huge unmet need for highly prevalent cancers in underserved markets. UELS is now a 30-person organization spread over two countries and growing fast."
 
WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

As high school seniors in their hometown of Vancouver, Miranda Wang and Jeanny Yao had some big questions -- and answers -- for a planet that produces enough plastic every year to circle itself in Saran wrap four times over.

Yao recently graduated from the University of Toronto and Wang is finishing her senior year at the University of Pennsylvania, majoring in Biology. Together they founded BioCellection. Now their team (which also includes Alexander Simafranca, Eric Friedman and Daniel Chapman) is the first undergraduate team ever to take the $30,000 grand prize at Wharton’s annual Business Plan Competition. And that's only the beginning: They also took home the Wharton Social Impact Prize, the Gloekner Undergraduate Award, the Michelson People’s Choice Award and the Committee Award for Most "Wow Factor." No other single team has ever taken five prizes in the competition.

Wang and Yao began studying riverside soil samples back in high school. They wanted to find out what the ecosystem itself might be doing to survive pollution from plastics. Traditional plastic products are made from fossil fuels, which come from carbon. Humans run on carbon, too -- our source is glucose.

"Could there be bacteria that have evolved with plastic chemicals as their carbon source?" Wang recalls wondering. "The answer is yes…Nature is very much evolving to recover itself. There is a solution in this biology, it just needs to be tapped into. Potentially this could be a large-scale commercial technology used to clean our drinking water."

Wang and Yao focused on how bacteria could be harnessed to break down potentially carcinogenic components of some plastics (like phthalates) that aren’t otherwise biodegradable. Their work won them the 2012 National Commercialization Award at Canada’s Sanofi BioGENEius Challenge and led to a popular 2013 TED talk.

In the labs at Penn, that work grew into BioCellection.

"Instead of tackling derivatives or additives in plastic, we’re [now] tackling the polymer of the plastic itself," explains Wang. "What if we can take this really big problem of the polymer, and try to solve it on a modular basis?"

BioCellection developed a way to engineer bacteria that produce an enzyme which, when combined with problem plastics in a proprietary portable chemical process, can convert that plastic into water and carbon dioxide. This patent-pending technology is still about two years away from the field, but its future application in plastic remediation at landfills, industrial sites, oceans and beaches could be tremendous, with annual revenue projected to reach $100 million by 2020.

A little further down the road in their business model, BioCellection hopes to launch a centralized processing plant that will use this enzyme to convert discarded plastics into a bio-surfactant necessary for textile manufacturing. With the help of collaborator Parley for the Oceans -- which is helping BioCellection connect to brands like Adidas that want to incorporate recycled plastic into their products -- the company hopes to sell this "upcycled" surfactant at $300/kg. It’s an estimated $42 billion market.

The issue of used plastics is a global problem: Because current recycling methods don’t generate enough revenue, over 90 percent of our cast-off plastics (even those going for recycling) end up in landfills, or incinerated, which compounds pollution. 

According to the company, "We can’t expect to change consumer habits overnight or integrate new materials immediately. It’s time to tackle the plastic pollution that currently exists, and that we’re continuing to produce, to save marine wildlife, keep the planet’s food chain intact, and protect human health."

Besides the $54,000 in total prize money from Wharton, BioCellection has earned $90,000 in grants and $240,000 in investment. The company is relocating to the San Jose BioCube in June 2016 for further development.

Writer: Alaina Mabaso
Source: Miranda Wang, BioCellection 

Social media makes it possible to review -- or rant about -- everything from movies to books to Uber drivers. But can you post reviews about landlords: the good, the bad and the ugly?
 
Whose Your Landlord (WYL), a University City Science Center startup, provides a platform for tenants to hold landlords accountable. The site asks users to refrain from using it as a bashfest, but invites comments useful to prospective renters before they sign a lease. (Note to grammarians: The company uses the possessive form of the word "who" because, "we’re giving renters ownership of their situation by putting housing in their hands.")
 
The site also functions as a platform for landlords to post rental listings, connect with renters and respond to reviews.
 
We asked Ofo Ezeugwu, the self proclaimed "chieftan" at Whose Your Landlord, to tell us more.

What is your big idea?
 
WYL is a web platform bringing quality to the rental experience by using the power of peer-generated reviews, quality listings and community engagement to connect renters and home providers. Through extensive peer insight from other renters, city data amassed from years of research, and quality listings, we’re ensuring that all WYL renters have a smooth and all-encompassing experience when they're looking to find their next home.

For home providers, we’re streamlining the way listings are uploaded and shared -- making it simple to vet and reference tenants -- and bettering communication lines with the renters of today. 
 
What is your company's origin tale?
 
WYL came out of necessity. In 2012, I ran for vice president of the student body at Temple University. I often heard from renters about the issues with landlords within the local community. I thought, "What if renters knew what to expect before they ever signed a lease?" The idea stuck and the following year, we launched.
 
What is your timeline?
 
We've been live to all users since September 2013. We have over 95,000 users on the platform and experienced 156 percent growth from the previous year (2014). We've bootstrapped thus far and are now in the midst of our seed round.
 
Forty percent of our user base is in Philadelphia and we've been able to start generating real revenue via strategic partnerships with the likes of Roadway Moving and Allstate. And we've just opened up our free beta for home providers to post listings to our community for free.
 
WYL has sparked change right here in Philadelphia: Companies have fired poor performing staffs, universities have partnered with WYL to make the lives of their students better, and residents have found new homes that they can be proud.
 
Why does the marketplace need your company?
 
We primarily target millennial renters -- young professionals and college students. While these individuals move more than any other demographic and comprise 52 percent of total renters nationwide, they are not having their needs met by current rental sites. The issue with the current climate of the rental ecosystem is that "quality" is not the standard. We're here to restore that and to make everyone better residents, home providers and community contributors.
 
What is your elevator speech?
 
WhoseYourLandlord (WYL) is a web platform created to bring quality, accountability and transparency to the rental experience.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

For startups, crowdfunding might seem a foolproof way to raise capital. Wrong!
 
Entrepreneurs are hereby warned that it takes exhaustive preparation: building a network, maintaining a robust online and social media presence and, above all, having a viable idea. Companies that fail to meet their funding goals can appear tainted in future investors’ eyes. Equally worrisome are companies that fail to deliver the pre-orders or perks they promise.
 
Speaking at a recent "Smart Talk" session at the University City Science Center’s Quorum, William Duckworth, a founder of FeverSmart, put it succinctly: "It’s a 30-day process that takes a year to do."
 
FeverSmart is actually a crowdfunding success story, raising $65,000 in 2014 -- 157 percent of its goal -- in 35 days on Indiegogo, one of several popular platforms. The company, which makes a "smart" wearable thermometer, raised 75 percent of its initial $40,000 goal in the first 24 hours, winning a coveted space on Indiegogo’s home page.
 
At Quorum, ROAR for Good co-founder and CEO Yasmine Mustafa described how, in a case of cold feet, she lowered her company’s goal from $100,000 to $40,000 just before launch. The company, which makes a wearable personal-safety device, raised $267,000.
 
"Crowdfunding was a validation that people would buy [our product]," she said. "It was a test about whether we really had a company."
 
Wayne Kimmel of SeventySix Capital, an early investor in Indiegogo, added that "crowdfunding has truly democratized the funding world."
 
And now, crowdfunding is taking a giant step. Effective May 16, new rules will allow startups to raise capital by selling equity shares in their company.
 
"The risks are acute and there will be a lot of stumbling blocks," argued attorney Matthew R. Kittay, who specializes in crowdfunding at Fox Rothschild. "But 1,000 people will share a $1 billion lottery ticket. It will happen and it will be a big story to tell."

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

Mid-level minority and women-owned businesses can often access financing through debt but not through equity investments. To remedy that problem, The Enterprise Center (TEC) has launched the Performance Fund through its Capital Corporation.

According to TEC, a Federal Reserve Bank of New York study revealed that "low-income populations and communities of color were being forced to engage in high-cost financing options for themselves and their businesses, as a result of limited access to basic financial services." This gap is due to a lack of community banks where they’re most needed and inequality in lending practices.

"Traditional [venture capitalists], they don’t look at deals that require less than $3 million," explains Chris Chaplin, TEC Capital Corporation director of public and private capital. "To a great extent, we recognized that there was a demand -- a need in the marketplace for companies to get at least some access to equity to take it from one level to another."

The funds for TEC’s first two Performance Fund equity investments came thanks to a grant from the U.S. Department of Health and Human Services (HHS). One of them is a $211,000 investment in Jidan Cleaning LLC, owned by Patricia Claybrook, with offices in Medford, N.J., and Philadelphia.

When vetting companies for these inaugural investments, TEC targeted businesses with revenue of at least $250,000 annually.

"A lot of these companies, they can get debt, but they need equity support to take it up to the next level," says Chaplin. For most women-and minority-owned businesses of this size -- already hampered by a lack of financial and social resources more easily accessed by white male entrepreneurs -- "getting equity is next to impossible."

TEC helped to finance Jidan’s growth in the past with a loan, which the business serviced well. The company has a long relationship with the West Philly organization: They clean its building and those of its partner organizations.

"What we’ve found is they’ve been growing rapidly," with larger and larger contracts, says Chaplin. "We recognized Patricia needed some financial support…but we didn’t want her to be caught in a situation where she was just servicing debt."

Over a three-year period, the $211,000 equity investment will help Jidan grow its full-time staff by 14, its part-time staff by 17, and provide benefits to employees. Chaplin predicts that with this investment, the company will surpass TEC’s staffing estimate.

"The focus of our work with HHS with these investments is not only to create wealth," he adds. "The real focus is to create jobs...sustainable jobs with benefits."

TEC is already looking toward the next cohort of Performance Fund recipients. While TEC may approach HHS with its decision by the end of April, the new cohort won’t be announced until September. 

Writer: Alaina Mabaso
Source: Chris Chaplin, The Enterprise Center

The Microsoft Innovation Center (MIC), a hub for entrepreneurial activity and community engagement, will open this summer on the ground floor of the University City Science Center’s headquarters at 3711 Market Street. 
 
According to Science Center spokesperson Kristen Fitch, "the MIC will be a place where entrepreneurs, students and community members can convene to use Microsoft tools and technology, get training and advice from Microsoft tech evangelists, sign up for complimentary BizSpark and DreamSpark software packages, and participate in programming to help them advance their ideas and ventures."
 
Bringing the MIC to University City is a big win, she adds.

"The MIC complements and reinforces our focus on making uCity Square a neighborhood that supports innovation, entrepreneurship, access and inclusion. The MIC will complement Quorum programming as it helps bridge the current gaps for startups on their journey to success, such as the lack of access to funding, knowledge and expertise; access to affordable technology; business planning; and exposure to potential markets and customers."
 
A key part of the MIC’s mission will be engaging underrepresented groups with STEM (science, technology, engineering and math) activities and careers.

"We plan to seek input from neighborhood and community partners to develop programs and workshops that can help their constituents leverage Microsoft technology and Science Center experience to support their entrepreneurial ambitions," says Fitch.
 
Possibilities include a partnership with the Center's FirstHand program (which engages middle and high school students from underserved schools), technology skills training with Microsoft’s YouthSpark hub, technology camps, and software grants to nonprofits that focus on STEM and computer science literacy.
 
The MIC, a collaboration between Microsoft Corp., SeventySix Capital, the Science Center and Wexford Science & Technology, is only the third such hub in the U.S.; other locations are in Atlanta and Miami.
 
The space will open in time for the Democratic National Convention in July and "serve as a hotbed of Microsoft activity during the convention, with a number of programs and events that explore the intersection of technology and civic engagement," promises the Science Center.
  
"Bringing Microsoft to Philadelphia and uCity Square is a game changer on many levels," said Science Center President & CEO Stephen S. Tang in a statement. "Not only have we attracted a large tech company to our city, but the MIC also offers a means to engage our neighborhood, innovation and entrepreneurial communities, and give them access to Microsoft technology and training."

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.
 

Old City just got a major boost with the expansion of the University City Keystone Innovation Zone (KIZ) across the Schuylkill River and all the way to Front Street -- that means some major new tax credits for the neighborhood’s burgeoning tech sector.

Old City-based Arcweb Technologies hosted the March 23 announcement, with featured remarks from University City Science Center President and CEO Stephen S. Tang, Arcweb CEO Chris Cera, and Mayor Jim Kenney.

If you go into a coffee shop near North 3rd Street in Old City -- or as it’s affectionately known, "N3rd Street" -- and "grab somebody that’s sitting there, most likely they’re a technology worker," said Cera. "I don’t think that’s found anywhere else in Philadelphia."

And he went further than that: "My 10-year outlook…is that this is going to be the tech center of Philadelphia, here in Old City."

Expanding that University City KIZ should contribute to that growth, which Tang called "a pivotal moment in our city’s transformation from a manufacturing economy to an innovation economy."

Former Pennsylvania Governor Ed Rendell instituted the KIZ program "to spur entrepreneurial activity," Tang explained. There are 29 KIZs across the state and three within the City of Philadelphia: the large BioLaunch 611+ zone that spreads north of Lancaster and Girard Avenues and I-95; the Navy Yard KIZ, and the newly expanded University City KIZ.

A KIZ is a special district that offers tax incentives to eligible for-profit companies in the life sciences and technology sectors. The program offers a statewide pool of $25 million toward the credits. An approved KIZ company (applications must be submitted by September 15 of each year) can claim a tax credit equal to 50 percent of its increase in gross revenues in the most recent taxable year over the revenue from the preceding year, earned within the KIZ. This tax credit is capped at $100,000, and for companies whose credit exceeds their tax liability, the credit is saleable for up to $0.90 on the dollar.

In the last decade, 48 early-stage tech and life science companies in the University City KIZ have received almost $8 million in tax credits, with 21 companies nabbing close to $2 million just last year. Now this benefit will extend all the way across the heart of Center City and into Old City.

(For a look at one University City company reaping the KIZ benefit, check out our profile of Graphene Frontiers, working towards big changes in medical diagnostics.)

"As a result of these tax credits, startups are retaining jobs, hiring new employees and developing new products," said Tang. "Not only are KIZ tax credits being invested in our local economy, but they’re also strengthening Philadelphia’s innovation ecosystem."

"It’s very exciting to see what’s happening in Old City," added Mayor Kenney. "The expansion of this [KIZ] will help propel that even faster and further than it has in other parts of the city."

Arcweb is just one company standing to benefit from the change.

"I didn’t want to have a tax credit make me move across town, from people and a place that we call home," said Cera. "I’m glad that we chose to stay and invest here."

Writer: Alaina Mabaso
Sources: University City KIZ expansion launch speakers

Gamers, armchair travelers and sci-fi fans are all embracing virtual reality. Now researchers at Temple University are pursuing medical applications for realistic, computer-simulated environments.
 
Dr. Alessandro Napoli, a bio-engineer at Temple, recently spoke at the University City Science Center's Quorum about how this promising technology could aid in weight loss and provide stress reduction during cancer treatment.
 
In 2012, working under the direction of Dr. Antonio Giordano of the Sbarro Health Research Organization, researchers used avatars to teach and demonstrate healthy diet and exercise habits. In settings like home kitchens and supermarkets, the avatars modeled healthy choices. Though the sample was small, participants said the approach helped them change their behavior and resulted in weight loss.
 
The second project studied the use of virtual reality during chemotherapy treatment of breast cancer patients in southern Italy. It is well known that music relieves anxiety for patients receiving chemo. What if, instead, they wore headsets that simulated relaxing 3-D images such as tropical scenes, forests or mountains?
 
The researchers compared music and virtual reality applied for five minutes before, 20 minutes during, and another five minutes following treatment. Measuring several physiological responses including heart rate, the researchers found that virtual reality was as calming as music. The virtual reality patients also reported that they perceived their chemo sessions as much shorter -- a positive outcome.
 
More research is needed, said Napoli, but with minimal training requirements "this is a great tool to introduce to clinical practice."
 
Napoli also presented work on a system to assess balance control and determine fitness to return to active military duty following a head injury. The system is being developed with Dr. Iyad Obeid, a Temple engineering professor, using Microsoft Kinect motion capture technology and basic computer equipment.
 
Balance problems can indicate brain injury. In hospitals, balance is assessed using large, complex and expensive equipment that is unsuitable in the field. The alternative is often a subjective visual assessment.
 
Napoli’s field system can provide visual images of 25 joints and other measures to assess balance with no need for complex equipment or highly trained operators. Over the next few years, the researchers will test the system in actual field conditions using Temple athletes and ROTC students.

WRITER IN RESIDENCE is a partnership between the University City Science Center and Flying Kite Media that embeds a reporter on-site at 3711 Market Street. The resulting coverage will provide an inside look at the most intriguing companies, discoveries and technological innovations coming out of this essential Philadelphia institution.