August 9, 2016 |
Venture capitalist Bruce Luehrs , who weighed startups and pitched investors for Princeton's pioneering Edison Venture Fund back in the dot-com boom, is back on the road. He says he wishes he had more competitors. "We're an honest-to-God Philadelphia early-stage venture fund," Luehrs told me about his latest pile, $18 million Rittenhouse Ventures II , which includes $4 million in funding from state sources and Ben Franklin Technology Partners. Rittenhouse Ventures I is the current name for the 2008 fund formerly known as Emerald Stage2 Ventures , which Luehrs started in 2008 with partner Saul Richter , backing from Joe Besecker 's Emerald Asset Management , and millions more in state funding.
April 30, 2016 |
Hey there, entrepreneurs: Ready for your UberPitch moment? Folks with a great notion and a need for cash will have a golden opportunity on Friday - tied to Philly Tech Week - to pitch to one of the top local venture capitalists in a spontaneous one-on-one session inside a comfy Uber SUV cruising round town. The window of opportunity will be open from 11 a.m. to 3 p.m. to participants in Center City, University City, Old City, North Third, Northern Liberties, and Fishtown, and for Temple campus folks from 1 to 3 p.m. Because this flash pitch is being promoted by the ride-sharing service, access is limited to those who have Uber accounts set up on mobile phones - though participation is free.
March 7, 2016
Has America's job market broken? Are we becoming a nation of part-timers? Of underemployed young people and can't-afford-to-be-retirees stitching together low-wage workweeks? That's one view of a "gig economy," in which - except for company owners - all our cars are taxis, our homes are hotels, and none of our weekly hours qualifies for company benefits. So we have to buy high-deductible health plans on the not-so-free market? "Gig work reflects the more flexible or fragmented work arrangements of many in today's labor market," namely Uber and Lyft drivers, TaskRabbit "freelance laborers," Upwork free-lancers, and Etsy salespeople, writes John Silvia, the Pennsylvania native who serves as chief economist at Wells Fargo & Co., in a recent report on the "gig" economy.
January 19, 2014 |
Venture capitalists invested $420.3 million in Philadelphia-area companies last year, up 1.2 percent from the year before, according to the MoneyTree Report by PricewaterhouseCoopers L.L.P. and the National Venture Capital Association. The report, released Friday and based on data from Thomson Reuters, also showed that venture capitalists nationally invested $29.4 billion in 3,995 deals, a 7 percent increase in dollars and a 4 percent increase in deals. Locally, the number of companies receiving venture capital equity investments increased 9.9 percent to 122 from 111. In the fourth quarter, 34 Philadelphia-area companies received $81.6 million in investments.
January 22, 2013 |
A new study shows that funding for business start-ups declined in 2012, the first time that has happened in three years, as venture capitalists spent less on fewer deals. Capital-intense sectors such as clean technology and life sciences were among the hardest hit, according to a MoneyTree study released Friday that was conducted by PriceWaterHouseCoopers and the National Venture Capital Association, based on data from Thomson Reuters. In all of 2012, start-up investments fell 10 percent, to $26.52 billion from $29.46 billion, the study found.
January 7, 2013 |
For everyone salivating over the prospect of more seed funding becoming available to Philadelphia entrepreneurs in 2013, allow me to serve up a plate of "Series A crunch. " That's not some type of granola or candy bar. It's a recent investment-industry phenomenon that will amount to a rude awakening for many businesses that raised seed funding in the last 18 months: There may be no follow-on financing for you. That has long been true for businesses that start with capital provided by founders and family and later attract the attention and financial support from a wealthy individual ("angel investor")
December 4, 2012 |
A Harvard Business School lecturer told the Wall Street Journal earlier this year venture capitalists "bury their dead quietly. " He was talking about the large numbers of their investments that fail - up to three-quarters of all venture-backed start-ups, according to his research. Needless to say, the courtship phase between entrepreneur and investor is far more lively. Take this week, filled as it is with events bringing idea people together with money men. (With few exceptions, they're almost all money men)
September 24, 2012
"It is beyond belief that there are still people who would trade this progress for a return to the status quo. " - Gov. Corbett, referring to opponents of drilling for shale gas, in remarks at the Marcellus Shale Coalition convention in Center City. "I think it is disingenuous for the governor to dismiss his opponents as a fringe element of naysayers. " - David Masur of PennEnvironment, protesting outside the shale-gas convention. "We are really, really sad. I hope they call us back because these are really, really good jobs.
January 17, 2012
"No person except a natural born citizen, or a citizen of the United States, at the time of the adoption of this Constitution, shall be eligible to the office of President; neither shall any person be eligible to that office who shall not have attained to the age of thirty-five years" - U.S. Constitution, Article II, Section 1 By John E. Sununu The Constitution may be the foundation of American democracy, but the qualifications...
October 13, 2011 |
Steve Welch, a Chester County entrepreneur who built a successful biotechnology company, launched a bid for the Republican nomination for U.S. Senate Thursday, saying the nation needs leaders who "understand the economy from the ground up. " He joins a growing field of at least eight candidates looking to replace Sen. Bob Casey (D., Pa.) by tying the incumbent to President Obama and the nation's economic problems. "American innovation is strong," Welch, 36, said Thursday in an interview.