Member Perspective: Scott Nissenbaum

What can local leaders do to help accelerate the growth of technology-driven enterprises?

Founders of emerging companies will tell you “invest more.” This is true: capital will help accelerate growth, but only if the capital is invested wisely. Our region is already praised as one of the most capital-efficient markets for emerging ventures, so more can go a long way — yet it takes more than just “more capital” to accelerate their growth. Just like our companies, we should each consider not only how our capital can more efficiently achieve our goals, but the other factors that will make our community and its enterprises grow faster and stronger.

A tenet of Ben Franklin’s investment philosophy is that capital serves us best while delivering multiple outcomes. The 3.90-1 return that Pennsylvania sees from its investments via Ben Franklin doesn’t come without the support from other capital that complements both financial returns and community growth. Our partnership with Independence Blue Cross for growth of digital health ventures, our ImpactPHL Ventures initiative focused on companies which support the UN Sustainable Development Goals, as well as region-specific partnerships like StartupPHL with PIDC and the City of Philadelphia, are each examples of how well-aligned capital for emerging ventures serves individual outcomes for industry, social impact, and regional growth, while simultaneously growing companies.

Read the full article here.

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