Draper Ventures Network

A global partnership raises Philadelphia’s profile for startups

December 12, 2017 (Philadelphia, PA) – Ben Franklin Technology Partners of Southeastern Pennsylvania (Ben Franklin), a venture capital and economic development firm, joins the DVN Beta program of  Draper Venture Network, a self-governed organization of global independent venture funds.

The news comes after a recent report, compiled by the U.S. Chamber of Commerce Foundation and D.C.-based incubator 1776, which names Philadelphia as the No. 3 spot on a yearly ranking of the nation’s 25 top startup cities. Philadelphia ranks third among startup markets in the report, jumping five spots from the previous year, and behind only Boston and the Bay Area.

“As a non-traditional economic development organization, forging partnerships with a global network like the Draper Venture Network speaks to the momentum Philadelphia is building on the national startup scene,” says Scott Nissenbaum, Chief Investment Officer at Ben Franklin. “Being a part of the network will bring our companies closer to Draper’s global network of venture capital funds and hundreds of corporate partners world-wide.”

Since its inception, Ben Franklin has invested over $200M in seed stage companies, leading to the creation of 32,000 jobs in Greater Philadelphia as a result of its investments. The firm’s current portfolio includes 202 companies working in the areas of IT, digital health, health, and physical sciences.

“Ben Franklin is building a network around Philadelphia that we are building globally.“ says Tim Draper, Founder of Draper Associates and Draper Fisher Jurvetson,“By providing strategic introductions and access to corporate partners and industry leaders, we will bring visibility and scale to the region.”

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