New $10M Fund with Drexel Ventures; Partnership with ic@3401

Big things are happening with Drexel, ic@3401, and Ben Franklin.

Yesterday, we announced two significant developments: our launch of the Drexel Ventures-Ben Franklin Seed Fund; and Ben Franklin’s residence at ic@3401.

The high-level details:

• To form the $10M fund for seed and early stage investment in Drexel technologies, Drexel Ventures is raising $5M, and Ben Franklin is matching with $5M.
• Ben Franklin has joined the ic@3401 community, offering a variety of services and support for companies, including industry consulting, market analysis and access to capital. Our friends at Safeguard Scientifics, now sustaining members of ic@3401, will also have an office there.

Here’s the full press release:

Ben Franklin Technology Partners Joins ic@3401 and Drexel to Boost Startup Resources in University City

And here’s a roundup of press coverage so far:

• Philly.com: http://mobile.philly.com/beta?wss=/philly/business/homepage&id=351858731
• PBJ: http://www.bizjournals.com/drexel-ben-franklin-to-raise-10-million-fund-to.html
• Technically Philly: http://technical.ly/philly/2015/11/19/drexel-seed-fund-ben-franklin-technology-partners/
• Philly Voice: http://www.phillyvoice.com/drexel-announces-10m-seed-fund-start-ups/
• MedCity News: http://medcitynews.com/2015/11/a-shared-workspace-home-to-tech-healthcare-startups-attracts-vc-seed-investor-support/
• Global University Venturing: http://www.globaluniversityventuring.com/
• Safeguard Blog: http://blog.safeguard.com/
• Drexel Now: http://drexel.edu/now/

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