Startup Finance Resources: Philadelphia Edition
Philadelphia has a growing ecosystem of resources for startup founders. From state-backed funding programs to university resources and startup-friendly service providers, this guide covers everything Philly founders need to know about getting financial support.
Funding
Grants & programs
Accelerators
Growth programs
Network
Angel investors
Services
Service providers
Funding & Grant Programs
Pennsylvania and Philadelphia offer several funding programs specifically for startups. These are often non-dilutive or have very founder-friendly terms.
Ben Franklin Technology Partners
The premier funding source for early-stage tech companies in Pennsylvania. Offers loans and investments up to $250K, with favorable terms.
- Funding range: $25K - $250K
- Terms: Convertible loans or equity investments
- Best for: Tech, life sciences, manufacturing startups
- Requirements: Pennsylvania-based, high-growth potential
Website: benfranklin.org
StartupPHL
City of Philadelphia's initiative to support startup growth. Offers grants, resources, and connections.
- Programs: Startup Grants, PHL Pitch competitions
- Best for: Early-stage Philadelphia-based startups
- Perks: Connections to city resources and contracts
Website: startupphl.com
SBIR/STTR Programs
Federal grants for R&D-focused companies. Philadelphia has strong support infrastructure for these applications.
- Phase I: Up to $275K for proof of concept
- Phase II: Up to $1.5M for development
- Local support: Ben Franklin and Science Center offer application help
PA First Program
State program offering grants for job creation and capital investment in Pennsylvania.
- Funding: Based on jobs created and investment made
- Best for: Startups planning significant PA hiring
- Requirements: Job creation commitments
Accelerators & Incubators
Philadelphia has several accelerator programs that provide mentorship, funding, and connections.
Dreamit Ventures
One of the longest-running accelerators in Philadelphia. Programs for health tech, urban tech, and more.
- Investment: $50-100K for 6-8% equity
- Focus: HealthTech, UrbanTech, SecureTech
- Duration: 14-week programs
Science Center
University City-based innovation campus with incubator programs, lab space, and resources for life sciences and tech startups.
- Programs: Quorum, CIC Philadelphia, lab incubators
- Focus: Life sciences, health tech, deep tech
- Perks: Lab space, equipment access, university connections
Pennovation Center
Penn's innovation hub with lab and office space for startups. Strong connections to Penn resources and talent.
- Focus: Penn-affiliated and life sciences startups
- Perks: Lab space, prototyping facilities, Penn connections
1776
National accelerator with Philadelphia presence. Focus on govtech, edtech, and regulated industries.
- Focus: GovTech, EdTech, regulated industries
- Perks: Global network, government customer connections
Angel Networks & Early Stage VCs
Philadelphia has an active angel community and several VCs focused on early-stage companies.
Angel Networks
- Robin Hood Ventures: Active angel group, $50K-$500K checks
- Keiretsu Forum Philadelphia: National network with local chapter
- Golden Seeds: Focus on women-led companies
- Penn Angel Network: Penn alumni angels
- Blue Venture Investors: Temple-affiliated angels
Local VCs
- First Round Capital: Philly-based, early stage (Seed-A)
- Osage Venture Partners: University City, life sciences focus
- NewSpring Capital: Multi-stage PA firm
- MissionOG: B2B software focus
- Rittenhouse Ventures: Early stage, diverse sectors
Pennsylvania Tax Incentives
Pennsylvania offers several tax incentives that can significantly reduce your startup's costs.
R&D Tax Credit
Pennsylvania offers state R&D tax credits on top of federal credits.
- Credit: Up to 10% of qualified R&D expenses
- Carryforward: 15 years
- Best for: Tech, life sciences, manufacturing
Keystone Opportunity Zones (KOZ)
Designated areas with significant state and local tax exemptions.
- Benefits: Exemption from most state/local taxes
- Duration: Varies by zone
- Philadelphia zones: Several in Navy Yard, North Philadelphia
Job Creation Tax Credits
Credits for creating new jobs in Pennsylvania.
- Credit: Up to $1,000 per job created
- Requirements: New full-time positions, wage thresholds
Startup-Friendly Service Providers
Finding the right accountant, lawyer, and banker makes a huge difference. Here are providers known for working with startups.
Legal
- Morgan Lewis: Major firm with startup practice (larger deals)
- Ballard Spahr: Strong Philadelphia presence, venture deals
- Pepper Hamilton: Life sciences expertise
- Stradley Ronon: Mid-size firm with startup clients
- Clerks: Modern startup law firm, flat-fee services
Accounting & Tax
- Kreischer Miller: Regional firm with startup experience
- Marcum: National firm, startup tax expertise
- KPMG Spark: Tech-enabled accounting for startups
- Pilot: Remote bookkeeping (works well for Philly startups)
Banking
- Mercury: Startup-focused digital bank (our recommendation)
- First Republic: High-touch service for funded startups
- PNC: Major regional bank with startup programs
- WSFS: Philadelphia-headquartered, local relationships
Coworking & Innovation Spaces
Philadelphia has a variety of coworking spaces catering to different startup needs and budgets.
Center City / Old City
- WeWork: Multiple locations, standard coworking
- Industrious: Premium coworking
- Pipeline Philly: Startup-focused community
- Benjamin's Desk: Local coworking chain
University City
- CIC Philadelphia: At the Science Center
- Pennovation Center: Penn's innovation hub
- Quorum: Science Center coworking
University Resources
Philadelphia's universities offer extensive resources for startups—even if you're not affiliated.
University of Pennsylvania
- Penn Wharton Entrepreneurship: Programs, mentorship, funding
- Penn Health-Tech: Healthcare innovation focus
- Weiss Tech House: Student entrepreneurship
- Penn I-Corps: NSF-backed commercialization program
Drexel University
- Drexel Ventures: Commercialization support
- Close School of Entrepreneurship: Programs and resources
- Baiada Institute: Incubator and accelerator programs
Temple University
- Innovation & Entrepreneurship Institute: Programs, mentorship
- Blackstone LaunchPad: Entrepreneurship resources
Community & Networking
Building relationships in the Philadelphia startup community helps with fundraising, hiring, and learning.
Events & Meetups
- Philly Tech Week: Annual week-long tech festival
- Philly Startup Leaders: Regular meetups and events
- Technically Philly: News and events for tech community
- Penn Founders Club: Penn-affiliated founder meetups
- Philly CoFounders: Cofounder matching and networking
Need Help Navigating Philadelphia Resources?
We're plugged into the Philadelphia startup ecosystem. Let us help you find the right funding programs, service providers, and connections for your stage.
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