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The Insider: Funding for Entrepreneurs - Philly's Assets are the Numbers

A vibrant, successful, entrepreneurial community is essential to regional growth. Three issues of Innovation Matters are exploring key aspects that allow entrepreneurs to flourish within the Philadelphia Region: an entrepreneurial community, funding opportunities and entrepreneurial education.

In 2007 venture-capital investing reached a six-year high of $661.8 million in the Philadelphia area and $29.4 billion nationally, Linda Loyd of the Philadelphia Inquirer reported in January 2008. Loyd also reported that investing was "led by strong interest in life sciences, so-called clean technology and Internet-related businesses."

The for-profit, creative industry is making a big splash in venture capital. Loyd reported internet-related business as one of the top three strongest interests for investments. Deepak Kamra of the Canaan Partners venture-capital firm told the Inquirer "there's a lot going on in the digital-media and Internet space."

So what is the funding landscape for start-up business owners in the Philadelphia Region?

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Innovation Spotlight: Philadelphia’s Leading Interactive Firm

Innovation Philadelphia spotlights regional creative industry entrepreneurs and young professionals making an impact on the Philadelphia Region, or innovative initiatives that showcase the tremendous innovative and creative talent driving Philadelphia's economy.

June's spotlight on creativity is Matthew Fisher, President and Lead Interactive Designer of Night Kitchen Interactive, an interactive design firm located in historic Society Hill in Center City Philadelphia. Matthew founded the company in 1997 in his Old City loft apartment. Night Kitchen Interactive now has over 15 full - and part-time employees. He recently launched projects including The Art of Storytelling and click! photography changes everything.

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DreamIt Ventures and BrownPartners Receive First Creative Economy Investment Fund

Innovation Philadelphia announced its first two recipients of the Creative Economy Investment Fund on Thursday, May 22 at the Creative Movement Conference. Along with the City of Philadelphia Department of Commerce representative Josh Sevin, Kelly Lee, Executive Vice President of Innovation Philadelphia, and Chris Starr, Creative Economy Investment Fund Committee Member, awarded David Bookspan, co-founder of DreamIt Ventures, and David Brown, founder and CEO of BrownPartners, $100,000 and $50,000 respectively.

Pictured above: (left photo) Creative Movement speakers: Kelly Lee, Executive Vice President, Innovation Philadelphia; Jonathan Bowles, Director, Center for an Urban Future (NYC); Rolf Smith, Creative Movement Keynote Speaker, and Lead Guide, The Virtual Thinking Expedition (vTx) Company; Margaret Myers, STUDIO for Creative Inquiry, Carnegie Mellon University (Pittsburgh); and Carole Walton, Create Boston Manager, Boston Redevelopment Authority.

(right photo) Creative Economy Investment Fund Announcement: Rolf Smith, The Virtual Thinking Expedition (vTx) Company; Chris Starr, Creative Economy Investment Fund Committee; David Brown, BrownPartners; Kelly Lee, Innovation Philadelphia; David Bookspan, DreamIt Ventures; and Josh Sevin, Philadelphia Department of Commerce.

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In the News

» Pitching Philly to businesses

» Marketing firm revels in success

» Guys on fast-track to business success

Young Professionals Showcase

Join Innovation Philadelphia and Center City District for Center City District Sips on Wednesday, June 18th from 5-7 p.m. at Finn McCools (118 S. 12th Street, Philadelphia). Meet representatives from regional Arts, Culture and Civic Organizations, learn how to get involved and network with other young professionals from the area. This is a unique opportunity to experience how you can get involved in young professional chapters of regional organizations. Drink specials and appetizers will be available. The goal of the showcase is to link and engage young professionals to young professional organizations to increase the likelihood of remaining in the region. Pre-registration for this event is required.

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Geeks from Philly Ignite the Night in 5 Minute Segments

So, you want to find out what's rocking the geek and hacking scene in Philadelphia? On June 11th at 6PM at Johny Brenda's on Frankford Ave., you can see 20 of Philadelphia's most exciting champions of the geek and hacking culture talk about their projects. The catch is that each speaker gets only five minutes and 20 slides that rotate automatically every 15 seconds to get you excited. That's IgnitePhilly for you. IgnitePhilly is free and open to the public, and will be buzzing with speakers bound to ignite Philadelphia's creative class.

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