Renewed accelerators, round two.
Instead of inviting founders at an early stage across any industry to accelerator programming, as it had done earlier, earlier this year, Philly startup leaders announced that it would run industry-specific cohorts. The goal would be to maximize connections and progress with like-minded people.
The local entrepreneurship organization’s first sessions – the Cannabiz Accelerator, for companies working in the cannabis industry, and the Ethical Entrepreneurship Accelerator, for companies with a social, environmental or economic mission – were just concluded this spring. (Here is who was originally named for the cohorts.)
“The goal for us is to be able to serve more entrepreneurs, and there was a certain stratification by industry,” PSL director Isabelle Kent told Technically. “We wanted to be more focused so that we could choose the right speakers, resources and partners for each group and create some stronger bonds between the entrepreneurs.”
The organization is now looking at its next industries for the autumn program: food innovation and blockchain.
Food innovation in Philly
Food innovation is an industry that already has strong ties in the Philly region, Kent said. Aramark, Campbell’s, Oatly and Dietz and Watson are some of the major food employers in the region, and local technology-enabled delivery companies like Misfits Market and Gopuff show an example of how to innovate and scale in the industry.
The availability of the industry was another attraction, Kent said. Philly’s thriving industry, higher education and medicine, have high barriers to entry.
“They take expensive education, long career paths and pedigree. Inherently, they were not sectors that are inclusive for most Philadelphians, Kent said. “Food was a more accessible career path. We evaluate sectors that have the capacity to be diverse early and that have opportunities for change.”
Blockchain and Philly
The second accelerator, for blockchain companies, is a little easier for technology entrepreneurs. PSL first thought about tackling logistics and supply chain for one of this year’s cohorts, but the network needed a little more development, Kent said. And even though the cryptocurrency markets have had an unstable year, blockchain technology is used for much more, and groups such as DeFi Philly and NFT Philly has gained fast bases.
There may be more collaboration between blockchain companies and traditional financial institutions, Kent said, and there is room for development in Philly’s blockchain community. And with its use in building Web3 and the meta-verse, it’s time for Philly entrepreneurs to start early.
“We see blockchain as a technological solution that will emerge strongly from this, on the corporate and community-based innovation side,” said the director.
How to Participate in Philly Startup Leader Accelerators
These two 10-startup cohorts will be local, with room for perhaps one or two exceptions for entrepreneurs considering moving to Philadelphia, according to Kent. And unlike the previous round’s 10-week plan, the autumn litters will operate on a 12-week program, from the end of September to December. The groups will meet weekly on Tuesdays, be linked to mentors, speakers and capital partners, and participate in November Founder factory event.
The application is open until 15 August.
Read more and search here
The new programming was rolled out when PSL renewed the board and advisers, adding these names: Antonia Dean from Comcast, Andrew Hoagland of NextMv, Michelle Berkoben of Wipfli, Andy Salamon of Material, Mercedes Ballard of Heroic, Munir Pathak of Ready set, Daniel Gardner of Gardner Capital Group, Nicole Hofmann of EVYAP AmericaFractional CTO Nico Westerdale, Trina Jones of Health Union LLC, Rick Genzer of Ben Franklin Technical Partnersand Mark Wendaur of Stradley Ronon Stevens and Young, LLP.
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