There's a lot of money in venture capital sitting in this region, but not in early-stage companies. The Philadelphia area, which encompasses eastern Pennsylvania, southern New Jersey and Delaware, ranked 13th out of 18 regions in the third quarter. Each of those markets has had kind of a legendary growth story that has fostered numerous other spinoffs and other sorts of ancillary companies. With Web standouts such as VerticalNet Inc. based in Philadelphia, along with Internet investment and holding companies Safeguard Scientifics Inc. and its hot spinoff, Internet Capital Group Inc., greater Philadelphia could eventually get that big story. Organizations representing local venture firms, so-called angel investors and entrepreneurs, are working to make matches.
Angels are wealthy individuals who finance start-ups typically ignored by venture funds.
The University of Pennsylvania's Wharton School, Drexel University, Temple University and others continue to work with, and assist, area businesses. This area will become very much more vital in the next couple of years. By using this site, you agree to our Terms of Use and Privacy Policy .