Philadelphia Mayor Michael Nutter announced the five local entities that help promote growth in the city's startup community. This is the second round of grants that the mayor's Startup PHL Call for Ideas fund is awarding, according to Philly.com.
The five announced firms will each be given $25,000 to initiate programs that will develop the entrepreneurial community in Philadelphia, the report added.
Newsworks cited Philadelphia deputy mayor for economic development Alan Greenberger saying: "What we wanted to do was really look carefully at the integration of students and universities with the startup community. Because there's public money involved, I think everybody wants to be just a little more careful and wants to feel like the investments made have a higher probability of succeeding."
This year's grants were awarded to student-focused tech firms. The PennApps Fellowship Internship Program and NextFab will each use $25,000 to fund internships and fellowships. Technically Philly and Philadelphia Fashion Incubator will each use $25,000 to run seminars and workshops. Lastly, Zivtech will sponsor 30 participants in a developer boot camp using its $24,000 grant, Philly.com reported.
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