Over 130 companies in Greater Philadelphia received over $45,000,000 in funding through the Therapeutic Discovery Project Credits and Grants in 2010.

Greater Philadelphia is among the top regions for venture capital invested – with biotechnology, medical devices and equipment, IT services and software leading the way. According to PricewaterhouseCoopers, in Philadelphia and its 18 surrounding counties, 122 deals were struck in 2011, totaling $492 million.

Research & Development in Greater Philadelphia

Hundreds of entities across Greater Philadelphia are actively engaged in Research and Development, with the private sector accounting for just over 85% of total R&D spending ($10.5 billion) in the region in 2008. Colleges and universities comprise most of the remainder, with their expenditures accounting for over 2.5% of the total R&D spending by all U.S. colleges and universities in 2009. More than 20 universities in the region sponsor technology and science incubators, allowing new science and IT businesses access to university talent and equipment.

Visit our Research and Development in the Greater Philadelphia Region Study, for more information. Conducted in December 2011 by Select Greater Philadelphia, the Study found that Greater Philadelphia is among the top 5 research and development centers in the U.S. with total R&D spending higher than the U.S. percentage. For a complete copy of the Research and Development Study, please email your request to Phil Hopkins or Patrick Kenny at Select Greater Philadelphia.

Milken Report findings for R&D in Greater Philadelphia:

• Region does better than most other metros in terms of absolute employment.
• 34.6% of the region's therapeutics and devices jobs were in R&D.
• Employment grew faster than the U.S. average between 2002 and 2007, placing Greater Philadelphia 1st in employment growth.
• Strong biotech R&D employment is a major factor propelling the Greater Philadelphia to the 1st-place ranking in the overall composite for therapeutics and devices (up from 3rd in the 2005 Milken Report).
• Improved access to seed and early-stage risk capital promoted growth in this sector.

Venture Capital Firms in Greater Philadelphia
Check out the Venture Capital firms within the Greater Philadelphia region. Intimately familiar with the unique needs of life science companies, their insight and breadth of experience help in providing guidance, grants, start-up and seed funding for early stage technologies as well as the purchase of older products from large pharmaceutical companies.

Additional Resources: 

• Download a copy of the Milken Report.
• Check out our Life Science Resource Guide.
• Organizations such as the Greater Philadelphia Alliance for Capital and Technologies (PACT), Pennsylvania Bio, BioNJ., and Delaware BioScience Association bring together entrepreneurial, venture and private equity organizations to create greater opportunities for cross fertilization of ideas, events and technologies.

Need Introductions?
Select Greater Philadelphia can be of assistance in introducing you to more than 41 venture capital companies headquartered in our region. They have a wealth of experience in bringing therapeutics, medical devices, drug delivery systems and more, to market sooner.

Call Select Greater Philadelphia at 800.221.0774.