The Local Philadelphia Backdrop


The context and backdrop of this thesis is the Philadelphia information technology startup community. The community is young when compared to the already established communities of Silicon Valley, London, and New York (1). It's also dwarfed in comparison to the already established industries of Philadelphia: pharmaceuticals and health services, bio-tech, real estate,  the life sciences, and higher education (2). The challenges facing the community are many, ranging from a lack of designers, to a lack of investment funds, to a need for mentors and advisers, to work spaces that allow for collaboration (3). These are some of the challenges and lack of resources that the community will have to overcome. In order for this community to grow, there needs to be mechanisms in place that retains the information technology startups. In an ideal case, scalable and economically sustainable startups, which are startups that can grow into businesses that hire people and can generate enough revenue to continue growing, create ancillary jobs. This is then followed by the generation of tax revenue and a wealth of business experience, which in turn permeates to the rest of the city via tax revenue, business experience, mentorship, and investment capital.

Sources:
  1. http://blog.startupcompass.co/the-rise-of-startup-ecosystems-silicon-valley
  2. http://www.city-data.com/us-cities/The-Northeast/Philadelphia-Economy.html
  3. Interviews and observations

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