Science Center Raises $1 Million for Entrepreneurs Clubhouse

PHILADELPHIA --(Business Wire)--

The University City Science Center has raised more than $1 million for Quorum, the entrepreneurs' clubhouse, and has officially surpassed its Open the Doors Campaign goal. Recent commitments made by Morgan Lewis, NewSpring Capital, Quaker Partners and Safeguard Scientifics triggered a challenge grant presented by the University of Pennsylvania, enabling the Science Center to close its first major fundraising campaign in its 50-year history.

"These five dynamic players in the entrepreneurial ecosystem embody Quorum's goal of connecting entrepreneurs and innovators to investors and advice. With the involvement of firms such as NewSpring Capital, Quaker Partners and Safeguard Scientifics, we're incorporating another component essential to the startup community - funding - into Quorum's DNA," says Science Center President & CEO Stephen S. Tang, Ph.D., MBA.

Recognizing that the Science Center was embarking on one final push to close the Open the Doors Campaign, three University of Pennsylvania offices - The Perelman School of Medicine, the Office of the Vice Provost for Research, and the Office of the Executive Vice President - joined forces to offer the challenge grant to help the Science Center meet its $1 million goal.

"Our premise that Quorum would become a clubhouse for entrepreneurs has been validated," says Craig R. Carnaroli, Chairman of the Science Center Board of Directors and Executive Vice President of the University of Pennsylvania. "Quorum is enhancing the vitality, creativity and entrepreneurial spirit of the neighborhood and the region."

p> Support from a total of 34 sponsors has allowed the Science Center to develop programming specifically designed to connect entrepreneurs with the people and resources necessary to help grow their ideas and businesses, ultimately creating jobs that positively impact the region's economy. Since the launch of Quorum in 2011, more than 12,000 entrepreneurs, scientists, programmers, resource organizations and business leaders in the region have attended more than 250 events held in the space.

"We may have reached our Open the Doors campaign goal, but our work is not over," Tang says. "We're now focused on converting our inaugural sponsors into annual supporters of Quorum so we can continue to support entrepreneurs and innovators for years to come."

Quorum Open the Doors Campaign Sponsors:

Leadership Sponsors
Endo Health Solutions
Temple University
University of Pennsylvania
Wexford Science + Technology

Founding Sponsors
Children's Hospital of Philadelphia
EisnerAmper
ParenteBeard
Pepper Hamilton LLP
Safeguard Scientifics

Innovation Zone Sponsors
Drexel University
Thomas Jefferson University
University of Pennsylvania
University of the Sciences
The Wistar Institute

Sustaining Sponsors
Citizens Bank Foundation
Deloitte (News - Alert) LLP
Dolfinger-McMahon Foundation
Energy Plus
Fujirebio Diagnostics Inc.
Morgan, Lewis & Bockius LLP
Numoda Corporation
Odell Studner
Quaker Partners
Scientific Search
TD Bank

Friends
Kenneth J. Blank, Ph.D.
Mr. & Mrs. Christopher Cashman
The Connelly Foundation on behalf of Craig R. Carnaroli
Computer Aid, Inc.
Mr. & Mrs. Jim Datin
David R. King and Eunice S. King
New Jersey Technology Council
NewSpring Capital
Stephen S. Tang, Ph.D., MBA

Media Sponsor
WHYY

About the Science Center
The University City Science Center is a dynamic hub for technology, innovation, and entrepreneurship in the Greater Philadelphia region. It provides lab space, office space, business incubation, programming, and support services for entrepreneurs, start-ups, and growing and established companies. The Science Center was the first, and remains the largest, urban research park in the United States. Graduate organizations and current residents of the University City Science Center's Port business incubators have created more than 15,000 jobs that remain in the Greater Philadelphia region today and contribute more than $9 billion to the regional economy annually. The Science Center is celebrating its 50^th anniversary in 2013. For more information about the Science Center, go to www.sciencecenter.org.