Philadelphia Startup Ecosystem
Emerging startup ecosystem with strong universities, healthcare focus, and growing tech scene. Lower costs and access to major markets.
Ecosystem Overview
💰 Funding
$1.5B+ in total funding, with growing access to VCs and angel investors.
👥 Talent
70K+ tech workers and access to UPenn, Temple, and Drexel talent.
🏢 Infrastructure
8 accelerators, 15 co-working spaces, and growing support networks.
Key Strengths
Key Industries
Cost of Living
Top Accelerators
Top Funding Sources
Frequently Asked Questions
Why is Philadelphia a good city for startups?
Philadelphia offers an emerging startup ecosystem with strong universities, healthcare focus, lower costs than major tech hubs, access to major markets, and growing tech scene. The city has a strong presence in healthcare, fintech, and enterprise software, with access to university talent.
What are the top accelerators in Philadelphia?
Top accelerators include Dreamit Ventures, Ben Franklin Technology Partners, and 1776. The ecosystem also benefits from strong university connections (UPenn, Drexel) and growing startup community. Many accelerators focus on healthcare and fintech.
How much does it cost to start a startup in Philadelphia?
Philadelphia has a cost of living index of 101 (1% above national average), making it one of the most affordable major startup hubs. Average rent for a 1-bedroom is around $1,300/month, allowing startups to significantly extend their runway while accessing university talent.
What industries are strongest in Philadelphia?
Philadelphia is particularly strong in healthcare, fintech, and enterprise software. The city's position as a major healthcare hub with strong universities makes it ideal for healthcare tech startups. Strong financial services presence supports fintech innovation.
Is Philadelphia good for healthcare startups?
Yes, Philadelphia is one of the best cities for healthcare startups due to its position as a major healthcare hub, proximity to major healthcare companies, strong healthcare talent pool from UPenn and other universities, and growing healthcare tech ecosystem.
What VCs are active in Philadelphia?
Active VCs include First Round Capital, Osage Venture Partners, and Ben Franklin Technology Partners. Many national VCs also invest in Philadelphia startups, recognizing the opportunities in healthcare and the value proposition of lower costs and strong university talent.
Compare with Other Ecosystems
🏛️ Boston
Similar healthcare focus. Higher costs but more established ecosystem.
Compare →🏛️ Washington DC
Similar East Coast location. Higher costs but government tech opportunities.
Compare →🤖 Pittsburgh
Similar Pennsylvania location. Lower costs and robotics focus.
Compare →🗽 New York
Similar East Coast location. Higher costs but more capital and opportunities.
Compare →