PHILADELPHIA — (April 4, 2016) — A new Microsoft Innovation Center (MIC) will open to the public at uCity Square in Philadelphia this summer. The MIC, which is the result of a collaboration between Microsoft Corp., SeventySix Capital, the University City Science Center and Wexford Science & Technology, will be the first in the region and the third in the U.S., with other locations in Atlanta and Miami. The Innovation Center complements and enhances Microsoft’s regional presence, which includes an office in Malvern and a Microsoft Store at King of Prussia Mall. Currently there are over 350 Microsoft employees in the Philadelphia metropolitan area.
Located on the ground floor of the Science Center’s corporate headquarters at 3711 Market Street, the MIC will be equipped with the latest Microsoft technology. Through a combination of programming and outreach activities, Microsoft – working closely with the Science Center and SeventySix Capital – will seek to spur economic development and create new opportunities for the local tech startup community. Further, the MIC will host activities that will bring underrepresented groups to greater awareness of and involvement with STEM activities and careers.
“Bringing Microsoft to Philadelphia and uCity Square is a game changer on many levels,” said Science Center President & CEO Stephen S. Tang, Ph.D., MBA. “Not only have we attracted a large tech company to our city, but the MIC also offers a means to engage our neighborhood, innovation, and entrepreneurial communities and give them access to Microsoft technology and training. It took a true collaboration between SeventySix Capital, Microsoft, Wexford and the Science Center to make this happen.”
“We are thrilled to work with SeventySix Capital, the University City Science Center, and Wexford Science & Technology to bring technology and resources to the great city of Philadelphia,” said Jeff Friedman, director of Modern Government in Microsoft’s State and Local Government Solutions Group. “MICs are part of Microsoft’s broader strategy to empower developers and entrepreneurs, extending into local metro markets to help startups grow their business with technology and services such as cloud computing, developer tools, software and open source technologies.”
The MIC will open in time for the Democratic National Convention (DNC) in July and will serve as a hotbed of Microsoft activity during the convention, with a number of programs and events that explore the intersection of technology and civic engagement.
After the DNC, Microsoft, the Science Center and SeventySix Capital will develop and deliver a suite of ongoing technology and innovation focused programming that will offer the startup, entrepreneurial, academic and neighborhood communities access to Microsoft resources and expertise.
“Microsoft’s presence in uCity Square will enhance our community of ingenuity and become a catalyst to continue innovation and economic growth in our city,” said Joe Reagan, Vice President at Wexford Science & Technology. “With this opportunity, Philadelphia’s flourishing premier innovation district, uCity Square, will work in tandem with Microsoft to attract talent and companies that will bring businesses of all sizes together to advance technology and collaboration. We’re excited to see what the future holds for uCity Square.”
“This is an amazing win for Philadelphia! Jon Powell, our team at SeventySix Capital and I are thrilled to see our hard work pay off to attract Microsoft, a Fortune 50 tech company, to our city,” said Wayne Kimmel, Managing Partner of SeventySix Capital. “Our shared vision with Jeff Friedman at Microsoft to build an open and accessible venue to inspire all people to explore and learn about the latest technological innovations will become a reality this summer during the DNC and beyond because of our collaboration with the Science Center. The MIC will be the legacy of the DNC and will spur future entrepreneurs to create businesses and technologies to change the world!”
About the Science Center The University City Science Center is a dynamic hub for innovation, and entrepreneurship and technology development in the Greater Philadelphia region. It provides business incubation, programming, lab and office facilities, and support services for entrepreneurs, start-ups, and growing and established companies. Since it was founded in 1963, 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 leveraging its history as the nation’s oldest and largest urban research park as it joins forces with Wexford Science + Technology, a BioMed Realty company, to expand its footprint and rebrand its physical campus as uCity Square — a true mixed-use community of ingenuity. For more information about the Science Center, go to ucscreview.org.
About Microsoft Microsoft (Nasdaq “MSFT” @microsoft) is the leading platform and productivity company for the mobile-first, cloud-first world, and its mission is to empower every person and every organization on the planet to achieve more.
About SeventySix Capital SeventySix Capital invests in passionate, smart and nice entrepreneurs who are launching game-changing companies in the e-commerce, retail and healthcare industries. Wayne Kimmel founded SeventySix Capital, the Philadelphia area based venture capital fund, in 1999. Recently, Jon Powell joined Kimmel as a Managing Partner at SeventySix Capital. Powell is also the CEO of Kravco, a leading private real estate developer and property management company that developed the King of Prussia Mall. SeventySix Capital’s top exits include, SeamlessWeb – acquired by ARAMARK, now public as GrubHub (NYSE: GRUB), Take Care Health Systems – acquired by Walgreens (NYSE: WAG) and NutriSystem (NASDAQ: NTRI) – top performing stock in the U.S. for 5 consecutive years. Intel, IBM and Yahoo! have also acquired SeventySix Capital portfolio companies. Some of SeventySix Capital’s current portfolio companies include: Adwerx, CareCam Health Systems, Dwolla, Indiegogo, ReverbNation, StartUp Health, and Whistle Sports. SeventySix Capital’s partners are extremely active in the entrepreneurial and non-profit communities around the world. For more information on SeventySix Capital, please visit seventysixcapital.com or at @76capital on Twitter.
About Wexford Science & Technology
Wexford Science & Technology, a subsidiary of BioMed Realty, is a real estate investment and development company specializing in facilities for for-profit and not-for-profit institutions, especially universities, university-related research parks and healthcare systems. Wexford brings a unique approach of collaborating with clients to build knowledge communities which are vibrant, mixed-use, amenity-rich environments that foster innovation.
About uCity Square Powered by the University City Science Center and Wexford Science + Technology, uCity Square will be the center of Philadelphia’s economic growth in University City by creating a dynamic environment for innovation and collaboration between the private sector and top-tier research institutions such as University of Pennsylvania and Drexel University.