The Nutter administration is expected to announce Friday two initiatives, including a seed-capital fund aimed at supporting the city's growing entrepreneurial community.
Through the Philadelphia Industrial Development Corp., the city intends to invest up to $3 million in a new "Startup PHL Seed Fund," which would be managed by an outside professional investment firm. That money would need to be matched by private investors at least dollar for dollar, according to a request for proposals that the city intends to issue.
To read the original article: Phila. seed fund to finance startups - Philly.com
