Science Is A 24/7 Pursuit In University City
By KYW tech editor Ian Bush
PHILADELPHIA (CBS) --- The Philadelphia Science Festival gets underway today, with more than 100 events celebrating the region's strengths in science, technology, engineering, and math. But there's one spot in town where STEM is at work round-the-clock.
Apple. Google. Microsoft. Each has roots in a garage: the stuff of legend for innovators from which University City Science Center is drawing inspiration.
"This is a 21st century garage with lots of great amenities," says Dr. Stephen Tang, CEO of the seventeen-acre campus from 34th to 39th and Market.
"Our latest project is the residential tower at 3601 Market St. which will have about 380 market-rate units," Tang notes, with an eye on opening those apartments by the end of the year. "We're trying to create a 24/7 environment where innovators can come gather, live, gather, work, play, and really become a community here in Philadelphia."
Ideas germinate in Quorum -- what Science Center calls its "entrepreneurs' clubhouse," where startups connect with investors and others who've "made it."
"The idea is to keep the talent, the innovation, and the jobs here in greater Philadelphia," says Tang.
Some 15,000 people in the region are employed by current residents of Science Center or alums from its 50-plus years in operation. The average salary is just under $90,000.
The 2.5 million square-foot site includes a shared workspaces for the smallest startups.
"The barriers of entry should be low to those folks," Tang says. "I want them to be part of the community and not everybody succeeds the first time. Sometimes it takes two or three different attempts before you find the secret sauce and can move your idea forward."
He credits millennials for breathing new life into innovation and entrepreneurship in the area.
"They have a desire to live close to the work, be part of the community, and care for the community," notes Tang. "So we've really benefited from that trend."
To really put University City on the map, he wants to see an established player from the tech or life science industry set up shop.
"I think we are underappreciated still against Boston, New York, San Francisco, Silicon Valley," Tang says. "That should make for prime fishing for companies that want to find talent and want to grow. We haven't had our moment yet, but I have a sense it's coming soon."
