"University City Science Center shifts focus ahead of move to new HQ"

The Philadelphia Business Journal has published a great article about CIC Philly and our partner, the University City Science Center. Click through to read more, or check out an excerpt below:

Sherwood, who is overseeing the rollout in Philadelphia, was surprised at the city’s level of startup activity, particularly on the grassroots level, when he first started working with the Science Center 18 months ago.

He sees now as the time for CIC to get embedded in the market, while it has momentum but hasn’t fully matured yet. While he wants 3675 Market to evolve into the “center of gravity for the startup world and innovation community in Philadelphia,” he recognizes they’re new entrants into a market with dozens of homegrown co-working spaces.

”We are being very thoughtful about how we compliment the things that are in the city Philadelphia, that have grown up organically. The last thing we want to do is interfere with an entrepreneur’s ideas. Locally created environments add so much value,” Sherwood said. He believes there is plenty of room in the market for CIC and its specific type of shared space, he said, calling it a “distinguishable product.”

To Tang, CIC’s move into the city represents more than just the physical changes unfolding on Market Street, it’s also an outward-facing sign of trust in the city’s innovation economy. Like the Science Center, they’ve invested significant funds in the UCity Square development. The new 3675 Market building is jointly owned by the Science Center and real estate company Wexford Science & Technology and has pre-leased about half of its available space.

“It’s validating because CIC has put money where their mouth is,” he said.
— Michelle Caffrey – Reporter, Philadelphia Business Journal