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Blackstone Charitable Foundation Expands Campus Entrepreneurship Platform Bringing “Blackstone LaunchPad” To Pennsylvania

Stocks in this article: BX

Stephen S. Tang, President and CEO of University City Science Center

“At the Science Center we excel at developing communities and making connections. We look forward to connecting the community of student entrepreneurs at Temple and Philadelphia University to the advisers and networks that will help them develop their ventures and their skills," said Stephen S. Tang, Ph.D., MBA, President and CEO of the University City Science Center. “We hope the connections these student entrepreneurs make and the networks they build through the Blackstone LaunchPad program will give them one more reason to remain in the region after they graduate.”

Richard Englert, Acting President of Temple University

"The Blackstone LaunchPad is a tremendous opportunity for Temple University. This initiative will significantly enhance our ability to spread entrepreneurship across campus, and work with significantly more students to develop their entrepreneurial thinking and skillsets. As a result, our students will be well positioned to recognize entrepreneurial opportunity and develop their own ventures while creating jobs for Philadelphia, Pennsylvania and the nation," said Acting President Richard M. Englert.

Stephen Spinelli, President of Philadelphia University

“Blackstone LaunchPad’s leadership in entrepreneurship partnered with Philadelphia University’s leadership in innovation will be a powerful combination to create new opportunities for our students to become entrepreneurs and amplify their impact on our economy and the world,” said Philadelphia University President Stephen Spinelli Jr., Ph.D. “Our partnership with Blackstone will create a new hub for Philadelphia’s entrepreneurial assets, further enabling our students to become the leaders of tomorrow.”

About The Blackstone Charitable Foundation

The Blackstone Charitable Foundation was founded at the time of The Blackstone Group’s Initial Public Offering in 2007 with substantial commitments from the Firm’s employees. Influenced by the enterprising heritage of the firm and its founders, The Blackstone Charitable Foundation is directing its resources and applying the intellectual capital of the firm to foster entrepreneurship in areas hardest hit by the global economic crisis. Through its investment expertise across several asset classes and geographies, Blackstone has a unique perspective on the global economy and a heightened understanding of how entrepreneurial activity is often the crucial catalyst in the growth of successful businesses, industries and communities. (For more information, see www.blackstone.com/CharitableFoundation.htm)

About University City Science Center

The University City Science Center supports entrepreneurship, innovation and technology commercialization in the life sciences and emerging technologies by providing office and lab space, access to investors and business-building advice, and a community of entrepreneurship and innovation. Together, this support helps companies move technology into the marketplace where it can have a positive impact on people’s lives. Established in 1963 and headquartered in Philadelphia, PA, the Science Center is the oldest and largest urban research park in the United States. Graduate organizations and current residents of the Science Center’s Port business incubator 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 will celebrate its 50 th anniversary in 2013. For more information, go to www.sciencecenter.org.

About Temple University

Temple University is one of the leading urban public comprehensive research universities in America. Founded in Philadelphia in 1884 by Russell Conwell, Temple now enrolls nearly 39,000 students at campuses on three continents. The university offers more than 300 degree programs, making it the nation's 28th largest university and fourth largest provider of professional education. Temple is dedicated to offering an excellent education that is both accessible and affordable.

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