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August 06, 2015

Former AOL CEO to invest $100K in one Philadelphia startup

Steve Case will visit the city on Sept. 29 to hear pitches

Steve Case, former CEO of AOL, held a Q&A interview with Philadelphia Business Journal reporter Dan Norton to advance his Sept. 29 visit to Philadelphia.

The visit is part of a multi-city entrepreneurial funding and promotion project called "Rise of the Rest."

While in Philadelphia, Case is expected to hold a pitch contest to select one innovation and technology startup to invest $100,000 in.

Speaking about the future of the city's innovation and technology scene, Case said he sees momentum building and is optimistic about future growth.

"Philadelphia can rise as a startup region if people come together for the common good. And if Philadelphia rises, and gets more attention, and attracts more capital and talent, that will be good for everybody in the region," Case told Norton. 
"We hope by visiting we will be able to bring attention to the great work being done by entrepreneurs and startups in the Philadelphia area, and hope that our effort can be a catalyst to help attract more media and investor attention."

The startup he will invest in will need to demonstrate the ability to impact a lot of people and have the potential to change the world, Case said.

"We want to back entrepreneurs that surround themselves with great people, as we believe entrepreneurship is a team sport. And given it’s not just about the idea – it’s also about the execution - we need to see some evidence that the product or service is striking a chord with customers and partners, and has the potential to emerge as a significant Philadelphia company."

Read the full PBJ interview here.