Drexel, Science Center provide funding to four Philadelphia-area minority founders
A joint venture between the University City Science Center and Drexel University is providing its second round of funding to four minority-founded, Philadelphia-area startups ranging from fintech to health care.
The Raynier Seed Fund focuses its financing on up to four underrepresented entrepreneurs annually with each receiving $25,000. The startups in this year's group are Hidden Gems, Naturaz, SnapRefund and VasoWatch. Three of the four are led by female entrepreneurs.
Tiffany Wilson, the CEO of the Science Center, said the founders chosen "represent some of the most promising startups in our ecosystem."
“An investment in underrepresented founders is not just an investment in business but an investment in the inclusive growth of Philadelphia," Wilson said.
The funding is the latest secured by Hidden Gems. The Enterprise Center recently invested $250,000 into the beverage company, which is selling its product throughout Greater Philadelphia. Hidden Gems was founded by Drexel graduates Sheetal Bahirat and Zuri Masud. It's first product line, Reveal, is a drink made from upcycled avocado seeds.