A program that invests in healthcare and life science research projects that can demonstrate proof of concept, typically coming out of universities and medical institutions, is getting a $500,000 investment from Philadelphia’s economic development arm. The new investment is designed to bring more capital to entrepreneurs in Philadelphia at earlier stages, according to a press statement.

The source of the investment is Philadelphia Industrial Development Corporation’s Penn Venture Fund. Through the fund it will invest up to $500,000 in the University City Science Center’s QED Program, the country’s first multi-institutional proof-of-concept funding program for healthcare and life sciences technologies. The investment is to be allocated up to $100,000 at a time across five project rounds, starting next year.

To read the original article: Healthcare, life science proof-of-concept program gets some brotherly love with city’s $500k investment | MedCity News