With Help from i2n, Fifteen Local Companies Land $1.2m in Startup Funding
Fifteen startup companies in Chester County and Delaware County have been awarded over $1.2 million in tax credits by the Pennsylvania Department of Community and Economic Development.
Brandywine PhootonicsThese companies participate in the Ideas x Innovation Network and were included in Governor Tom Wolf’s December 18, 2018 announcement of the approval of Keystone Innovation Zone (KIZ) tax credits for 255 early-stage technology companies state-wide.
Fourteen of the fifteen companies received the 2018 maximum award of $84,182, based on year-over-year increase in revenue.
Since 2007, over $13.7 million in KIZ tax credits have been awarded to 66 companies in Chester and Delaware Counties through their participation in the Ideas x Innovation Network (formerly the Chester County KIZ and Delaware County KIZ).
The KIZ tax credit program is the cornerstone of the Ideas x Innovation Network and is one of the largest unencumbered sources of financial support for high growth startup companies in Pennsylvania.
The KIZ tax credit program was established to encourage innovation and entrepreneurship in and around Pennsylvania’s colleges and universities.